Suitability, challenges and way forward for university accounting education in Nigeria

The purpose of this paper is to identify the suitability, challenges and the way forward for University accounting education in Nigeria in producing graduates fit for the labour market and the profession. The study is motivated by the report of the ACCA on drivers of change and future skills expected of accountants and problems facing higher education in Nigeria. The study adopts a mixed research method. It used a structured questionnaire to elicit information from the accounting students, academics and practitioners. Focused group discussion was undertaken to explore the issues at stake further. Descriptive statistics and T-test statistics were used to analyse the data and compare perceptions across the various stakeholders. The study found a deficient university accounting curricula, poorly motivated Nigerian accounting lecturers and poor cooperation between professional accounting bodies and the academia, among others. Two stakeholder groups had reservations on the ability of the present university education in Nigeria to produce future accountants fit for the labour market and the profession. Recommendations for repositioning include internationalisation of Nigerian university accounting curricula, motivating university accounting lecturers through improved conditions of service and international staff exchanges. This result should be of interest to Nigerian regulators, professional bodies and the universities.