THE SIGNIFICANCE OF ENTREPRENEURIAL SKILLS DEVELOPMENT ON YOUTH UNEMPLOYMENT AND JOB CREATION

1.1 Introduction

Entrepreneurship has never been more important than it is today in this time of financial crisis. At the same time, society faces massive global challenges that extend well beyond the economy. Innovation and Entrepreneurship provide a way forward for solving the global challenges of the 21st century, building sustainable development, creating jobs, generating renewed economic growth and advancing human welfare. As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Research hypothesis and questions, Limitations of the Study and Definition of technical terms.

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1.2 Background of Study

Education is the process of learning and training; it is an instrument for change and development. Education is the springboard to socio-economic growth and development of every nation. It prepares an individual to live in a dynamic or constantly changing society and contribute to such changes and constantly advance the survival, growth and development of the society (Nwaham, 2010). Education generally, is a social process that helps to maintain a dynamic society since the creation of human beings. Observing this, Onyeachu (2006) noted that it is through education that the cultural heritages are transferred from generation to generation. Education is the most powerful instrument in the world because no nation has ever attained fame or a particular height in terms of development without education as its bedrock, which is engendered by sound educational ideals.

Thus Onwumere (2006) saw education as the springboard for socio-political, economic and cultural development that enhances the production of skilled manpower for national development. There are informal and formal system of education, the formal structure of education should be encouraged. On the other hand, obtaining certificate alone without a corresponding creative and mental power have no serious bearing on the purpose of education (Uloko, 2010). Education as parameter, registers the tempo of change and as well the rapid transformation of any society (Akpojena, 2010). There is high increase in the demand for education at all levels in Nigeria that promotes skills acquisition for survival in the society; by the same token, it is through such education that the acquired skills can be transferred into business development, which will in turn contribute to economic growth and development in Nigeria. And such education is entrepreneurship education.

However, despite the recognition of entrepreneurship as having the potential to curb unemployment among Nigerian youth and the introduction of entrepreneurship education in Nigerian universities, about 80% of the Nigerian youth are unemployed and about 10% are under employed with 7 out of 10 graduates remaining unemployed or underemployed (Dike, 2009). As the former minister of labour and productivity Adelokunbo Kayode has asserted, “the greatest challenge confronting government today remains massive unemployment which has served as a breeding ground for anti-social vices” in Nigeria (Olayinka, 2010).

In today's competitive and challenging global world with diverse demands, many countries are facing serious problems of graduate unemployment (Adesina, 2013). As a result, the higher education sectors are under immense pressure from governments, employers and parents to produce quality graduates that can be economically engaged at the individual, national and global level (Teichler, 2007). Such graduates should possess a combination of attributes that will enable them to take an adaptive and proactive approach to their careers (Bezuidenhout, 2011). While there is consensus worldwide on the importance of addressing employability within higher education, there remains some debate on how best this can be achieved (Harvey, and Morey, 2002). This paper will suggest initiatives to be taken by the to make sure that every stakeholder (including the government, higher education institutions, industry and commerce, employers, professional bodies, parents and the students) play its part in ensuring that graduates are able to find or create employment sustainably.

Although many countries are faced with problems of unemployment in general (Adesina, 2013), the scope of this paper is limited to graduate employability. A graduate here refers to someone who has a bachelor's or higher degree from a higher education institution (HEI). The rationale for focusing on graduate employability arises from the realisation that governments, employers and communities are increasingly interested in what HEIs have to offer as a source of recruitment and for the development of existing employees (Keech, 2006). In part, this has been driven by a growing awareness of the potential of HEIs in the development of knowledge based economies and driving innovation and national development (Escrigas 2008).

Ayodele, 2006 Unachukwu (2009) identifies the challenges to entrepreneurship education in Nigeria to include:finance, manpower and education, data, inadequate infrastructures and entrepreneurial attitude. She advocates the need for entrepreneurial education for the youth. The government at all tiers; the Nigerian Universities Commission (NUC), professional bodies like Institute of Chartered Accountant of Nigeria and the academia have been attracted to it. In particular, some universities are redesigning their curricula and the ways they operate to create opportunities for the training of their students in practical entrepreneurial skills. The Federal Government of Nigeria issues directive through the Nigerian Universities Commission (NUC) to all Universities in the country to establish Centres for Entrepreneurship Development to coordinate the offering of a benchmark entrepreneurship course to all students in Nigerian universities.

Therefore, in Nigeria where the research was carried out, the activities that was conducted is to know the Significance of Entrepreneurial Skills Development on Youth Unemployment and Job Creation.

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1.3 Statement of Problems

Nigerian tertiary institutions produce millions of graduates annually into an economy which is already overpopulated, thereby raising the level of unemployment. It is on this note that the government in conjunction with its agencies tends to introduce skills acquisition programme in order to correct this anomaly and also ensure that these newly graduated students become self-reliant and prepare for them a future which will in turn devoid the economy of miscreants.

Experience over the years has revealed that seventy percent of these graduates end up roaming about the streets as a result of lack of job opportunities. The unemployment rate in the country (Nigeria) keeps escalating as each year comes by as a result of continuous injection of graduates who have no jobs to do at the end of the day. This situation has become so pathetic because job seekers/applicants end up going back to their aged parents who have invested in them, hoping that someday, they will get back the dividends of their investments but all to no avail. This cankerworm (unemployment) which has eaten deep into the fabric of the society must be reversed to avoid national crisis. Entrepreneurship education is just becoming a popular course in most of the Nigerian higher institutions as it was introduced in 2006 effective from 2007/2008 academic sessions and this has made the acquisition of relevant skills for employment and self-employability more theoretical than practical.

This calls for critical survey of entrepreneurship education as the key to solving graduate unemployment (Oyebola, 2010). Entrepreneurship skill acquisition programme initiated by the National Youth Service Corps in its activities as also avail the newly admitted youth Corpers the opportunity to partake in diverse entrepreneurial skill acquisition programmes during their first three weeks at the camp. This study will empirically examine the Significance of Entrepreneurial Skills Development on Youth Unemployment and Job Creation among Nasarawa State University, Nigeria with a view to providing recommendations that will improve graduate entrepreneurship and hence reduce the level of graduate unemployment rate in Nigeria.

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1.4 Aim and Objectives of Study

The aim of the study is to scrutinize the Significance of Entrepreneurial Skills Development on Youth Unemployment and Job Creation. In achieving this aim, the following specific objectives were laid out as follows:

1. To understand the impact of skill acquisition on entrepreneurship development and Job Creation
2. To identify the reasons for the introduction of skill acquisition programme in the higher institutions of learning in Nigeria
3. To examine the factors instigating youth unemployment in Nigeria
4. To find out the relevance of entrepreneurial skills development on youth unemployment and job creation.

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1.5 Research Questions

The study came up with research questions so as to be able to ascertain the above stated objectives. The specific research questions for the study are stated below as follows:

• What are the impacts of skill acquisition on entrepreneurship development and Job Creation?
• What are the reasons for the introduction of skill acquisition programme in the higher institutions of learning in Nigeria?
• What are the factors instigating youth unemployment in Nigeria?
• What is the relevance of entrepreneurial skills development on youth unemployment and job creation?

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1.6 Research Hypothesis

In order to pursue the objective of this study, the following generalized statements have been designed to guide and aids in obtaining the result for the experiment to be conducted. For this work, the null hypothesis will be represented with H0 while the alternative hypothesis will be represented with hypothesis H1.

• H0: There is no significant relationship between entrepreneurship education and youth unemployment reduction
• H1: There is a significant relationship between entrepreneurship education and youth unemployment reduction

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1.7 Significance of Study

This study will be beneficial in highlighting the importance of entrepreneurship education and its impact on unemployment reduction in Nigeria. One of the SDG (Sustainable Development Goal) goals highlights education (training) as a critical factor to reducing poverty and dependency. Allow the identification of the concept and framework of entrepreneurship. It will also be beneficial in the area of development and its contribution to Nigeria's economy as well as generating greater awareness among tertiary institutions on the importance of having proper and practical strategies for acquiring entrepreneurial skills.

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1.8 Scope of Study

The study focuses on the Significance of Entrepreneurial Skills Development on Youth Unemployment and Job Creation in Nigeria.

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1.9 Limitations of the Study

During the course of this study, many things militated against its completion, some of which are:

1. Time Constraint: The time frame given to accomplish this project was very short due to school academic calendar and it was carried out under pressure which made the researcher not to implement some necessary features.
2. Research material: availability of research material is a major setback to the scope of the study.
3. Frequent power failure: This made the researcher append more money on fuel to ensure sustainable power.
4. Financial Constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).

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1.10 Definition Of Terms

The following terms were used in the course of this study:

Entrepreneurship education: Seeks to provide students with the knowledge, skills and motivation to encourage entrepreneurial success in a variety of settings. Variations of entrepreneurship education are offered at all levels of schooling from primary or secondary schools through graduate university programs.

Job creation: The process of providing new jobs, especially for people who are unemployed, the government's job creation strategy.

Skills acquisition: The ability to learn or acquire skills. It involves the development of a new skill, practice of a way of doing things usually gained through training or experience.