Abstract

Amuseghan Sunday Adejimola * and Tayo-Olajubutu Olufunmilayo

The re-engineering of the Nigerian economy in the presence of available resources and business opportunities has attracted serious attention in recent times. The colonial mentality in the first generation of graduates in Nigeria, which was deep-rooted in the Golden Fleece and certificate frenzy, influenced the limited spirit of entrepreneurship. Among the dead and surviving industries in Nigeria, the captains of these industries are semi-literate entrepreneurs. This paper adopts a case study of the Nigerian university system in re-positioning the economic development and entrepreneurial drive for job creation, wealth creation and global competitiveness of Nigerian youths/graduates. The main thrust of the paper is the emphasis on the marriage between theories and practical which the research and development centres in the universities should serve as technological incubators and entrepreneurship drive. The introduction of entrepreneurship education as a compulsory course in the Nigerian university system is seen as a measure to address the problem of graduate unemployment and strategically position the economy for leadership in Africa. It is recommended that the Nigerian ecosystem must be harnessed before meaningful entrepreneurship development can take place. The paper concludes that curriculum review, sensitization, advocacy and mobilization of support for entrepreneurship education, programme focus and funding together with the political will and stability of the government should be provided for entrepreneurship culture and development.