BUSINESS EDUCATION AND THE CHALLENGE OF LEGAL RECOGNITION IN NIGERIA: IMPLICATIONS FOR POLICY AND INSTITUTIONAL DEVELOPMENT IN EMERGING DEMOCRACIES

This study investigated the impact of legal recognition and institutional development on the effectiveness and sustainability of Business Education in Nigeria. The study was structured around three research questions and three hypotheses. Utilizing Systems Theory, Human Capital Theory, and Institutional Theory as a foundation, the study employed a correlational ex post facto research framework. The research included a population of 10,742 lecturers, administrators, and policy officers from universities and colleges of education in Nigeria. A stratified random sample comprising 400 participants was chosen from the six geopolitical regions. Data was gathered through a validated tool known as the Business Education Legal Recognition and Institutional Development Questionnaire (BELRIDQ), which achieved a reliability coefficient of 0.89. Descriptive statistics, Pearson’s correlation, and multiple regression analysis were conducted at a 0.05 significance level using SPSS (Version 27). The results indicated a significant positive correlation between legal recognition and the development of Business Education (r = 0.54, p < 0.05), as well as between institutional development and program quality (r = 0.49, p < 0.05). Together, these elements accounted for 35% of the variance (R² = 0.35) in Business Education outcomes. The study concludes that legal recognition and institutional growth are synergistic elements that bolster the legitimacy, efficiency, and sustainability of Business Education in Nigeria. It recommends the establishment of a Business Education Act, enhanced institutional capacity, increased funding, and better policy coordination to ensure that Business Education acts as a legally recognized catalyst for entrepreneurship, innovation, and national advancement.