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

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Gbemisola Alonge

Gbemisola Alonge

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