The Chancellor of Ekiti State University (EKSU), Otunba Demola Alade, has said that finance graduates lack the practical skills required for careers in capital markets, calling for a curriculum overhaul to bridge the gap between academia and industry.
Speaking at the university's 2026 convocation lecture in Ado-Ekiti, Alade stressed that while theoretical knowledge is important, graduates must be equipped with hands-on experience in areas such as portfolio management, risk assessment, and financial regulation to meet the demands of employers.
Industry Demands vs. Academic Training
Alade, a seasoned investment banker, noted that many young finance professionals struggle to secure roles in capital markets because their training does not reflect the realities of the sector. He argued that universities should partner with financial institutions to provide internships and practical workshops.
"The gap between what is taught and what the market requires is too wide," Alade said. "We need to produce graduates who can hit the ground running, not those who require years of retraining."
He urged the National Universities Commission (NUC) to review the finance curriculum and incorporate modules on financial technology, data analytics, and regulatory compliance.
Call for Curriculum Reform
The Chancellor also highlighted the importance of professional certifications, such as those from the Chartered Institute of Stockbrokers (CIS) and the Securities and Exchange Commission (SEC), suggesting that students should be encouraged to pursue these alongside their degrees.
Alade praised EKSU's management for initiating reforms but stressed that more needs to be done at the national level to ensure that all finance graduates are industry-ready.
"We cannot continue to churn out graduates who are not employable," he added. "The private sector is ready to absorb them, but only if they have the right skills."
Impact on Graduates and the Economy
The lack of practical skills has been a recurring concern among Nigerian employers, with many citing it as a major reason for the high rate of graduate unemployment. According to the National Bureau of Statistics (NBS), the youth unemployment rate stood at over 42% in the first quarter of 2026.
Alade's remarks resonate with broader calls for a competency-based education system that aligns with the needs of the 21st-century economy. He concluded by urging policymakers to act swiftly, warning that the future of Nigeria's capital markets depends on the quality of its human capital.
