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.