Nigerian universities must lead the fight against poverty, graduate unemployment – Prof. Olalekan Asikhia

As Nigeria continues to grapple with rising graduate unemployment and persistent inflation, a Professor of Strategy and Entrepreneurship, Prof. Olalekan Asikhia, has called on higher institutions to redesign their curricula to meet national needs, drive human-capital development, promote emerging economic sectors and support social mobility.

Delivering the 57th inaugural lecture of Babcock University at the institution’s main campus in Ilishan-Remo, Ogun State, Prof. Asikhia said universities have a central role in reducing poverty and stimulating sustainable economic growth.

In the lecture titled It is Time for Functional Businesses to Kill Poverty in Africa, he stressed that universities can empower individuals to break the cycle of poverty by creating curricula aligned with national development priorities.

“This approach not only prepares graduates for the dynamic demands of the modern economy, but also positions universities as pivotal contributors to national competitiveness and economic development,” he said.

Prof. Asikhia argued that Nigerian universities must move beyond traditional teaching and research to become active engines of entrepreneurship and innovation, describing them as “critical agents in Nigeria’s transition from a resource-dependent economy to a knowledge-driven society.”

Highlighting a three-dimensional model of scientific, educational and cultural poverty alleviation, he explained that university-led research and technological innovation can offer practical solutions to pressing economic challenges. Educational interventions, he noted, require expanding access to quality learning, financial aid and vocational training, while the cultural dimension involves promoting values, social cohesion and innovative thinking that support sustainable community development.

He recommended structured collaboration with the Corporate Affairs Commission to register and support student start-ups, enabling them to operate even while in school, and called for flexible curricula that align with National Universities Commission (NUC) standards.

“Student entrepreneurs should be empowered to overcome traditional resource constraints, reduce operational costs and access global markets,” he said.

Prof. Asikhia also underscored the value of university-led research targeted at socio-economic challenges and community-service initiatives that directly impact local populations.

“The presence of higher institutions of learning in a community should foster an environment where innovation, entrepreneurship and collaboration thrive,” he added, urging universities to serve as incubators for start-ups through research facilities, mentorship and access to funding.

He further encouraged business owners to prioritise building scalable start-ups and creating platforms for university-industry collaboration to provide students with exposure to real-world practices, equip them with essential 21st-century skills and enhance their employability.

“This symbiotic relationship between universities and local businesses enhances job creation and stimulates economic growth,” he noted.

Prof. Asikhia also highlighted the importance of partnering with the Universities for Poverty Alleviation movement, which promotes the integration of poverty-reduction strategies into higher institutions’ core missions.

He concluded by emphasising the urgent need for Nigerian universities to adopt a more proactive, market-oriented approach to equip graduates with the skills, creativity and resilience required for self-reliance and societal advancement.