This article centered principally on the effect of entrepreneurship education on economic development in Nigeria. The study adopted a theoretical approach supported with secondary data sourced from text books, journals and internet materials. The findings revealed that enriched and well packaged entrepreneurship education can enhance skill acquisition and capacity building, foster entrepreneurship development and fast tract economic growth in Nigeria. It was therefore recommended that entrepreneurship education should be centered on practical orientation rather than the theoretical appreciation of the course in our various institutions. It further recommended that the government should establish good study centers with well qualified personnel to educate and train the prospective entrepreneurs, and make funds available to them at the end of the programme for business formation enrich and repackage entrepreneurship education, curriculum for application in Nigerian schools and colleges.