The resurgence and popularity of entrepreneurship among policy makers in the 21st century is accentuated by the perceived importance and its efficacy in promoting country’s economic prosperity, reducing poverty and unemployment amongst others. Many believed that the slow face of entrepreneurship development could be linked to Nigeria educational policies. Therefore, the objectives of this paper are two, first to qualitatively review the role of educational policies in promoting entrepreneurship. Secondly, highlight the implications of entrepreneurship amidst poverty and unemployment in Nigeria. The Nigeria educational policy during the colonial period was geared toward preparing able men and women for effective administration of Nigeria colony and protectorates. Nigeria, despite its vast material and human resources fails to provide required job for teaming job seekers and increase the general income level of people over the last two or three decades. It is believe that the high poverty and unemployment rate in Nigeria are clear indications that the country has a good cause for fighting poverty and unemployment. It was argued that pursuing entrepreneurship might have serious implications in addressing the country’s economic developmental issues. Similarly, entrepreneurship practice in an economy such as Nigeria could reveal many exciting information. It is interesting to find whether the businesses created by the poor and unemployed translate into economic growth or not. On the one hand, it was argued that business created by this group of people can have indirect effect to the economy. The successful ones can create jobs for others and stimulate innovations which will subsequently contribute to the overall productivity and competitiveness of the economy. It is expected that entrepreneurship could make serious impact especially in Nigeria.