BY AYO EMAKHIOMHE
In
a recent survey, it was noted that seventy (70%) percent of the Nigerian
economy was illiterate. The results of the last census showed that well over
fifty (50%) percent of the population was the working class group (ages 18-50);
they help define the future of an economy.
Based
on the above statistics, one can deduce that seventy percent of the working
class is illiterate.
Illiteracy
is an all encompassing variable that spreads into social illiteracy,
educational illiteracy, cultural illiteracy and financial illiteracy.
Social literacy is the knowledge of proper group
and public behavior including respect for fellow man and his privacy and proper
use and maintenance of public infrastructures like public buildings, public
toilets, bridges, hospitals, schools, the awareness of and the act of public
duties like payment of taxes and corporate governance.
Educational literacy is what we get from the four walls
of our schools from primary to tertiary levels; be it formal or informal.
Cultural literacy is knowledge of the ancients and
juxtaposed with current trends. It includes a knowledge of the cultures and
beliefs of our ancestors and history, what is the proper values and norms to
have, a knowledge of the need to love, preserve and respect our national
monuments like the national flag and what it represents, historical sites,
language and the reason to be proud of all these.
Financial literacy on the other hand is knowledge of
the importance of money, how to get it, secure it, save it, value it, share it,
protect it, enjoy it, and pass it on to the next generations; and this is one
key area that there seems to be almost none or very little level of literacy of
the subject matter in this side of the global hemisphere.
That
means that there is a wide gap between the literacy levels in NIGERIA.
In
the United States of America, it has been noted that small/medium scale
industries (SME) form sixty (60%) percent of the economy, and that for any
economy of any nation to grow and become a first class economy, this ratio of
SME’s to full-fledged companies has to hold.
Meanwhile
the Nigerian educational system does not contribute to the economy in this
regard. We are trained to “go to school, get good grades so that we can get
good paying jobs” (which are scarce in supply even with the good grades).
So
the solution is not moving from pillar to post with resume’s, worn shoes and
weather beaten faces getting frustrated with various ‘no vacancy’ signs; the
solution is to empower oneself to become an employer of labour.
But
to achieve this, a strong level of business/financial literacy is highly needed
coupled with financial support/leverage as most times, entrepreneurs will not
even have collateral to get loans to finance their ventures, and those that
have the collateral or the funds do not have the business/management prowess to
effectively and successfully run their ventures.
This
situation is not pertinent to Nigeria alone, but at different levels and in
varying degrees, this situation holds in most countries of our world today.
Therefore,
in our little way, we at Coinbox limited have decided to contribute our quota
to society by filling this gap of poor business/entrepreneurial and investment
knowledge.
We
are all about you; the entrepreneur/business owner/investor. We support you
from the ‘idea’ to public quotation and beyond.
Join us today!
coinboxlimited@gmail.com
+2348023526682
Ayo Emakhiomhe is the MD/CEO of Coinbox Limited
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