Locus Control and Entrepreneurial Intention among Nigerian Graduates: Mediation Analysis of Self-Efficacy and Need for Achievement

Abstract

The study examines the mediating effects of self-efficacy (SE) and the need for achievement (NFA) on the relationship between locus of control (LC) and entrepreneurial intention (EI) among Nigerian graduates. A survey technique was used to select young graduates from Nigerian Tertiary Institutions that are on the National Youth Service Corps (NYSC) in Oyo State, Nigeria. A total of 300 copies of the structured questionnaire were administered to the respondents in the Ibadan metropolis but only 252 copies of the questionnaire were retrieved for the analysis. Data analysis was performed with the aid of Path Analysis. The results reveal that LC has a positive and significant association with SE, NFA and EI. Evidence also indicates that SE partially mediates between LC and EI. It was also found that the NFA partially mediates between LC and EI. For this reason, experiential learning should be integrated into short and long terms entrepreneurship training. This allows students to further develop their self-efficacy as entrepreneurs and motivation to perform by successfully entering the world of business. This will go a long way in reducing the dire unemployment rate in the country and promote imaginative and positive 2030 aspirations for sustainable development.