Appraising Nigeria as an Untapped Higher Education Market Size, Worth Millions of Dollars For Asia-Pacific Universities

Nigeria is a country with a population of over 200 million people and an estimated 20 million students in higher education. It is also a market size worth millions of dollars for Asia-Pacific universities. As the country continues to experience economic growth and development, the demand for quality education has increased, and this presents a significant opportunity for universities in Asia-Pacific to tap into this potential market.

Nigeria is home to a large population of young people, and this is reflected in the high demand for education. The country’s educational system is dominated by public universities, but there has been a rise in the number of private universities over the years. However, despite the increase in the number of private institutions, there is still a significant gap in terms of the number of students that need to be educated, and this is where universities in Asia-Pacific come in.

The demand for education in Nigeria is driven by a few factors, one of which is the need to acquire qualifications that will help individuals’ secure high-paying jobs or start their own businesses. Many students in Nigeria desire to obtain a degree from a reputable institution, and this is where universities from Asia-Pacific come in. These institutions can offer degrees that are recognized globally and are of high quality, providing students with a competitive edge in the job market.

Another factor driving the demand for education in Nigeria is the country’s growing middle class. As more Nigerians rise out of poverty and into the middle class, education is becoming more of a priority, especially for families that value education as a means of upward social mobility. This presents an opportunity for universities in Asia-Pacific to offer courses that are tailored to the needs of this growing segment of the population.

The economic growth in Nigeria has also led to an increase in the number of students who can afford higher education. Many parents are willing to pay for their children’s education, and this has resulted in a growth in the private education sector. However, private institutions in Nigeria are often expensive, and this is where foreign universities, especially those from Asia-Pacific, can offer a more affordable alternative, with courses that are of the same quality as those offered by private institutions but at a lower cost.

The Nigerian government has also recognized the importance of education in driving economic growth and development. In recent years, the government has made efforts to improve the quality of education in the country, including investing in infrastructure and increasing funding for public institutions. This presents an opportunity for universities in Asia-Pacific to partner with Nigerian institutions to provide technical expertise and other forms of support to improve the quality of education in the country.

In conclusion, Nigeria’s growing economy, rising middle class, and growing demand for education make it a market size worth millions of dollars for universities in Asia-Pacific. By tapping into this potential market, these institutions can offer high-quality education to students in Nigeria, helping them to secure better job opportunities and contributing to the country’s overall economic growth and development.

Citations
1. “Nigeria’s Education Sector Faces Daunting Challenges, Strides towards Improvement.” African Development Bank Group. October 27, 2020. Accessed August 31, 2021. https://www.afdb.org/en/news-and-events/nigerias-education-sector-faces-daunting-challenges-strides-towards-improvement.

2. World Bank. “Nigeria Overview.” World Bank. December 18, 2020. Accessed August 31, 2021. https://www.worldbank.org/en/country/nigeria/overview.

3. “Nigeria’s Middle Class.” Africapractice. April 14, 2017. Accessed August 31, 2021. https://www.africapractice.com/insight/nigerias-middle-class/

4. “The Rise of Asia-Pacific Universities in Global Rankings.” Times Higher Education (THE). February 23, 2021. Accessed August 31, 2021. https://www.timeshighereducation.com/world-university-rankings/rise-asia-pacific-universities-global-rankings.