University Don advocate for entrepreneurship development in higher education

By Rita Okoye

 

A university don has advocated for Entrepreneurship Development in Higher Education. Dr. Adenike Shittu is a distinguished advocate for the inclusion of the General Entrepreneurship Development Programme (GEDP) in Nigeria’s tertiary education system, emphasizing its potential to transform the nation from a consumer-driven economy into a competitive producer of goods and services. She made this during an event organised by The Small and Medium Enterprises Development Agency (SMEDAN) in Lagos.

Entrepreneurship plays a vital role in Nigeria’s economic landscape, contributing approximately 48% to the GDP and employing over 80% of the workforce. However, despite this significant impact, many startups and small businesses struggle with sustainability due to limited access to funding, weak business structures, regulatory bottlenecks, and inadequate entrepreneurship education.

The push for entrepreneurship education in higher institutions is part of a global trend aimed at fostering innovation, digital transformation, and economic diversification.

Countries such as the United States, Germany, and China have successfully integrated entrepreneurial training into their education systems, equipping students with the necessary skills to create sustainable businesses. In contrast, Nigeria’s entrepreneurship education remains largely theoretical, with minimal emphasis on practical skill development, incubation hubs, and industry-academia collaboration.

Recent trends indicate a growing emphasis on tech-driven entrepreneurship, e-commerce, digital marketing, fintech innovations, and green entrepreneurship. These areas present new opportunities for economic growth, particularly in Nigeria, where youth-driven tech startups and small businesses have the potential to thrive if given the right support.

The introduction of GEDP into Nigeria’s tertiary education curriculum will help students develop critical thinking, problem-solving, and financial management skills, enabling them to build scalable businesses that contribute to economic stability.

Despite its potential, Nigeria’s entrepreneurship landscape faces numerous challenges.

Regulatory bottlenecks and policy gaps remain significant obstacles, with the Nigerian Universities Commission (NUC) overseeing curriculum standards that still emphasize theoretical instruction over hands-on entrepreneurial training. Policies that mandate practical entrepreneurship training, internships, and mentorship programs are either non-existent or not effectively implemented.

Limited access to funding further stifles entrepreneurship, particularly for young graduates and women-led businesses, as high-interest rates, lack of collateral, and limited financial literacy hinder financial support.

Weak industry-academia collaboration exacerbates this issue, with universities often operating in isolation from the private sector, leading to a disconnect between entrepreneurial education and real-world business practices.

Strengthening university-industry partnerships through mentorship programs, business incubation centers, and knowledge-sharing platforms can bridge this gap. Furthermore, the absence of business incubation centers within universities leaves aspiring entrepreneurs without the resources, mentorship, and funding necessary to develop sustainable ventures.

Unlike their global counterparts, Nigerian universities lack the infrastructure needed to support student-led businesses, reducing the effectiveness of entrepreneurship training.

Unstable economic conditions and market access barriers further hinder business growth, as policy inconsistencies, infrastructural deficits, and regulatory burdens make it difficult for small businesses to scale.

Policymakers need to ensure that entrepreneurial policies align with national economic goals, creating a business-friendly environment that fosters innovation and economic resilience.

Regulatory agencies such as the Nigerian Universities Commission (NUC), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Central Bank of Nigeria (CBN), and Bank of Industry (BOI) must collaborate to drive meaningful reforms.

The NUC should revise tertiary curricula to include experiential learning, real-world case studies, business simulations, and startup incubation programs. SMEDAN and BOI should expand funding initiatives, offering low-interest loans, grants, and seed capital to support young entrepreneurs. Universities should establish innovation hubs and business incubation centers to provide mentorship, access to investors, and networking opportunities.

Strengthening private sector partnerships will ensure that students receive practical business training and access to market linkages.

The Nigerian government must create an enabling business environment by reducing bureaucratic hurdles, simplifying tax policies, and improving infrastructure to support SMEs.

Dr. Shittu’s extensive professional background spans academia, finance, education, and real estate. She has served as an Adjunct Lecturer at UMCA Theological College, Ilorin (2023), Director of Global Initiative Microfinance Bank since 2009, Director of Axia Educational Services Limited since 2009, and Director of Kristosolid Properties and Construction Limited since 2008. Her academic achievements include a Ph.D. in Entrepreneurship from Azteca University, Mexico obtained in 2023, an M.Sc. in Business Administration from ESCAE University, Republic of Benin awarded in 2019, and a B.Sc. in Business Administration from ESCAE University in 2015. She also attended the China Europe International Business School in Lagos 2016.

Dr. Shittu remains at the forefront of advancing entrepreneurship education and policy development in Nigeria.

Through her work, she continues to advocate for the practical restructuring of entrepreneurship education, increased access to funding, and enhanced industry-academia collaboration to build a robust entrepreneurial ecosystem.

By integrating GEDP into Nigeria’s tertiary curriculum and aligning policies with global best practices, the country can unlock the full potential of its entrepreneurs and drive long-term economic growth.