Entrepreneurship Education for Poverty Reduction Among Retirees in Enugu State, Nigeria

Entrepreneurship Education for Poverty Reduction Among Retirees in Enugu State, Nigeria

Chapter One

Purpose of the Study

The general purpose of this study is to investigate the entrepreneurship education for poverty reduction among retirees in Enugu State.

Specifically, the study seeks to ascertain:

The extent to which entrepreneurship education enhances the technical skills for poverty reduction among retirees in Enugu State;
The extent to which entrepreneurship education enhances business management skills for poverty reduction among retirees in Enugu State;
The challenges that hinder entrepreneurship education for poverty reduction among retirees in Enugu State;
The strategies for enhancing entrepreneurship education for poverty reduction among retirees in Enugu State.

CHAPTER TWO

REVIEWED OF RELATED LITERATURE

Poverty

The concept “poverty” has been defined from various approaches by scholars to divergent ideological perspectives. The United Nations. Programme (UNDP, 1994) defines poverty as that income level below which a minimum nutritionally adequate diet together with essential non-food requirements are not affordable. Poverty is grouped by UNDP in tree broad categories as contained in the universally accepted definition to mean absolute poverty, relative and material poverty.

Absolute poverty means the inability to provide such physiological subsistence (i.e. foods, shelter, clothing, potable water, safety, healthcare service, basic education, transportation and gainful employment) to the extent of being unable to protect human dignity. People under this category receive meager income and their capacity to make savings is zero.

Relative poverty means inadequate income to enhance active participation in societal activities to the extent that it limits the actualization of one’s potentials. In this type of poverty, the minimum requirements of an individual are determined by caloric intake of square metres of shelter per person. Poverty here means inability of one to satisfy his basic social needs. Material poverty is the deprivation of physical assets such as cash-crop trees, land, animal husbandry, and so on (UNDP, 1994).

Nigeria is the most populous black African country with a population of about 150 million people made up of over 250 ethnic groups (National Population Commission, 2006). The majority of the population is enmeshed in the net of abject poverty due to faulty economic policies, faulty education curriculum and unsustainable poverty alleviation programmes of successive governments

Unemployment

Unemployment and total employment are the broadest indicator of economic activity as reflected by the labour market. The International Labour Organization (ILO) defines unemployed as members of the economically active population who are without work but available for and seeking work, including people who have lost their jobs or who have voluntarily left work (IBRD, 2009). Morio and Zoctizoum (1980) define unemployment as works available for employment who contract of employment who contract of employment has terminated or been temporarily suspended and who are without a job and seeking paid employment, persons never previously employed whose most recent status was other than that of employee, together with persons who had been in retirement, who were available for work during the specified period and were seeking paid temporarily or indefinitely laid off without pay. In Nigeria’s unemployment scenario, the young school leavers of all categories are the worst hit. These creams of jobless youths belong to the major workforce of the economy but being wasted as they seek for job endlessly without success.

A study on the distribution of unemployment, conducted by Ogunrinola (2008) quoted in Federal Ministry of Youth Development on Youth employment action plan 2009 – 2011 project, reveals that unemployment in Nigeria affects job seekers within the ages of 20-24 and 25 – 44 years more than any other age groups in Nigeria. This marks a great threat to the domestic economy since it implies that many energetic youths are without gainful employment. A breakdown analysis of the study revealed that the secondary school leavers were worst hit by the unemployment crisis in Nigeria (Federal Ministry of Youth Development, 2008). In this scenario, it is evident to contend that the high rate of unemployment among the well educated graduates is the consequence of institutional failure. The Nigerian government of all levels has failed in its contractual obligation to respect and sustain its social contract and promises with the people. Because of the prevalent of poverty and unemployment rate there is total collapse of social order, high rate of insecurity of lives and properties. It is pertinent to show that the government is not in total control of these ugly situations in spite of its claim that the government is on top of reducing poverty and unemployment rate

CHAPTER THREE

RESEARCH METHODOLOGY

INTRODUCTION

In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.

RESEARCH DESIGN

Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.

POPULATION OF THE STUDY

According to Udoyen (2019), a study population is a group of elements or individuals as the case may be, who share similar characteristics. These similar features can include location, gender, age, sex or specific interest. The emphasis on study population is that it constitutes of individuals or elements that are homogeneous in description.

This study was carried to examine Entrepreneurship education for poverty reduction among retirees . Enugu state form the population of the study.

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS

INTRODUCTION

This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of eighty (80) questionnaires were administered to respondents of which only seventy-seven (77) were returned and validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 77 was validated for the analysis.

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATION

Introduction

It is important to ascertain that the objective of this study was to ascertain Entrepreneurship education for poverty reduction among retirees in Enugu state. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing entrepreneurship education for poverty reduction among retirees in Enugu state

Summary

This study was on Entrepreneurship education for poverty reduction among retirees in Enugu state. Four objectives were raised which included: The extent to which entrepreneurship education enhances the technical skills for poverty reduction among retirees in Enugu State, the extent to which entrepreneurship education enhances business management skills for poverty reduction among retirees in Enugu State, the challenges that hinder entrepreneurship education for poverty reduction among retirees in Enugu State and the strategies for enhancing entrepreneurship education for poverty reduction among retirees in Enugu State.. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from selected Enugu State. Hypothesis was tested using Chi-Square statistical tool (SPSS).

Conclusion

In conclusion, the study on entrepreneurship education for poverty reduction among retirees in Enugu State, Nigeria highlights the potential benefits of providing entrepreneurship education to retirees as a means of reducing poverty among this population. The findings of the study suggest that retirees who undergo entrepreneurship education are more likely to start and sustain their own businesses, which can improve their financial stability and reduce their dependence on government pensions.

The study also highlights the importance of providing entrepreneurship education that is tailored to the needs and circumstances of retirees. This includes addressing the unique challenges that retirees may face when starting a business, such as limited access to financing, reduced mobility, and health issues.

Overall, the study underscores the need for policymakers and educational institutions to prioritize entrepreneurship education for retirees as a means of promoting poverty reduction and economic development. By equipping retirees with the skills and knowledge they need to start and sustain their own businesses, we can help to create a more prosperous and equitable society for all.

Recommendation

Based on the findings of the study on entrepreneurship education for poverty reduction among retirees in Enugu State, Nigeria, the following recommendations can be made:

Government and non-governmental organizations should prioritize entrepreneurship education for retirees as a means of reducing poverty among this population. This can include providing training and resources to help retirees start and sustain their own businesses.
Educational institutions should offer entrepreneurship education programs that are tailored to the needs and circumstances of retirees. This can include providing training in areas such as financial management, marketing, and business planning.
Financial institutions should develop loan products and other financial services that are designed to meet the unique needs of retirees who are starting their own businesses. This can include offering flexible repayment terms, lower interest rates, and other incentives.
There is a need for a sustained and collaborative effort among various stakeholders to ensure the success of entrepreneurship education programs for retirees. This can involve partnerships between government agencies, educational institutions, financial institutions, and non-governmental organizations.
The government should develop policies and programs that promote entrepreneurship among retirees, such as tax incentives and other forms of support.

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