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

Don’t limit your understanding. Join the Premium community to continue reading.

Gbemisola Alonge

Gbemisola Alonge

Read Latest

What kind of regulator does Nigeria’s tech ecosystem need?

PREMIUM - 18 JUN 2021

Nigeria's export crisis: How we are spending more than we earn

PREMIUM - 17 JUN 2021

Nigeria’s trillion naira plan to re-introduce toll gates

PREMIUM - 16 JUN 2021

Explainer: How Nigeria is unifying its exchange rates

PREMIUM - 15 JUN 2021