**10. Business and education development in Nigeria**

This content is about the huge capacity of Nigeria, the African continent, especially the largest market on the African continent. It is not easy to establish a successful foundation on the African continent, but the African continent has a huge investment capacity that cannot be ignored. Especially in Nigeria, this commitment creates a test case for the African strategy of consumer goods companies. This is not only because of scale but also because of Nigerian culture that has been traded for nearly a century [30].

According to Africa's engine of growth and GDP the attached picture, the growth momentum of Africa, especially Nigeria, is much greater than that of the United States. Not surprisingly, the annual rate of change in Africa is also higher than in the rest of the world. The graph shows that after Nigeria, future investment

**Figure 1.** *Africa's engine of growth and GDP.*

*Public-Private Participation in Funding University Education in Sub-Saharan Africa… DOI: http://dx.doi.org/10.5772/intechopen.99940*

in new business opportunities may be concentrated on the African continent (**Figure 1**).

On the other hand, many problems are not solved currently in the continent with new opportunities. A shortage of electricity is one of the worst problems. Nigeria has one of the world's highest rates of road deaths and the government only recently made lessons and tests mandatory for new drivers, not the existing drivers that had brought out many casualties. Back to the shortage of electricity and other resources, these inefficient supply chains inevitably increase the cost of doing business, and another problem about getting goods to customers is not adjusted fully in the current market. The high cost of construction and land disputes have disrupted the growth of formal retailing that made the fragmented market difficult to forecast sales. Therefore, it is more obvious to increase the cost of doing business due to the dispersed customers with inefficient supply chains.

**Figure 2.** *Education budget vs total budget, 2011–2020. (Source: Nigerian Bureau of Statistics).*

**Figure 3.** *Nigeria's education budget, 2011–2020. (Source: Nigerian Bureau of Statistics).*

The Federal Ministry of Education announced the temporary closure of all schools in Nigeria, effective March 23rd, in a bid to contain the spread of the COVID-19 [31]. The Learn from Home Program designed by the Ministry in April 2020 was focused on a small percentage of public secondary students leaving millions of students in public tertiary institutions stranded for over 3 months.

Inadequate funding has been identified as one of the main hindrances to growth in Nigeria's public education sector [32]. According to Nigerian Bureau of statistics in **Figure 2**, at face value, it may appear that the education budget has relatively increased over the years; however, **Figure 3** puts it into perspective.
