Why The Most Lucrative Financial Sector In Nigeria Are Dead; A Recipe For Poverty?

in LeoFinance2 months ago

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One of the most difficult decision for almost every young growing African is to either start up a trade, own a business or go to school; acquire a degree and convert it into a means of survival. It's always impossible to do the three or do even two and this is because being born in the midst of scarcity, a dwindling economy and a government that's virtually non-existent means one is reliant on making financial choices. You see, people do not see acquiring degrees as a means to be educated, exposed or learned they see it as an investment that must yield dividends. now notice the word "must"? In reality education itself is only s money making venture for the government; the educational sector is one of the most lucrative in Nigeria.

The reason is because everyone wants to go to school, be financially free and have huge centralised entities pay for their services. But then the billions which the government makes the educational sector is used to fund government vendetta, political campaigns, looted and embezzled. Normally every educated person in Nigeria should be assured of a job because they have contributed financially to the system there should be Innovations that should give back and prove the economy is moving in a cyclical process but then once money goes into the hands of the government's purse it never comes back out in forms of social amenities, jobs, innovations and means to give back from the lots they've gotten.

Education in Nigeria is not a means to get learned, it hardly even offers exposure or connections, they system is rigid, too archaic and offers no innovations for young people who are venturing into colleges to start-up and create their own brand, their businesses and further establishes the economy. The most surprising thing is when you're educated in Nigeria you're rated above someone who has skills, owns a business and even employs others. The government are not granting assistance to startup businesses who have shown promises of growing the economy, they only pump money into international trade, sectors like health, agriculture and education is dead and for a country that is so wealthy, 85% of her citizen are living in government induced poverty.


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Polytechnics of course still play second fiddle to universities despite the fact that polytechnic graduates are more vast, versatile and skillful. The problem is that there's wealth in the system to generate more wealth for the general public. Agriculture and education are the two sectors in Nigeria that would yield dividends and benefit the nation at large but there's no money being pumped into these sectors and hence it cannot provide jobs for ready and qualified money, it cannot guarantee productivity and effectiveness in providing topnotch servicing. The economy is lucrative for people who are educated outside the country as people like this will be given jobs over people who are indigenously educated in the country.

In a nutshell, the Nigerian economy kills the dreams of people who have so much to offer the system. That's is why the only two option is to either migrate to a different country or seek succour in the comfort of crypto and blockchain technology. Now the government hasn't started placing control on crypto because it's a technology they don't understand. For example educating and endorsing Crypto will mean the citizens will find a different way to create wealth and make money. Education is expensive in Nigeria and I'll rather call it a necessary venture rather than an investment choice, education should open up ways for exposure for people to be creative on how to make money but people aren't innovative enough, the government aren't innovative and we have a system where people are too dependent on the system to do everything.




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My name is @Josediccus, a young Nigerian student who is a Vlogger, A Psychologist, Poet And Sports Writer/Analyst. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers


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