BEFORE YOU GRADUATE-WHAT AN UNDERGRADUATE MUST KNOW TO ESCAPE UNEMPLOYMENT AND ECONOMIC LACK
BEFORE YOU GRADUATE-WHAT AN UNDERGRADUATE MUST KNOW TO ESCAPE UNEMPLOYMENT AND ECONOMIC LACK
CHAPTER ONE
TIMES ARE CHANGING
Point
1:
The
problem of unemployment in Nigeria
The
problem of unemployment in Nigeria is fast spreading like a virus, it is
replicating so fast, the problem is growing more than ten times faster than the
government can solve it. This problem is fuelled by the very fast growing
population increase in Nigeria.
Year
in year out, the tertiary institutions which include colleges of Education,
Polytechnic, Universities and other tertiary institutions both private and
public poor out at least five hundred thousand graduating students into the
streets of despair with little or no jobs. The government of the day seem to
have no answers to this increasing problem.
Today,
at least five out of every ten Nigerian graduates have no job. And these five
that have the jobs face the constant tension and risk of losing the jobs.
Today, most employed Nigerian graduates are employed in the dying Nigerian
public institutions. From Nigerian Railway corporation to Nigeria
telecommunication and others, and the death continues. Currently, over 70% of
Nigerian youths are unemployed. Nigeria have little or no industries. The jobs
offered by the few companies available are no match for catastrophic population
level of the unemployed and jobless. It is that bad!
Today
in Nigeria, students gladly gain admission and pass through the university
without having a ground idea of the exponential increase by the day of
joblessness and unemployment among Nigerian graduates. They go through school
burn midnight candles, do several night reading, spend long hours in lecture
halls, go hungry on many occasions, some squat for many years with other
students for accommodation, face several other challenges, all with the hope to
get the golden key to wealth and riches’’ through a very good job with fat
monthly pay cheques and increasing job care and welfare benefits. As they spend
more time passing through these tough times in the school, their balloons of
hopes keep growing bigger and bigger. The lecturers, parents, aunties, uncles,
sponsors and well-wishers all help to keep pumping the air of hopes into these
balloons to keep them bigger and afloat. During these years, there is the
popular cliché which goes like this-“focus on your lectures and books every
other factor is a distraction”.
Even
as I write now in 2014, statistics have it that about 1.6 Million students
wrote the universal Tertiary Matriculation Examination (UTME). At least one
million of these students will gain admission into universities, polytechnics,
colleges of Education and other private and public tertiary institutions in
Nigeria. These students gain admission and celebrate their matriculation into
these institutions. In the end of their academic programs in these
institutions, their sponsors and well-wishers join them to celebrate on their
day of convocation. On that memorable day of convocation they are presented
with the much expected certificate. And suddenly they are for the first time after
many years within the walls of the institution released into the streets to
discover with shock that about 20 million graduates are just like them with
good grades on the streets searching for jobs for many years.
Another
big problem to the side of this discussion is that more than 70% Nigerian
undergraduates today do not have the fundamental and convinced understanding of
the state of unemployment in Nigeria. Probably, the reason for this is so that
they can focus on their studies, focus, get the good grades and then come out
to join the queue. The inability of both the Nigerian government and the
Nigerian society to educate undergraduates on the high level of joblessness in
Nigeria creates another problem that fuels the existing crisis of unemployment,
and that problem is ignorance.
In
addition to this problem of ignorance is the poor levels of financial education
and the drive for entrepreneurism.
In
the country. The government at all levels keep preaching of entrepreneurism but
do little or nothing about it. For instance, government would rather spend
millions of dollars on NYSC rather than train graduates on the entrepreneurship
and financial education and provide soft loans without collateral as a start-up
capital. Nigerian government would rather pay N19, 000 minimum wage to NYSC
members and convert most of t hem part-time primary and secondary school
teachers rather than pass them through technical skills and real human capital
development programs, plus give them start-up capital for business start-ups,
knowing fully that they-the government have little or no jobs to offer the
graduating corp members. They would only give the NYSC members days or few
weeks of theoretical lectures with little or no practical side just like the
normal boring classroom lectures. This is too bad!
Albert
Einstein one of the greatest scientists and philosophers of the twentieth
century said that one way to define insanity is doing the same thing over and
over again and expecting a different result. He also said that you do not solve
a problem using the same method you used in creating the problem. For decades
now, there have been this recycling lie that University Certificate or Tertiary
Certificate is the golden key to open the doors that will solve financial
problems. And this have led to an exploding number of those who want to go to
school (Tertiary Institutions). The problem is that the government and the
society, starting from nuclear and extended families have succeeded in
sustaining this lie for a lone time. They use the few illustrations of those
who graduate and get big jobs to inspire others to shut down their creativity
for alternatives to financial prosperity and focus on one thing only, the
paper, and certificate. Today, as we now have millions of jobless graduates,
the lie is being exposed and has nowhere to hide.
Financial
education that is very much lacking in the Nigerian system which is a
fundamental cause of increasing the poverty in the system do not just have to
do with monthly pay cheques but with understanding the nature of money and how
it works and how to create it.
Point
2:
This
book is not the usual one
This
book is not the usual get rich quick book. This book is a mentor and eye opener
to serve as a guiding tool to help you jump out of the crowd and make a bold
step to gaining financial freedom for years in Nigeria.
If
you are an undergraduate reading this book, then know one thing, this book
could be an answered prayer for your future. If you have already graduated,
this book could help you avoid wrong decisions and steps, and if you are yet to
gain admission into any tertiary institution, you need this book as a road map
also.
I
tell you, one very important question that a graduate or yet-to-be graduate
must answer is this, ‘’WHAT DO YOU DO FOR A LIVING?’’ it is wise for an
undergraduate or graduate to answer this question practically before graduating
day, and after graduation. Financial freedom is a good purpose worth working
towards.
Point
3:
Employees
teaching people to become entrepreneurs
The
federal government of Nigeria have seen the increasing problem and effects of
unemployment and introduced entrepreneurship studies as a compulsory course in
all tertiary institutions. The federal Governments step of introducing
entrepreneurship studies in all Nigeria tertiary institutions shows its
consciousness of the potential problems of unemployment. But this idea of
teaching entrepreneurship studies in tertiary institutions does not seem to be
a potent solution.
Employing
lectures most of whom have no practical clue and experience of entrepreneurship
is like employing an active military general who has grown and lived in the
barracks for most of his years to lecture people on how to become civilians.
These
entrepreneurship teaching lectures in Nigeria tertiary institutions will only
write theories of entrepreneurship on the board for students to copy, take to
their lodges or hostels, read and prepare for entrepreneurship examinations.
Those who fail the course will either rewrite the course or ‘’sort it’’, and
the journey continues.
CHAPTER TWO
BEFORE YOU GRADUATE
Point
1:
The
basic expectations after graduation
It
is expected that a graduate have these basic amenities and needs after
graduation. They include a good and comfortable accommodation, good health
care, good clothing, a good car, assured health care allowance, and assured
balanced daily three square meals. In continuation, it is expected that the
graduate have a growing financial savings which could be invested into
profitable and well-meaning ventures,assets or businesses. Basic amenities are
becoming increasingly necessary in a 21st century urban
Nigeria. But the attainment of this basic expectation of social amenities and
care by an average Nigerian graduate over the years have been very far from
reality.
Point
2:
After
School days
Many
Nigerian graduates after graduation are on their own. Their parents bear the
financial burden of training them in school for years with the expectation of a
good job or something good that brings in income after they graduate so that
they will in turn take care of them (the parents) especially during old age.
The brutal truth is this, most of these Nigerian parents after training these
students in school came to realize that they too are on their own.
Once
the students graduate, the monthly allowance from parents no longer come, they
no longer stay in hostel bunks or lodges, or share a room with friends in
accommodation around the campus environment. Suddenly, they are greeted with
harsh realities of the outside school world. Now, no more allowance, and they
must move on or become static.
Most
of these graduates run back to their parent’s home and stay there, under the
umbrella of their parents, the umbrella of food, accommodation, health care,
clothing and transportation. There are hundreds of thousands of homes in
Nigeria today with graduates living under the parental umbrella and searching
for the few available jobs that are crowded with unconventionally aggressive
competition.
In
2014, the Nigeria immigration service conducted job screening tests at selected
centres in Nigeria. So many people died in stampedes in these centres. It is
estimated that over 6 million Nigerians applied for the test both online and
offline. I guess the rest over 14 million unemployed graduates refused to apply
because they know that there is an infinitesimal chance for job in a highly
politicised system where merit is brazenly played down, and more especially
when the job spaces are far less than 10,000. Do the maths, 6 million people
going for 10,000 jobs. That is 6 million ratio 10,000. Put differently, 6
million Nigerians were chasing after 10,000 “available” jobs. I say “available”
(on quote) because these jobs have already been taken even before the adverts
were made. It was a national news, so many people died in the stampede that
happened in the various centres for the screening test.
The
practice in Nigeria is that the big shots in the system send in their lists
(must get the job candidates). The personal directors of the service commission
will have to place the people in these lists in the job spaces first. In most
cases, the number on the special people list’’ becomes more than the available job
spaces. Then if that be the case, what becomes the chance of those who are not
on the special lists? Your guess is as good as mine. This why I said people
died on that day of stampedes for jobs that didn’t even exist.
In
my view this is a communal act performed in the full glare of those who we call
‘’ Leaders’’- oga at the top.
So,
you see, even the government institutions of the day in Nigeria will even try
to make a living out of unemployed graduates all in the name of giving them
employment that don’t exist. The over 6 million people in the aptitude test
paid for the test. Do your math. If a person paid N1000, it means another
revenue in billions have been generate from the pockets of people who do not
have streaming straight into the pockets of the fat cats who are supposed to be
the provider of jobs and mentors). I think this is another way of being told by
the government that you are on your own.
THE
COMPONENTS OF THE BOOK (BEFORE YOU GRADUATE-WHAT AN UNDERGRADUATE MUST KNOW TO
ESCAPE UNEMPLOYMENT AND ECONOMIC LACK)
CHAPTER ONE
TIMES ARE
CHANGING
Point 1:
The problem of unemployment in Nigeria
Point 2:
This book is not the usual one
Point 3:
Employees teaching people to become entrepreneurs
CHAPTER TWO
BEFORE YOU GRADUATE
Point 1:
The basic expectations after graduation
CHAPTER THREE
THE WAY FORWARD
Point 1:
Skills are not enough
Point 2:
People want to learn skills but not business
CHAPTER FOUR
HOW TO TAKE BUSINESS RISKS THAT WILL
NOT LAND YOU IN TROUBLE
Point 1:
Margin of safety
CHAPTER FIVE
HOW TO START A BUSINESS
Point 1:
You do not need capital to start a
business
Point 2:
How to find a good business
opportunity
CHAPTER SIX
THE DETERMINANT OF BUSINESS SUCCESS
Point 1:
Character and confidence determines
business success
Point 2:
Your network determines your net
worth
Point 3:
Brainstorming and imagination are
better than knowledge
CHAPTER SEVEN
YOU CANNOT LEARN TO MAKE MONEY IN THE
CLASSROOM
Point 1:
What Nigerian schools will not teach
you
Point 2:
First class at one thing, zeroth
class at many things
Point 3:
First class at one
thing, zeroth class at many things -part 2
CHAPTER EIGHT
HOW MONEY IS MADE
Point 1:
Learn to derive your money
Point 2:
The four components of a human
CHAPTER NINE
HOW TO MULTIPLY AND
KEEP MONEY
Point 1:
Investment fundamentals
Point 2:
Cash flow mentality
Point 3:
The difference between riches and
wealth
Point 4:
You must learn to sell
CHAPTER TEN
WE ARE NO LONGER IN THE INDUSTRIAL
AGE
Point 1:
Industrial age mentality died and
lost its foothold in 1991
Point 2:
The different states of money
Point 3:
The government Nigerians blame also
need help
CHAPTER ELEVEN
LEARN TO BUILD A BUSINESS SYSTEM
Point 1:
A business should be systemised
CHAPTER TWELVE
LEARN TO EXPAND YOUR BUSINESS
Point 1:
Expanding your business
CHAPTER THIRTEEN
GOD’S GRACE IS THE GREATEST FACTOR IN
BUSINESS
HOW TO GET THE COMPLETE BOOK
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