I have broached the phenomenal features and characteristics of a knowledge society earlier, in which education, critically at the tertiary level, is greatly implicated. The profound transformation taking place globally therefore do not exempt the universities and education at the primary and medium levels have significant roles to play. Governments, our government in particular, must come to full awareness that, in the words of Weber (2008) , ‘higher education (in particular)and research policies, as well as institution strategies and governance, have to be improved to make sure that Universities continue to play the leading role expected of them’ This contribution is essentially in the spheres of ‘economic and social innovations, the attainment of a better society and building the human capacity requisite for the new economy.
This is a perception that investment into universities research is a ‘social contract’ with ‘outcome-based accountabilities’. The universities must rise to this challenge and expectation of the investor of productivity for the sake of the economy. In Nigeria, we are still at the courtship stage—the wooing is on. Marriage is still at large.
However, the challenge of entering the ‘age of knowledge’ in which ‘the key resources necessary for prosperity has become knowledge itself’ (Duderstadt, 2003) should not be placed at the doorsteps of universities alone, even though the optimal capacity for growing a knowledge society through innovation, creativity and entrepreneurship reclines in the Higher Education sector. But, as I said, this entry into the knowledge age must begin from the lower rungs of the educational ladder, if it must have the solid foundation required.
The National University Commission has conceptualized this science and technology drive through a curriculum base in which entrepreneurship is a central concern of university curriculum. I don’t know to what extent this focus has been transformed into reality in the University system,. But I know that even if that were to be fully implemented, it would still be grafting; a top-bottom approach. Where we should begin to entrench innovation enterprise vehicles is right from the technical and vocational levels of education.
I have gone to this extent on the narrative of this initiative to essentialize the need for us to grow our own industrial and technological base by moving away from that superficial and transient Technology Transfer notion to commencing the creation of a critical mass of competent youths with powerful spirit of entrepreneurship as well as managerial and technical knowledge to grow micro enterprises to enhance the private sector. This enterprise will enable young people to self-employ, own their own businesses and develop entrepreneurship; enhancing youth empowerment and enterprise education at the technical college level and engaging a large pool of practitioner- artisans, skilled workforce as well as vocational skills trade and galvanizing the power of entrepreneurial competences –innovation, skills, knowledge and attitudes for self-reliance in a ‘new and dynamic globalized world (Gasper; 2014). As Gasper, from whom I have quoted elaborately summarized it; the time has come for Nigeria to begin to ‘forge industry-academia and development collaboration’. Additionally, the nation needs to review policies that will encourage firms and businesses to engage in Research and Development, and finally encourage capitalists to utilize discoveries from tertiary institutions as well as technical colleges which will be translated into practical economic and social deliverables. It will be superfluous and needless, repetitive to re-hash them at this moment when you are merely tolerating me! But permit me to restate here that there is no short–cut to building a knowledge society through a knowledge economy. Huge funds must be channeled to universities for research and its disbursement must be responsibly and accountably done, so that government can benefit from the investment.
There is a great instruction for the educational sector and government in Nigeria from this telling conclusion by Farina and Hart: “In the knowledge-based agenda, funding of university research is an investment… From the point of view of governments, the universities have moved from being privileged mendicants to primary producers. With this change has come increased funding however now the funding is seen as investment, and performance is demanded.” 
This rings through for the entire educational sector. Smaller nations have committed between 27 % and 33% of their annual budgets to education. I am told this year’s budget proposal has hiked education allocation by 15%. A budget of N493 billion out of a total Appropriation of N4.962 trillion amounts to 10.7% of the national total. This is a welcome news. The increase will certainly strengthen and improve the sector and alleviate the hydra-headed problems bedeviling the sector among which, as we earlier enunciated, inadequate funding, infrastructural decay, acute shortage of qualified teachers and staff development. Yet, as we know, it falls far short of the anticipated commitment by UNESCO. It is a fair effort that needs to be rapidly upped, if our nation is to develop and become globally competitive.
Concluded

Education: Nigeria in a knowledge economy (5)