Photo caption: Dr. Samuel Maduka Onyishi
By Charles Okonji
Concerned about the current economic situation of the Nigerian economy, bedeviled with exploding unemployment rate, the Founder and Chancellor of Maduka University, Dr. Samuel Maduka Onyishi, has urged Nigerian universities to adopt a more targeted approach to entrepreneurship education in order to produce job creators rather than job seekers.
Dr. Onyishi made this call while delivering the second Academic Lecture of the Faculty of Health Sciences and Technology at the University of Nigeria, Enugu Campus, titled “Entrepreneurship for Human Development and Economic Progression: A Call on Nigerian Universities.”
He pointed out that the complexities of modern times and the rapidly evolving business environment have rendered the traditional “ivory tower” model of universities increasingly obsolete, stressing that in today’s expanding knowledge economy, universities no longer hold a monopoly on intellectual output.
“Rising global competition means our universities are under increasing pressure to contribute directly to economic development, hence the need for an entrepreneurial shift,” he stated.
According to him, the goal is to equip universities with the capacity to identify and create opportunities, foster innovation, encourage teamwork, embrace calculated risk-taking, and effectively respond to emerging challenges, hallmarks of the entrepreneurial mindset.
He insisted that strategic entrepreneurship education is crucial to reducing widespread unemployment and poverty in Nigeria.
According to him, “Nigerian universities must go beyond theory and adopt a more practical and structured approach to entrepreneurship training.
Describing this as “targeted entrepreneurial education,” Onyishi proposed a comprehensive model that includes: entrepreneurship education, financial literacy, vocational and skill acquisition training, leadership development, time management, legal education, ICT literacy, life skills and healthy living, business intelligence, family planning, cooperative education.”
He emphasized the need for universities to encourage students to form cooperative societies, investment clubs, and partnerships, adding that holiday internships are highly beneficial to students’ development.
“There is a need to set up incubation centres to hone business skills. School farms and agricultural business training programmes would go a long way in ensuring food security. We must all produce what we eat. This is the foundation of self-sufficiency, which is a key index of economic progression,” Onyishi averred.
He warned that Artificial Intelligence is already displacing workers, adding that universities must begin to align with new work patterns to produce graduates who are relevant in a rapidly changing, AI-driven world.
He decried the paradox of a nation with over 48 universities offering medical education, more than 400 nursing schools, and various medical technology institutions, yet still spending over $2.39 billion on medical tourism in 2024 alone.
“Even more is spent on importing medical supplies and consumables. These figures underscore the untapped potential in the medical entrepreneurship space,” he noted.
Onyishi identified the critical elements needed to unlock this potential which include professionals with integrity, long-term investors, various equity models (including sweat equity and consultancy royalties), and strong corporate governance.
Challenging academics and professionals in the audience, he remarked, “Nigeria has 63 federal, 63 state, and 149 private universities. Our number of professors grows daily, yet our institutions have not catalyzed rapid national development. Perhaps we are still trapped in the tradition of the ivory tower. It’s time to reimagine and reconstruct the university of the future — and the way forward is entrepreneurial. We must begin by integrating local initiatives, especially in the medical and allied sectors.”
