The standard of education in Nigeria has been declining, the level of unemployment continues to rise and the nation's economic development is stagnant. Its educational institutions appear to engage more in unproductive paperwork and teaching than in entrepreneurship education that would help to equip young graduates to become self-employed and employers. In 2011 some 24% of Nigerians were jobless, with unemployment rates of over 17% in urban areas and nearly 26% in rural areas. A productive education system is a vital component of a developed economy, but in Nigeria the education sector has long suffered from neglect. Corruption, poor continuity in government and a dearth of qualified personnel in the teaching profession are some of the principal impediments. The authors recommend a review of the country's educational policies so that these policies can be made responsive to social and economic needs.