Private Cost and Benefit of Entrepreneurship Education and Employment Opportunities Amongst Graduates in Lagos State, Nigeria

Abstract

This study investigated the private cost and benefits of entrepreneurship education and their impact on employment opportunities amongst graduates in Lagos State, Nigeria. In the face of youth unemployment, entrepreneurship education is promoted as a pathway to enhance employability by fostering job-creation skills. However, the private costs, including tuition fees and material expenses impose significant financial burdens. Employing a descriptive survey design, data were collected from 400 graduates of public tertiary institutions using structured questionnaires. Pearson analysis and ANOVA revealed that while entrepreneurship education has a positive impact on graduate employability, the financial constraint disproportionately affects students from low-income backgrounds. The findings showed a weak, non-significant relationship between private costs and the benefits of entrepreneurship education but a stronger, significant relationship between its benefits on graduate employability. These findings emphasized the need for policy interventions, government support and institutional reforms, to make entrepreneurship education more accessible and effective, to address financial barriers in order to take full advantage of entrepreneurship education to decrease unemployment; its private costs need careful consideration to gain valuable development in Nigeria.

Keywords: Private Cost, Entrepreneurship Education, Employment Opportunities, Graduates, Benefits