Information and communication technology (ICT) constitute an indispensable tool in the world today both for business, teaching and learning, diagnosis and treatment of ailments, and in fact every facet of human endeavor. It therefore holds vast opportunities in entrepreneurship particularly for mature persons as there are in universities. M–learning is a term meaning ‘mobile learning’. Since we now live in a borderless world, mobile ICT tools such as laptops computers, mobile phones and so on come handy as important tools for entrepreneurship. This paper looks at the issues and concerns in the utilization of mobile ICT tools for entrepreneurship in Nigerian universities. Three research questions were answered in the study. Data analysis was done with mean and rank order. It was found among others that students could study and get involved in foreign exchange training and GSM recharge on–line. It was also found that the very slow speed of internet facility and epileptic nature of the internet facility were the two greatest concerns in utilizing m–learning tools for entrepreneurial success. The study recommended among others that Nigerian universities should explore the use of m–learning tools for entrepreneurial success.