If a man has 10 kids and earns $200 monthly, he will struggle compared to one that has 2 kids and earns $10,000 irrespective of his prudence or fund efficiency. Harvard University’s budget is 3x the WHOLE of Nigeria’s education budget, yet people are arguing that Nigeria’s problem is wholly mismanagement of funds. While we need to get better at managing the little we have, I want you to understand that there is a limit on efficiency. Unless Nigeria has more tax revenues, via growing private sector, the education ministry even at highest efficiency will continue to struggle. Yes, the private sector will rise before that education ministry would have a chance!
Nigeria needs business pioneers to rise before political ones can emerge because markets will fund better ecosystems of improved public sector and public governance.
1. Advance your career with Tekedia Mini-MBA (Sept 13 – Dec 6, 2021): 140 global faculty, online, self-paced, $140 (or N50,000 naira). Click and register here.
2. Click to join Tekedia Capital Syndicate and own a piece of Africa’s finest startups with a minimum of $10,000 investment.