THE PROSPECTS AND CHALLENGES OF ENTREPRENEURSHIP AND VENTURE CREATION AMONG GRADUATES OF TERTIARY INSTITUTIONS IN PLATEAU STATE NIGERIA
Nanfa Nimvyap1, Miba’am Walwai Benjamin1, Lekmak Felix2
1Department of Economics, Faculty of Social Sciences, Plateau State University Bokkos.
2Graduate Student, University of Jos
Email: nnimvyap@gmail.com, mibaam@gmail.com, felixlekmak@yahoo.com
ABSTRACT
The problems of rising social vices and poverty is associated with the increase in unemployment especially among the youths in Nigeria, more youths graduate from tertiary institutions of learning only to face limited employment opportunities that are difficult to secure. One of the solutions to the problems of graduates’ unemployment in Nigeria is the promotion of entrepreneurship and venture creation among students in tertiary institutions with a view to prepare them to be job creators and not job seekers after graduation. Entrepreneurship can help reduce increasing rate of employment if encourage in the right way. The study seeks to find out the prospect and challenges of entrepreneurship and venture creation among graduates of tertiary institutions in Nigeria with Plateau state as a case study. Using the survey method of data collection, sample size of 800 questionnaires were administered, 720 were retrieved and 620 valid questionnaires were analysed after sorting. The questionnaire combined multiple choice closed and opened ended questions. A multistage sampling was adopted where the state is stratified into three senatorial zones, 4 Local Government Areas (LGA) from each of the senatorial zones were identified and graduates of tertiary institution were thereafter randomly selected. The study adopted the descriptive and evaluation methods of data analysis to analyse data gathered. Findings revealed that entrepreneurship opportunities exist in Plateau State and that more graduates are willing to venture into business creation provided there is an enabling environment. The findings also found that entrepreneurship and venture creation in Plateau state is faced with a lot of challenges among which include challenging environment for entrepreneurship practice and venture creation, limited access to start-up capital for intending graduates, unfavourable government policies, inadequate infrastructures especially in the rural areas among other challenges. The study recommends entrepreneurship education be sustained in all tertiary institutions in Nigeria, creating enabling environment by policy makers to encourage new start-up business and small and medium enterprises, access to reasonable interest loan in financial institutions that is less stringent and infrastructures should be provided in the rural areas among other recommendations.
Key words: Entrepreneurship, Venture Creation, Graduates, Tertiary Institutions.
