Functional Business and Entrepreneurship Education in Nigeria Universities: A Panacea for Entrepreneurship Development in Nigeria

This paper posits that functional business and entrepreneurship education in Nigeria universities is a panacea for entrepreneurship development in Nigeria. The paper took a cursory look on the concept of functional education, business education, entrepreneurship education and entrepreneurship development. The paper reviewed the business and entrepreneurship education programmes as reflected in the National Universities Commission Core Curriculum minimum Academic Standards (NUC CCMAS). The paper highlighted the nexus between the philosophies, objectives, unique features, employability and 21st century skills of the programmes. The paper discussed that functional Business and entrepreneurship education has the potentials of promoting entrepreneurship development in Nigeria since it could lead to the acquisition of skills for identifying viable investment opportunities, proper marketing, financial management, proper management and avoidance of business failure. It could also enable individuals to become capable of living in the society and to contribute towards its economic development. Challenges of business and entrepreneurship education were discussed and the paper concluded that for Nigeria to achieve sustainable economy and become one of the most developed nations of the world, entrepreneurship development through functional business and entrepreneurship education is a must. The paper recommended among others that qualified business and entrepreneurship educators should be recruited, trained and re-trained in the area of entrepreneurship development, and the management of Universities should partner with industries to enable lecturers and students acquire practical experience to bridge the gap between theory and practice.