COLLABORATIVE BUSINESS EDUCATION AND ECONOMIC DIVERSIFICATION: PATHS TO SUSTAINABLE DEVELOPMENT IN NIGERIA
Abstract
Nigeria at independence had a promising economy and the educational system competed favourably with those of developed economies of the world such that it was the hope of Nigerians and members of the global community that Nigeria will match pace with the advanced economies of the world faster than any other developing economy. Agriculture and Commerce sustained the Nigeria’s economy until the oil boom that was first experienced in 1971 and subsequently, 1991 and about 2013. Rather than take advantage of the oil boom eras and diversify the economy as well as developing the educational sector, Nigeria abandoned agriculture and commerce for an oil-based mono-economy and paid less attention to education. The educational sector decayed gradually with poor infrastructure and facilities, archaic curricula, poor evaluation system, inadequacy of qualified personnel, emphasis on theory as against practical; occasioned by ill-equipped laboratory due to poor funding of education generally. The inability of Nigeria sustain agriculture alongside the emergence of oil; utilise the revenue accruing from oil and diversifying the economy, as well as developing the education sector including the development of functional curricula constitutes problem for this study. Despite the introduction of vocational education and its brain-child, business education to effectively provide students with competent skills for self-reliance, Nigeria’s development potentials is still under-utilised, invariably due to lack of collaborative approaches to enhance and sustain development in Nigeria. This paper justifies the need for sustainable development through collaborative business education and diversified economy in Nigeria. The paper therefore addresses the following issues: the missing link in Nigeria’s development experience; paths to Nigeria’s sustainable development through collaborative business education and diversified economy in Nigeria.
Keywords: Ccollaborative, business education, economic diversification, sustainable development
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