THE ROLE OF INSTITUTIONAL SUPPORT IN PROMOTING STUDENT ENTREPRENEURSHIP IN NIGERIA

Abstract

Unemployment remains a prevalent challenge in Nigeria, complicated by the annual influx of graduates into an already saturated labour market. While governmental interventions such as compulsory entrepreneurship education and National Youth Service Corps’ skilled acquisition and entrepreneurship development (SAED) programme aim to curb this crisis, student entrepreneurship (i.e., a phenomenon where students concurrently run businesses while pursuing full-time studies) remained underexplored in policy and academia. This paper examines the motivational drivers, challenges, and institutional strategies necessary to foster student entrepreneurship, positioning it as a catalyst for national economic development. Drawing on literature, the study identifies financial constraints, time management dilemmas, and inadequate institutional supports as critical barriers to student venture. By formalizing support systems, the paper posits that educational institutions can transform student entrepreneurs into job creators, thereby mitigating graduate unemployment, stimulating economic growth and curbing brain drain. It further recommends structured interventions, such as university-industry partnerships, alumni mentorship programmes, and policy-driving mechanisms to promote the phenomenon of student entrepreneurship.