Potential for Innovation and Entrepreneurship Development in Nigeria: Lessons from Students of Landmark University

Abstract

The present article examines the possibility of entrepreneurship development from the perspectives of the budding students in a private university. The discourse is situated within the ambits of the Theory of Planned Behaviour. Data were obtained through a survey of 250 students from various departments at Landmark University, Omu Aran, Kwara State, Nigeria. A multi-stage probability sampling technique was adopted for the selection of the sample size. The findings reveal overwhelming proportions of the respondents with talents and desire for entrepreneurship (87% versus 96.6%). Self-employment was the next plan of more than half of the respondents (56.1%). Based on the results of the hypotheses, possession of talent and desire for entrepreneurship was influenced by a number of factors such as ethnicity (R² = 0.031, F = 4.6, P = 0.034); possession of talent (R² = 0.804, F = 599.76, P = 0.001); desire for entrepreneurship (R² = 0.329, F = 71.55, P = 0.001); and desired highest level of education (R² = 0.032, F = 4.79, P = 0.03). It is concluded that some of the future entrepreneurs in Nigeria will be highly educated and innovative. In this case, there is need for recognition of self-help as a major strategy to maximize opportunity for the development of entrepreneurship in the midst of the adverse influence of globalization.