MBA is one of the few courses in Nigeria with the highest number of graduates, most of them being jobless. Even with the many jobs being created in all industries, MBA graduates continue languishing in misery, poverty, desperation and hopelessness.
First, this program was introduced in Nigeria to solve issues of company leadership gaps, which had existed for decades. The program, which covers human resources management, marketing, strategic management, accounting and finance, was seen as perfect for business professionals as it trains them on various leadership and strategic techniques. Over time the program has attracted hundreds of thousands of Nigerian professionals, who believe after graduation they would be offered opportunities to lead top companies in the country. But their dreams have since vanished, and here is the reason.
In Nigeria, people join college for MBA program simply to pass exams. If I am not wrong, it’s difficult for an MBA graduate to explain how his skills would turn around misfortunes of a company. It is hard for an MBA graduate to explain what he will do different once recruited as a manager to a company. This clearly explains that MBA does not fulfill its intended objective, but rather produce half-baked graduates.
In this wonderful country of ours, universities are only interested in making money and churning out graduates in droves. Their main interest is not to provide skills necessary for nation building, but skills for students to be socialites and job seekers.
Before I conclude, I would like to say something painful: currently, MBA has the highest number of jobless graduates in Nigeria, why? Because it is a useless course. Secondly, most employers don’t take MBA graduates seriously…..they know they are blank upstairs.
Finally, when you compare MBA,CFA and MSc Finance,MBA trails both. It is this reason that I advise students to enroll for CFA or MSc Finance as a substitute to MBA. By doing so they will boost their chances of being considered for employment.
Alternatively,if you must pursue MBA,do it from UK,USA,Canada or Australia,where quality is the order of the day.