Abstract
This paper proposed restructuring the educational system to 5-3-3-1-4 for technological development and poverty alleviation against the backdrop of the failure of the current 6-3-3-4 cum 9-3-4 educational systems in either equipping its graduates with entrepreneurial or employable skills for self-reliance on graduation. The new system put forward by this paper if adopted will in addition to addressing the failure of the current education system/structure, accommodate all categories of Nigerians hitherto uncared for by the current system of education in Nigeria and equip citizens with sellable skills for economic empowerment, gainful employment and freedom from the claws of poverty. The paper presents a new structure of education system with ten potential benefits of restructuring the educational system for technological development and poverty alleviation in Nigeria. The paper advocates competency based education curriculum, more funding of education, teacher training/development and unified tertiary education.