ECONOMIC RECESSION IN NIGERIA: A CHALLENGE TO BUSINESS EDUCATION

Abstract

The inefficiency and incompetence of the federal and states including the local governments of Nigeria in transforming the economy of the country in the last two decades,  has resulted to the economic recession that is affecting all sectors of the economy in Nigeria, mostly the educational sector and business education in particular. The erratic changes have created new demands for more adaptable, multi-skilled and creative labour. To meet the demands, it has become necessary to reduce the gap between academic education and vocational education; to develop competency-based curriculum development mechanism; to strengthen the co-operation between education authorities, government/employment organizations as well as industries, to decentralize the delivery system and to involve employers more in the process of technical vocational education and training (TVET) which business education is a core component. This paper attempts to x-ray the Nigerian situation in this time of economic recession and the Challenge to Business Education in Nigeria.

Keywords: Business Education, economic recession, coping and challenges.