7th Inaugural Lecture

Title:               Business Education: A Panacea for Employment in a Depressed Economy
Presented By: Dr. Emmanuel Adekunle Aromolaran  mniqsDr Aromolaran
                      Chief Lecturer, Department of Business Education,
                      School of Technical Education
                      Yaba College of Technology, Yaba Lagos, Nigeria
Date:             Wednesday, November 19, 2014

Brief of the Lecture

The title of the lecture was Business Education: A Panacea for Unemployment in Depressed Economy. He started the lecture by explaining business education in the past. He traced the history of business education from the pre-military to the present. He also discussed the reports of various bodies on unemployment: such as the National Bureau of Statistics, National Population Commission and the World Bank to buttress the menace i.e. Unemployment.

He made mention of types, causes and effects of unemployment. He also identified various efforts of the government and private organizations as regard solving unemployment problems; yet, to no avail. He quoted a Bible verse to buttress his assertion Righteousness exalts a Nation.

He spoke on efforts of individuals who own private organizations such as Dangote, Mike Adenuga Jr., Otedola in creating employment and appreciated them. Career guidance was also discussed to guide youths in pursuing functional education while in the school. He discussed extensively on various employment opportunities and career progression in business education as a panacea for unemployment in a depressed economy. He also identified various sources of financing entrepreneurship and small scale businesses to facilitate the creation of employment.

With various researches embarked upon the lecturer in business education, he concluded that business education could reduce unemployment with various skills and competencies acquired by its graduates.

He gave some recommendations that government and banks should relax their conditions for obtaining short term loans to encourage self-employment. He further recommended that unemployed graduates should stop searching for non-existing jobs but should create jobs through the acquisition of skills and competencies in various occupations and entrepreneurship identified and discussed. He recommended the need to develop rural areas in terms of employment creation which will discourage rural-urban migration.

He further recommended that government and individuals should tackle the problems of moral decadence, corruption and other social vices in our society. He suggested technical and vocational education skills acquisition as the tonic for micro, small and medium enterprises in curbing unemployment. He posited for training and retraining of technical and vocational education teachers to keep them abreast of globalization.

He concluded that sincere and sustained government funding of technical and vocational education will make education functional and encourage a purpose driven education.

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