Going to university is good but quality education matters more
University library.  Source: Iñaki del Olmo via Unsplash

University education is a more profitable investment than the average returns on the stock or bond market. 

Estimates show that the returns on attending university is around 14%, with Nigeria’s as high as 17%

By “return” we mean the increase in your wages relative to not attending university. The improved employability of university graduates drives this. 

In 2018, 54% of Nigeria’s labour force with post-secondary education had formal wage paying jobs. Compared with a third of students with secondary education. 

But how about the remaining 46% of graduates? 

Almost 10% are engaged in farming activities, 5% are unpaid house workers, and around 20% are “self-employed” in non-farm related work. 

A significant number didn't even make it to the labour force. 2018 data showed that 25% of graduates are unemployed.

While the harsh job market is a significant factor, Nigerian university students are also not competitive globally. We hear stories of

This story is only available to Premium subscribers Subscribe or sign in to finish reading

Not ready to subscribe? Register to read a selection of free stories

Gbemisola Alonge

Gbemisola Alonge

Read Latest

Will fintechs replace Nigerian banks?

PREMIUM - 18 AUG 2022

Will Nigerians see the benefits of new railways?

PREMIUM - 17 AUG 2022

How can the CBN control the naira better?

PREMIUM - 16 AUG 2022

How can Nigerian states make more money?

PREMIUM - 15 AUG 2022

Download our mobile app for a more immersive reading experience

Scan QR code
mobile download