The document summarizes the key findings of a large-scale study on student entrepreneurship in Nigeria conducted by the National Centre for Technology Management. Some of the main results included: - Over 85% of students surveyed expressed interest in entrepreneurship. However, only 27% reported actual business experience. - Having a family background in entrepreneurship and exposure to entrepreneurship education were found to significantly increase students' entrepreneurial interest and orientation. - Engineering and technology students made up over half of the sample. Most students were between 21-25 years old.

1. IdentIfyIng CrItICal Issues InIdentIfyIng CrItICal Issues In
student entrepreneurshIpstudent entrepreneurshIp
Evidences from NigeriaEvidences from Nigeria
Willie O. Siyanbola, PhD (Sussex), FMSN (dg.ceo@nacetem.org)
(DG/CEO)
&
Abiodun A. Egbetokun (abiodun.egbetokun@nacetem.org)
(Research Officer)
National Centre for Technology Management, Ile-Ife, Nigeria
(www.nacetem.org)
1
(c) 2008 NACETEM
Presented at the 6th
Annual NACCE Conference, January 4-7, 2009 @ Anaheim Hilton Hotel, USA

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Presentation OutlinePresentation Outline
 Project Background
 Rationale
 Scope
 The Executing Agency
 Key Themes
 Main Results
 Policy Implications
 Conclusion
2(c) 2008 NACETEM

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Sponsored by the Federal Government of Nigeria
through the Federal Ministry of Science and Technology
in 2005
Planned and executed by NACETEM from 2006
Completed in 2007
The very first large-scale study on student
entrepreneurial attitude in Nigeria
3
Project BackgroundProject Background

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Unemployment in Nigeria is still very high (37% in
2004) possibly due to low entrepreneurial propensity
among the youth
The need for baseline pragmatic data to assist in the
design of appropriate policies on Technological
Entrepreneurship
The need to better understand how best to stimulate
student/graduate entrepreneurship
4
Study RationaleStudy Rationale

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 Over 7500 students and over 1200 lecturers sampled
 13 out of 92 Universities;
 9 Polytechnics out of 50;
 3 Colleges of Education (Technical) out of 8
5
Project ScopeProject Scope

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About the CountryAbout the Country

8. Nigeria – Brief fact fileNigeria – Brief fact file
Political Independence: 1960Political Independence: 1960
Population: 140 millionPopulation: 140 million
Land area 923,000 sq kmLand area 923,000 sq km
Education institutions:Education institutions:
94 Universities;94 Universities;
53 polytechnics53 polytechnics
6th largest oil producer (OPEC)6th largest oil producer (OPEC)
GDP per capita: US$1,750GDP per capita: US$1,750
Literacy: 70.7%Literacy: 70.7%
Teledensity: Over 50m GSM linesTeledensity: Over 50m GSM lines
External reserves:US$60 bnExternal reserves:US$60 bn
Inflation rate: 7%Inflation rate: 7%
Nigeria

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Selected Economic IndicatorsSelected Economic Indicators
Country* Per Capita GDP
(PPP US$)
% population
below poverty line
% population
below $1/day
% population
below $2/day
Japan 36501 - - -
South Korea 14265 .. <2 <2
Chile 5838 17.0 <2 9.6
Malaysia 4731 15.5 <2 9.3
South Africa 3489 .. 10.7 34.1
China 1283 4.6 16.6 46.7
Nigeria 594 34.1 70.2 90.8
USA†
37562 .. .. ..
(c) 2008 NACETEM 9
†
In the US, only 13.6% of the people lived below $11 per day as at 1995
* Data for most recent available year
Source: Human Development Report, 2001; 2005; 2006

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About the ExecutingAbout the Executing
AgencyAgency
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Who We AreWho We Are
 The National Centre for Technology Management (NACETEM)
 The Science and Technology (S&T) Policy Research and Training
Agency of the Federal Ministry of Science and Technology
 Provides knowledge support and constitutes the software
component of the nation's STI endeavours
 Provides evidence-based STI policy advice to government (local,
state and federal)
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What We AimWhat We Aim
NACETEM VISIONNACETEM VISION
To be an internationally recognised centre of excellence in science,
technology and innovation management for sustainable
development
NACETEM MISSIONNACETEM MISSION
To play a leading role in the build-up of expertise for effective
management of science, technology and innovation and to
actively engage in policy research, design, evaluation and
review
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Our BusinessOur Business
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Impacts (1)Impacts (1)
In the last 8 years
 >65 short-term courses
 >500 persons trained
 >50 legislators/technocrats trained
 10 years of PGD programme in Technology
Management
 >150 persons trained
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Impacts (2)Impacts (2)
 In the last 8 years
 Consulted for 5 major institutions inc. the World Bank
 Completed about 10 policy research projects
 About 3 policy research projects ongoing
 Connected with over 5 related int’l institutions
 SPRU (Sussex, UK)
 UNU-MERIT (the Netherlands)
 NEPAD (Africa)
 STEPRI (Ghana)
 CESTI (South Africa)
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Key ThemesKey Themes
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 Entrepreneurial and business experience*
 What proportion of students is interested in
entrepreneurship?
 What proportion of undergraduates is presently involved
in business?
 What factors motivated or discouraged students’ past
involvement in business?
 Is there a link between past involvement in business and
the decision of students to become entrepreneurs?
*Scott and Twomey (1988)
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Key Themes addressed (1)Key Themes addressed (1)

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 Family Background*
 Are students influenced by their families’
entrepreneurial history?
 Do family characteristics (income, educational levels
and size) affect decisions to become entrepreneurs?
*Verheul et al (2002); Scott and Twomey (1988)
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Key Themes addressed (2)Key Themes addressed (2)

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 Entrepreneurial Education*
 How important is entrepreneurial education?
 How is its impact to be measured?
*Wang and Wong (2005); Stewart et al (1999)
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Key Themes addressed (3)Key Themes addressed (3)

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Key Themes Addressed (4)Key Themes Addressed (4)
 Attitude and aspirations*
 What are the current attitudes of young Nigerians
towards entrepreneurship?
 What socio-economic, demographic, academic and
cultural factors (ethnic origin, course of study,
academic performance as reflected in CGPA,
students’ age, gender, marital status) influence
the fostering and development of
entrepreneurship?
*Verheul et al (2002; 2005); McClelland (1961)
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Key Themes Addressed (5)Key Themes Addressed (5)
 Orientation*
 Do young Nigerians envisage themselves becoming
entrepreneurial?
 How would this entrepreneurship manifest itself?
 If entrepreneurship is typified by certain
characteristics, do young Nigerians think they
possess these traits?
*Bird (1988); Boyd and Vozikis (1994); Cunningham et al (1995)
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Key Themes Addressed (6)Key Themes Addressed (6)
 Government policy and environmental
factors*
 What do young people perceive as practical or
structural barriers to entrepreneurship?
 What do they perceive as enhancers of
entrepreneurship?
 How do they perceive the role of government
programs and initiatives?
 Are these programs and initiatives adequate to
promote entrepreneurship?
*Verheul et al (2002; 2005)(c) 2008 NACETEM 22

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Key Themes Addressed (7)Key Themes Addressed (7)
 Predicting and promoting
entrepreneurial behavior
 What factors best explain the propensity of
students to become entrepreneurs?
 What policies should be adopted to promote
entrepreneurship among students?
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Main ResultsMain Results
Sample CharacteristicsSample Characteristics
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Academic Characteristics of the selected studentsAcademic Characteristics of the selected students
Field of Study Percentage (N=6236)
Engineering/Technolog
y
52.3
Pure sciences 17.6
Agriculture 11.8
Social sciences 2.3
Management sciences 15.9
CGPA Percentage (N=4417)
1.00+
2.40
2.00+
29.52
3.00+
51.66
4.00+
16.46
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26. Socio-demographic characteristics of the RespondentsSocio-demographic characteristics of the Respondents
(c) 2008 NACETEM
26
Age Group Percentage
(N=6144)
16-20 13.4
21-25 60.7
26-30 21.5
31-35 3.1
36-40 0.8
Above 40 0.4

27. Socio-demographic characteristics of the RespondentsSocio-demographic characteristics of the Respondents
(c) 2008 NACETEM
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Main ResultsMain Results
Entrepreneurial and BusinessEntrepreneurial and Business
ExperienceExperience
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Students’ Interest in Entrepreneurship (N=5791)Students’ Interest in Entrepreneurship (N=5791)
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30. Entrepreneurial Involvement of the Students (N=5898)Entrepreneurial Involvement of the Students (N=5898)
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Pattern of Students’ Entrepreneurial Involvement (N=5898)Pattern of Students’ Entrepreneurial Involvement (N=5898)
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Some ComparisonsSome Comparisons
Country Students’ Business
Engagement (%)
Students’
Entrepreneurial
Interest (%)
Nigeria 27 85
Australia 10.3* 68.2*
United States 65#
Singapore 50.7†
(c) 2008 NACETEM 32
* Sergeant and Crawford, 2001
#
Kourilsky and Walstad, 1999
†
Wang and Wong, 2004

33. Influence of Entrepreneurial Experience on InterestInfluence of Entrepreneurial Experience on Interest
(c) 2008 NACETEM
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B SE Wald Exp(B)
Entrepreneurial
Experience
1.107 0.108 104.442 3.025
Constant 1.406 0.206 1292.486 4.080
Pseudo R2
0.039

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Factors motivating student entrepreneurs in order of strengthFactors motivating student entrepreneurs in order of strength
Factors Percent
(n=1861)
Personal interest 30.74
Parent 19.29
Desire to make
money
17.25
Self-actualization 15.91
Peers 5.64
Relatives 4.67
Sibling 3.44
Circumstances 3.06
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Factors discouraging student entrepreneurs in order of strengthFactors discouraging student entrepreneurs in order of strength
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Main ResultsMain Results
Family BackgroundFamily Background
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Family entrepreneurial history and students’ entrepreneurial attitudeFamily entrepreneurial history and students’ entrepreneurial attitude
(c) 2008 NACETEM 37
Entrepreneurial
Interest
Techno-
Business
Preference
Has any of your parents initiated or run a
business in the past?
0.193** 0.031*
Is the business ongoing?
0.065** 0.007
Has any of your close relatives initiated or run
a business in the past?
0.195** 0.035*
Is the business ongoing?
0.102** 0.037*
** Correlation is significant at the 0.01 level 2-tailed.
* Correlation is significant at the 0.05 level 2-tailed.

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Parents’ Socio-demographics and Students’ Entrepreneurial Attitude:Parents’ Socio-demographics and Students’ Entrepreneurial Attitude:
CorrleationsCorrleations
(c) 2008 NACETEM 38
Entrepreneurial
Interest
Techno-Business
Preference
Range of Monthly
Income
Father -0.059** -0.089**
Mother -0.014 -0.095**
Highest Level of
Education
Father -0.088** -0.079**
Mother -0.083** -0.095**
Number of Children Father 0.043** 0.032*
Mother 0.024 0.022
Position in Family Father -0.022 0.020
Mother -0.041** 0.006
** Correlation is significant at the 0.01 level 2-tailed.
* Correlation is significant at the 0.05 level 2-tailed.

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Main ResultsMain Results
Entrepreneurial EducationEntrepreneurial Education
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Students’ Exposure to Entrepreneurial EducationStudents’ Exposure to Entrepreneurial Education
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Students’ Entrepreneurial Education and InterestStudents’ Entrepreneurial Education and Interest
(c) 2008 NACETEM 41
B SE Wald Exp(B)
Entrepreneurial
Education
1.048 0.089 137.469 2.852
Constant 1.335 0.163 1018.945 3.801
Pseudo R2
0.048

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Students’ Entrepreneurial Education and InterestStudents’ Entrepreneurial Education and Interest
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Sources of entrepreneurial education by ownership of institutionsSources of entrepreneurial education by ownership of institutions
Ownership
Sources of
entrepreneurial
education
Public
Universitie
s
(N=1129)
Private
Universities
(N=309)
Polytechni
cs
(N=602)
COE
(N=213)
An elective 20.99 8.09 21.76 11.74
A core course 27.55 79.29 31.89 45.07
Part of another course 9.21 4.85 11.63 21.60
A private arrangement 28.96 6.80 21.26 17.84
An informal exposure 22.76 5.83 16.11 20.66
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Main ResultsMain Results
Students’ CharacteristicsStudents’ Characteristics
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Students’ Characteristics and Entrepreneurial InterestStudents’ Characteristics and Entrepreneurial Interest
Entrepreneurial
Interest
Techno-Business
Preference
Age 0.031* 0.007
Gender -0.135** 0.056**
Marital status -0.074** 0.036*
Ethnic origin 0.095** -0.001
Faculty/school -0.040** 0.033*
Present level of
study -0.046** -0.009
Present CGPA -0.011 -0.027
(c) 2008 NACETEM 45
** Correlation is significant at the 0.01 level 2-tailed.
* Correlation is significant at the 0.05 level 2-tailed.

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Personal Entrepreneurial Characteristics (PEC)Personal Entrepreneurial Characteristics (PEC)
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Main ResultsMain Results
Gender DifferentialsGender Differentials
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Gender Differentials in Students’ Entrepreneurial Interest and ExperienceGender Differentials in Students’ Entrepreneurial Interest and Experience
Male (%) Female
(%)
Interested in starting own business*
(N = 3691; 2017)
87.4 77.0
Presently involved in business**
(N = 3743; 2071)
29.2 23.2
Motivating factors for involvement in
businesses (N = 1023; 443)
Parents 21.9 29.1
Sibling 3.8 5.6
Relatives 5.4 6.8
Personal interest 38.6 38.4
Desire to make money 22.7 19.9
Self-actualization 22.6 14.2
Events 4.0 3.6
Peers 6.8 7.9
(c) 2008 NACETEM 48
*χ2
= 104.26; p < 0.001 **χ2
= 24.51; p < 0.001

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Gender Differentials in Students’ Entrepreneurial Interest and ExperienceGender Differentials in Students’ Entrepreneurial Interest and Experience
Independent Variables Male EI Female
EI
Age 0.026 0.007
Marital Status -0.069** -0.048*
Ethnic Origin 0.075** 0.082**
Number of father’s children 0.056** 0.028
Number of mother’s children 0.048** 0.006
Position among mother's children -0.005 -0.073**
Father’s highest level of education -0.079** -0.074**
Mother’s highest level of education -0.058** -0.084**
Father’s range of monthly income -0.044* -0.045
Parents’ entrepreneurial history 0.144** 0.240**
Is the business on-going? 0.053** 0.095**
Close relatives’ entrepreneurial history 0.170** 0.214**
Is the business on-going? 0.102** 0.112**
Exposure to entrepreneurial
training/course
0.141** 0.178**
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Main ResultsMain Results
Government Support andGovernment Support and
Environmental FactorsEnvironmental Factors
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Sources of funds for student entrepreneurs in order of strengthSources of funds for student entrepreneurs in order of strength
Sources of funds Percent
(n=1699)
Personal savings 57.33
Family savings 15.60
Loans from family and
friends
11.60
Bank loans 5.18
Family inheritance 3.65
Co-operative loans 3.53
Government sources 3.12
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Government Support in order of adequacyGovernment Support in order of adequacy
Government Assistance Adequacy rating
(%)
Improved Telecommunication Facilities 79.7
Easy access to Market 63.5
Training 57.6
Improved Transport Facilities 57.3
Technical Support 54.4
Business Advisory Services 51.9
Improved Access to Machinery 47.2
Improved Public Water Supply 46.4
Finance 44.7
Improved Security 44.0
Stable Power Supply 37.6
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Days Required to Register a New BusinessDays Required to Register a New Business
Country Business Startup Delay
(days)
USA 5
Turkey 9
Egypt 19
South Korea 22
Bangladesh 37
Nigeria 43
Iran 47
Philippines 48
Vietnam 50
Indonesia 97
Mexico ..
Pakistan ..
(c) 2008 NACETEM 53
Source: World Development Indicators Database, July 2008

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Main ResultsMain Results
Models of Student EntrepreneurshipModels of Student Entrepreneurship
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Regression Model of PEC variables and EIRegression Model of PEC variables and EI
B S.E. Wald Sig. Exp(B)
Persistence 0.245 0.042 34.547 0.001** 1.278
Opportunity & Initiative 0.214 0.047 20.992 0.001** 1.239
Information Seeking 0.143 0.041 11.955 0.001** 1.153
Independence and Self-
Confidence
0.125 0.043 8.638 0.003** 1.133
Goal Seeking -0.119 0.051 5.389 0.020* 0.888
Risk Taking 0.050 0.040 1.527 0.217 1.051
Constant -0.676 0.322 4.407 0.036 0.509
(c) 2008 NACETEM 55
R2
=0.042

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Regression Model of Significant Variables and EIRegression Model of Significant Variables and EI
B S.E. Wald Sig. Exp(B)
Access to enough funds 4.165 0.221 356.4 0.001** 64.363
Course of Study 0.283 0.117 5.9 0.015* 1.327
Parents’ Business
Experience
0.248 0.112 4.9 0.027* 0.780
Age 0.229 0.105 4.8 0.029* 1.257
Entrepreneurial
Disposition
-0.162 0.079 4.2 0.041* 0.850
Constant 1.022 3.015 0.1 0.169
(c) 2008 NACETEM 56
R2
=0.351

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Regression Model of Significant Variables, PEC and EIRegression Model of Significant Variables, PEC and EI
B S.E. Wald Sig. Exp(B)
Access to enough funds 4.358 0.259 282.564 0.001** 78.065
Age 0.389 0.126 9.612 0.002* 1.476
Persistence (PE) 0.284 0.098 8.404 0.004* 1.328
Parents’ Business
Experience
0.298 0.124 5.734 0.017* 0.743
Course of Study 0.269 0.130 4.303 0.038* 1.309
Constant -5.080 1.440 12.441 0.000 0.006
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R2
=0.391

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Regression Model of Business PreferenceRegression Model of Business Preference
B S.E. Wald Sig. Exp(B
)
Risk Perception 0.21 0.05 18.56 0.01** 1.23
Persistence -0.22 0.05 19.52 0.01** 0.80
Goal setting 0.15 0.06 6.56 0.01** 1.17
Entrepreneurial Education as Private
Course
-0.41 0.18 5.10 0.02* 0.67
Parents business experience 0.11 0.06 3.25 0.07* 1.11
Entrepreneurial disposition -0.11 0.05 5.60 0.02* 0.90
Constant 0.04 0.61 0.00 0.95 1.04
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ImplicationsImplications
&&
ConclusionsConclusions
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ImplicationsImplications
 Many students want to be entrepreneurs but few
actually do
 Mentorship is important to stimulate and sustain
students’ entrepreneurial interest
 Funding and infrastructure need to be in place
 Introducing entrepreneurial curricula is beneficial
 There is need to pay attention to female students
in the long run
 Risk aversion is not a problem among students
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ImplicationsImplications
 There is a 3.9% likelihood that student entrepreneurs would
like to remain as entrepreneurs
 Exposure to entrepreneurial education explains 4.8% of
students’ interest in entrepreneurship
 Students’ PEC explains 4.2% of their interest in
entrepreneurship
 Fund availability, Discipline, Family’s entrepreneurial history,
age and entrepreneurial disposition explain 35.1% of students’
interest in entrepreneurship
 Fund, Age, Persistence, Family’s entrepreneurial history and
discipline explain 39.1% of students’ entrepreneurial interest
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ConclusionsConclusions
 All students are not equally likely to become
entrepreneurs
 Students are most likely to be entrepreneurs when
they are mature in terms of age, their parents had
been entrepreneurs, they study in the
sciences/engineering, they learn to be persistent
and are given sustainable access to funds
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Your Comments, pls…Your Comments, pls…
Thank you forThank you for
listeninglistening
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Venturing 14 (2), pp. 189–214.
 M.G. Scott and D.F. Twomey (1988). The long-term supply of entrepreneurs: students’ career aspirations in
relation to entrepreneurship. Journal of Small Business Management 26 (4), pp. 5–13.
 B. Cunningham, P. Gerrard, F.P. Chiang, K.Y. Lim and C.L. Siew (1995). Do undergraduates have what it takes
to be entrepreneurs and managers of small businesses in Singapore?. Journal of Asian Business 11 (4), pp.
35–49.
 A. Ghazali, B.C. Ghosh and R.S.T. Tay (1995). The determinants of self-employment choice among university
graduates in Singapore. International Journal of Management 12 (1), pp. 26–35.
 Verheul, Ingrid, van Stel, Andre, Thurik, Roy (2005). Explaining Female and Male Entrepreneurship at the
Country Level. Erasmus Research Institute of Management Report Series Research in Management
 Wang, C. K. and Wong, Poh-Kam (2004). Entrepreneurial interest of university students in Singapore.
Technovation 24 (2004) 163-172.
 Timmons, J. A. (1994). New Venture Creation – Entrepreneurship for the 21st
Century. Irwin, Boston
 Bird, B. (1988). Implementing entrepreneurial ideas: The case for intention. Academy of Management
Review, 13(3), 442-453.
 Boyd, N. G., & Vozikis, G. S. (1994). The influence of self-efficacy on the development of entrepreneurial
intentions and actions. Entrepreneurship: Theory and Practice 18(4), pp. 63-77.
 McClelland, D. C. (1961). The Achieving Society. New York: Van Nostrand.
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