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ENTREPRENEURSHIP DRIVE AND UNDERGRADUATE (A CASE STUDY OF STUDENTS IN UNIVERSITY OF LAGOS)

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5 Ways Entrepreneurs Drive Economic Development                                                         

 

                                              Abstract

This study sought to examine entrepreneurship drive and undergraduate students in University of Lagos. To achieve this objective, four research questions were generated to guide this study. A well-structured questionnaire was use as the main instrument to gather data from 70 lecturers and students of entrepreneurship education in University of Lagos. Out of this number, 62(88.6%) copies of questionnaire were appropriately completed and returned for data analysis. The data collected from the respondents were analyzed using simple percentage and tables to analyze the research questions. All data were coded using SPSS statistical package. The findings revealed that: there is a significant relationship between entrepreneurship drive and job creation in Lagos State University. Also, entrepreneurship drive do influence undergraduate students in the establishment of their own businesses. It was concluded that entrepreneurship education may provide students with necessary preparation to meet the challenges and problems of economic crisis and unemployment. The study recommends that the curricula of tertiary education should be reviewed to incorporate entrepreneurship education which must be made compulsory to all students of faculty of education in Nigeria. This will help students boost up their entrepreneurship drive and necessary basic business skills for self-employment and self-reliance.

                                                TABLE OF CONTENT

CHAPTER ONE: INTRODUCTION

1.1 Background of Study

1.2 Statement of Problem

1.3 Objectives of the Study

1.4 Research Questions

1.5 Research Hypotheses

1.6 Scope of the Study

1.7 Significance of the Study

1.8 Operational Definition of Terms

References

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.1 Preamble

2.2     Theoretical Framework

2.3 Conceptual Framework

2.5 Empirical Framework

References

CHAPTER THREE: RESEARCH METHODOLOGY

3.1 Introduction

3.2   Research Design

3.3 Study Area

3.4   Population of the study

3.5 Sample and Sampling Technique

3.6 Sources of Data

3.7    Method of Data Collection

3.8   Method of Data Analysis

CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND INTERPRETATION

4.1 Introduction

4.2   Data Analysis and Findings

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION

5.1 Summary

5.2 Conclusion

5.3 Recommendations

References

Appendix I

Appendix II

                                                  CHAPTER ONE

                                                 INTRODUCTION

1.1 Background to the Study

The Nigeria economic challenges have continuously been an issue of concern to millions of Nigerian who to live in abject poverty. The economic crunch arguably is exacerbated by effects of global economic meltdown. The high level of unemployed graduates roaming the streets calls for an urgent need for entrepreneurship development in the country. The World Bank (2009), had predicted that the ranks and the numbers of the poor and unemployed in the developing nations like Nigeria will soon swell as a result of global recession. Therefore, the Nigerian National Policy on Education (2012) recommended that tertiary education should aim at developing and inculcating proper values for the survival of the individual; develop the intellectual capability of the individual to understand and appreciate their local and external environment and acquire both physical and intellectual skills which will enable individuals to be self-reliant. The objective of the National policy is yet to be realized.

Entrepreneurship is the process of acting upon previously unnoticed profit opportunities to produce a new process or output. Entrepreneurship is defined as the process of establishing and managing an enterprise. It is generally an act of recognising opportunities, mobilising resources to take advantage of the recognised opportunities, ensuring the provision of goods or services and obtaining profit for the risk involved in production (Akinwale 2009). Entrepreneurship education can be defined as the development of attitudes, behaviours, and capabilities that can be applied during an individual’s career as an entrepreneur (Wilson, 2008). Entrepreneurship is significance in relation to the growth and development of a given economy, entrepreneurship has been variously referred to as a “source of employment generation” (AjaOkorie & Onele, 2013). Entrepreneurship is the bedrock of every region, nation or globe. Thus, entrepreneurial activities do not exist in a vacuum, but it rather occurs within a particular environment. Entrepreneurship  is  the key  for a  number of  desirable  social  outcomes,  including economic  growth,  creation  of employment,  elimination  of social  crises and  technological modernization.

The Nigerian national and regional policy thrusts like the National Economic Empowerment and Development Strategy (NEEDS) and the New Partnership for Africa’s Development (NEPAD) have been sensitizing the youths by emphasizing on poverty eradication, employment generation and wealth-creation as well as public-private partnership. Accordingly, a number of initiatives like the Npower Program, National Poverty Eradication Programme (NAPEP) and the establishment of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have been introduced (Okojie, 2008; Osibanjo, 2006). These programs targeted wealth creation, poverty reduction, job creation and value addition (Tajudeen & Adebayo, 2013). However, the situation remains unchanged. One of the possible causes is that this initiative in Nigeria addresses only the output end of capacity development solving problem. Entrepreneurship information and education will help young adult become self-employed after leaving universities in Lagos State.

Nigeria is a country where the entrepreneurial spirit is valued and shared among citizens. Entrepreneurship is an important factor of national growth and development that draws the attention of government and corporate entities. However, Nigeria has no consistent policy on the promotion of entrepreneurship among university graduates in Anambra State that would serve as a guide to becoming self-employed. Most undergraduates in Lagos State lack information on entrepreneurial characteristics to become self-employed. The challenges confronting Lagos State as a result of youth unemployment include increase in crime rate, drug abuse, kidnapping, and an increase in the suicide rate. Some of the graduates in Nigeria have engaged in some form of self-employment and areas like spare parts fabrication, textiles, estate and insurance agencies, shoe manufacturing and production of machine tools. However, most of the youths lack entrepreneurship information, education, technical competence, and other prospects to be self-employed (Fapohunda, 2012). Though entrepreneurship remains a fundamental concept in social, economic and human development, however, the inconsistencies in public policies and programs have aggravated the unemployment situation (Asaju, Arome, & Anyio, 2014).

Read Also: ENTREPRENEURSHIP SKILLS ACQUISITION AND PRODUCT INNOVATION IN NIGERIA

 

The field of entrepreneurship education holds within it the promise of national prosperity that comes from increased competitiveness from a citizenry equipped with the skills to stimulate social, economic, and organizational development (Beugelsdijk & Noorderhaven, 2004; Martinez, Levie, Kelley, Saemundsoon & Schott, 2010). However, entrepreneurship is a complex phenomenon that requires decision-making across all aspects of business activity in situations where there are high levels of uncertainty in a global and dynamic socio-technical con-text (Timmons, Gillin, Burshtein & Spinelli, 2011). The complexity has led to considerable debate around how to best teach entrepreneur-ship, what precisely should be taught, and how to measure best the teaching effectiveness in developing entrepreneurship drives, behaviours, and capabilities among students. Therefore, this study examines entrepreneurship drive and undergraduate students in university of Lagos.

1.2 Statement of the Problem

A greater number of Nigerian university graduates are jobless even after several years after graduation (Fabiyi and Adetoro, 2006) while the business sector complains of lack of skilled workers (World Bank, 2007). It is a common experience that about 80% of the graduates from Nigerian universities find it very difficult to get employment every year. This is partly due to lack of entrepreneurship drive among undergraduates in our tertiary institutions, which lay emphasis on training majorly for white-collar jobs. Also, Nigeria has no consistent policy on the promotion of entrepreneurship among young adult in higher institutions that would serve as a guide to becoming self-employed (Oladokun & Ayodele, 2015). Oladokun and Ayodele (2015), reports that Ninety-five percent of college graduates in Nigeria were unemployed between 12 to 24 months after graduation because of job scarcity. The high rate of youth unemployment in Nigeria is partly due to a lack of relevant marketable skills among the Nigerian graduates. In addressing the challenge of youth unemployment, the Nigerian government integrated entrepreneurship into the curricula of higher educational institutions in Nigeria, like situations in many countries where youth entrepreneurship has attracted attention (Beckman 2005, Rasdan, Eriyatno, Affandi, and Machfud 2014). Yet this measure has not been able to salvage the persisting challenge of unemployment. Which motivates the study on entrepreneurship drive and undergraduate students in university of Lagos.

Read Also: ENTREPRENEURSHIP EDUCATION AND THE GROWTH OF SMALL HOLDERS BUSINESS

1.3 Objectives of the Study

The main aim of this study is to examine entrepreneurship drive and undergraduate students in university of Lagos. Specifically, the study intends to:

  1. Determine the relationship between entrepreneurship drive and job creation in Lagos State University.
  2. Examine the extent to which tertiary education influences the development of students’ passion for entrepreneurship.
  • Examine the extent to which entrepreneurship drive influence undergraduate students in the establishment of their own businesses.
  1. Ascertain the strength of entrepreneurship education in imparting the right skills and attitudes to undergraduate students in Lagos State.

1.4 Research Questions

The following research questions are posed to guide the study:

  1. Is there any significant relationship between entrepreneurship drive and job creation in Lagos State University?
  2. Does tertiary education influences the development of students’ passion for entrepreneurship?
  3. Does entrepreneurship drive influence undergraduate students in the establishment of their own businesses?
  4. What is the strength of entrepreneurship education in imparting the right skills and attitudes to undergraduate students in Lagos State?

1.5 Research Hypotheses

H0: There is no significant relationship between entrepreneurship drive and job creation in Lagos State University

H1: There is a significant relationship between entrepreneurship drive and job creation in Lagos State University

H0: Entrepreneurship drive does not influence undergraduate students in the establishment of their own businesses

H2: Entrepreneurship drive do influence undergraduate students in the establishment of their own businesses

1.6 Scope of the Study

This study focused on entrepreneurship drive and undergraduate students in university of Lagos. It was limited to determining the extent to which Nigerian higher institution have influenced the development of the intellectual, skills and entrepreneurship mindsets of students in Nigeria. The study was limited to the University of Lagos State, UNILAG, with the aim of finding a lasting solutions to the challenges associated with entrepreneurship drive among undergraduates.

1.7 Significance of the Study

This study when completed is expected to create a high level of awareness among prospective graduates on the relevance of entrepreneurship skills. The study will boost entrepreneurship teachings and once the quality of teaching entrepreneurship improves, the students will develop interest in the entrepreneurship education. They will be more serious with their academic work and entrepreneurial behavior which will enable them establish small scale business or find wage employment in absence of employment opportunities after graduation.

The study will significantly pummel the need for education planners in Nigerian tertiary institutions both (private and public) to direct effort at inculcating courses for entrepreneurship development skills into tertiary institutions’ curricula and programmes.

The findings of this study will be of benefit to Lagos State government. It will create awareness of the effort being made by various higher institutions on the extent of implementation and outcome of entrepreneurship education which Lagos State government has great interest in.

Lastly, the study will contribute to knowledge on the influence of entrepreneurship drive on entrepreneurial behaviour of undergraduate students. This may benefit other researchers in the field of educational administration in Nigeria and beyond.

1.8 Operational Definition of Terms

Entrepreneurship: Entrepreneurship refers to the process of creating a new enterprise and bearing any of its risks, with the view of making the profit

Entrepreneurial Drive: This is something of an umbrella term for the wide variety of characteristics that compel an individual to pursue a unique and untested path relentlessly, regardless of the failures and obstacles.

Undergraduate: This is a student at college or university, who is studying for their first degree or postgraduate degree.

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