Varsities Must Tackle Poverty, Unemployment – Prof Asikhia

As Nigeria battles rising graduate unemployment and stubborn inflation, a Professor of Strategy and Entrepreneurship, Prof. Olalekan Asikhia, has urged universities and other higher institutions to overhaul their curricula to better serve national priorities, strengthen human-capital development, and support emerging economic sectors.

Speaking at Babcock University’s 57th inaugural lecture held at the school’s main campus in Ilishan-Remo, Ogun State, Asikhia said tertiary institutions must take the lead in tackling poverty and driving long-term economic progress.

Delivering a lecture titled “It is Time for Functional Businesses to Kill Poverty in Africa,” he stressed that aligning academic programmes with the nation’s development agenda would equip graduates with the skills needed for today’s economy and position universities as true agents of national competitiveness.

According to him, Nigerian universities must shift from merely teaching and conducting research to functioning as active hubs of entrepreneurship and innovation, describing them as crucial in Nigeria’s shift from a resource-based economy to a knowledge-driven one.

Breaking down a three-pronged framework for combating scientific, educational and cultural poverty, he explained that university-driven research and innovation can offer real, practical solutions to Nigeria’s economic problems. He added that tackling educational poverty requires broadening access to quality learning, financial support and technical skills, while the cultural component focuses on instilling values, social cohesion and innovative thinking that build resilient communities.

Asikhia recommended stronger collaboration between universities and the Corporate Affairs Commission (CAC) to help register and support student-owned businesses so they can operate legally while still in school. He also advocated for more flexible curricula that meet National Universities Commission (NUC) standards.

He argued that student entrepreneurs must be empowered to overcome traditional resource limitations, reduce operational costs and reach global markets.

Asikhia further highlighted the need for universities to conduct research tailored to real socio-economic problems and to invest in community-development projects that directly improve lives.

He said higher institutions should serve as incubators for innovation by providing students with access to research labs, mentorship, and funding opportunities.

The professor also urged business owners to build scalable ventures and strengthen partnerships with universities so students can gain hands-on experience, develop 21st-century skills, and improve their employability.

He noted that such collaboration boosts job creation and stimulates economic growth.

Asikhia called on universities to align with the Universities for Poverty Alleviation movement, which pushes institutions to embed poverty-reduction strategies into their core mandates.

He wrapped up by stressing the urgent need for Nigerian universities to embrace a proactive, market-focused approach that equips graduates with the creativity, resilience, and practical skills required for self-reliance and societal progress.