University of Ilorin offers better return on investment for graduates. The Nigerian Graduate Report 2018, prepared by Stutern in partnership with budgiT and Jobberman has shown.
The report identified that a student from University of Ilorin can earn the total academic tuition fee more than 13 times in their first year of full-time paid employment.
Average annual salary for graduates from University of Ilorin according to the report is N883,922.89 while the average academic tuition for the university is N64,307.50.
Also, University of Ibadan graduates will earn an average of N1,064,510.71 average annual salary while the average academic tuition stands at N87,002.50.
Other institutions listed in the report with better return on investment for graduates includes: Federal University of Technology, Akure with an average annual salary for graduates of N 1,038,614.90 and an average academic tuition of N96,000.00.
University of Agriculture, Abeokuta with an N 917,495.75 average annual salary and average academic tuition of N108,750.00; Federal University of Technology, Minna’s graduates attracts N 1,010,994.30 average annual salary while the average academic tuition is N 124,300.00
Ahmadu Bello University, Zaria attracts average annual salary N 939,995.00 for graduates while average academic tuition is 119,700.00; University of Lagos attracts N 883,938.17 while tuition is N 115,750.00; Obafemi Awolowo University, Ile-Ife attracts N912,469.90 while N126,746.43 is the Average academic tuition.
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Nnamdi Azikiwe University, Awka with N 737,995.20 annual salary, N 135,150.00 Academic tuition and University of Nigeria, Nsukka with N 993,328.13 average annual salary and N 199,942.43 average academic tuition complete the list of top 10 universities with better return on investment offer for graduates.
Olufemi Bamiro, a professor of Mechanical Engineering told BusinessDay that managers of higher education institutions need to run programmes that are relevant to the needs of industries and to ensure such programmes provide the necessary skills to their students to facilitate their eventual employment.
He observes that the involvement of professional bodies from business and industry sector in the provision of state of the art facility will help students to be exposed to the practical aspects of their studies, and provides them with a direct contact with industry.
Timothy Olagbemiro, former vice chancellor, Bowen University, Iwo pointed out that for Nigerian universities to position itself on a platform of any relevance as it relates to return on investment for current students and graduates, it must now more than ever focus on the production of a new generation of future leaders with better perception, focused transparent, honest and hardworking.
“If Nigerian will survive in this 21st century global village, every university must key into this reality,” he said.
The Nigerian Graduates Report also show that the Federal University of Technology, Owerri, University of Benin; Yaba College of Technology, Yaba; University of Port-Harcourt; Ladoke Akintola University of Technology; Ekiti State University; Adekunle Ajasin University, Akungba; Olabisi Onabanjo University Ago-Iwoye; Lagos State University Ojo, Lagos; Babcock University, Ilishan-Remo make the top 20 universities with a good return on investment.
The report also shows that graduates are ten times more likely to get a job through their personal contacts than their academic institutions adding that chances of getting a job more than double with either social media platforms or online job sites than with traditional medium.
According to the Nigerian Graduates Report, most of the recent graduates surveyed travels to work, through the use of commercial buses (59.6 percent). The use of cars and tricycles (Keke Napep/ Maruwa) comes second and third as the most utilised channels of getting to work (10.9 percent and 8 percent). On the other end, the three least employed medium of journeying to work are ride hailing services (like Uber and Taxify), bicycles and boat at 2.6 percent, 0.32 percent and 0.06 percent respectively.
“Overall, the graduates we surveyed believed that their academic experience prepared them more for further studies (86.8 percent of respondents) than for employment (69.4 percent of respondents). Although, 69.4 percent of these graduates concluded that their education prepared them for employment, only 28.6 percentof employers believed so” the report indicated.
KELECHI EWUZIE
