YOUTH PREPARATION FOR ENTREPRENEURSHIP IN HIGHER EDUCATION IN NIGERIA AS CORRELATES (A CASE STUDY OF IVO L.G.A EBONYI STATE)

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YOUTH PREPARATION FOR ENTREPRENEURSHIP IN HIGHER EDUCATION IN NIGERIA AS CORRELATES (A CASE STUDY OF IVO L.G.A EBONYI STATE)

 

CHAPTER ONE

  INTRODUCTION

Background to the Study

Higher education, as defined by National Policy on Education (1998) is the education given after secondary education in Universities, Colleges of education, Polytechnics, Monotechnics, including those institutions offering correspondence courses. The goals of tertiary education in Nigeria as spelt out by the policy are: to contribute to national development through high level relevant manpower training; to develop and inculcate proper values for the survival of the individual and society; to develop the intellectual capability of individuals to understand and appreciate their local and external environment; to acquire both physical and intellectual skills which will enable individuals to be self-reliant and useful members of the society; to promote and encourage scholarship and community service; to forge and cement national unity; and to promote national and international understanding and interaction.

On the other hand, Schumpeter (1994) defines entrepreneurship as the ability to perceive and undertake business opportunities, taking advantage of scarce resource utilization. In simplest form, entrepreneurship is the willingness and the ability to seek out investment opportunities and to run an enterprise for profit. In this later sense, entrepreneurship takes premium over capital. It is equally more fundamental than capital because capital formation is the result of entrepreneurial activity. Entrepreneurs are therefore regarded as central figures in economic development. Their contributions run through labour actions, movement of capital goods and conversion of raw materials into finished products, and ultimately, effectual distribution of the products to final consumers.

Entrepreneurs are therefore those who search and discover economic opportunities, marshal the financial and other resources necessary for the development of the opportunities, evaluate alternatives available in the environment and allocate resources to the most profitable ones as well as take the ultimate responsibility for the management and/or successful execution of opportunities. An Entrepreneur is somewhat comfortable with taking and assuming risks which are impassioned with the dream being pursued. He or she knows where to get help, and when it is needed as well as being ever ready to receive changes in the business surrounding environment (Schumpeter, 1994).

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YOUTH PREPARATION FOR ENTREPRENEURSHIP IN HIGHER EDUCATION IN NIGERIA AS CORRELATES (A CASE STUDY OF IVO L.G.A EBONYI STATE)