BUSINESS EDUCATION AND ECONOMIC DIVERSIFICATION: ANTIDOTE TO A MONO-SECTOR ECONOMY
Abstract
For many years, the oil boom prevented Nigeria from diversifying its economy. Despite the inflow of revenue since the discovery of crude oil, Nigerians still suffer from poverty and unemployment and this can be attributed to the neglect of other non-oil sectors by the government and the populace who are constantly in search for white collar jobs. The recent crash in oil price and its effect of the economy of Nigeria has exposed the dangers of Nigeria’s mono-sector economy. This reason and the present aggressive measures being adopted by the developed nations to device alternative renewable source of energy which is exposed to lower the demand for crude oil has triggered the need for diversification. Recommendations made in this study which include provision of funds for the training of Business Educators to be self-sufficient and self-reliant, the need for government to shift attention to other viable sectors of the economy, develop workable policies and implement them.
Keywords: Business education, Economic Diversification, Mono-sector Economy.
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