IS ENTREPRENEURSHIP EDUCATION REDUCING POVERTY AND INCOME INEQUALITY IN LESS DEVELOPED COUNTRIES? EVIDENCE FROM NIGERIA

Enlisting entrepreneurship policies to address the twin issues of poverty and income inequality in particular, and development in general, has become a standard practice in low-income and less developed countries. Nigeria, Africa’s most populous country, is quintessential in this respect. This study investigates the extent to which entrepreneurship education has reduced both poverty and income inequality among entrepreneurs in South Western Nigeria. The study sample consists of tertiary institution graduates who undertook mandatory entrepreneurship coursework and then operated as micro, small and medium enterprise owners post-graduation. Data analysis reveals weak relationships between entrepreneurship education and both poverty reduction and income inequality, and a marginal effect of entrepreneurship education on the incidence of poverty, depth of poverty and severity of poverty. The study explores factors responsible for these results and makes recommendations on how to enhance the effect of entrepreneurship education.