Role of Government Policy and Innovation for Enhancing the Financial Sustainability of Business Education in Nigerian Universities in a Challenging Economy

This study explored the role of government policy and innovation in enhancing the financial sustainability of business education in Nigerian universities within a challenged economy. A survey research design was adopted, focusing on universities offering business education programs in Nigeria. The population comprised lecturers, administrators, and industry stakeholders involved in business education financing. A total of 400 respondents were selected using simple random sampling, following the sample size determination method of Krejcie and Morgan (1970). Data were collected using a structured questionnaire titled “Government Policy, Innovation, and Financial Sustainability in Business Education Questionnaire” (GPIF-BEQ), which had a reliability coefficient of 0.89. Data analysis involved mean and standard deviation to answer the research questions, while hypotheses were tested using Chi-square analysis at a 0.05 level of significance. The findings revealed that government funding policies significantly impact the financial sustainability of business education, but inconsistencies in allocations and economic fluctuations pose challenges. Additionally, public-private partnerships (PPPs) contribute significantly to addressing financial challenges by improving infrastructure and providing alternative funding sources. Furthermore, technological innovations, such as digital learning platforms and entrepreneurship-driven programs, were found to enhance financial sustainability in business education. The study recommends a diversified funding approach, stronger PPP frameworks, and the integration of technological innovations to reduce financial dependence on government funding and ensure long-term sustainability