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