Education Sector in Nigeria to 2021 — Market Size and Intelligence
The report ‘Education Sector in Nigeria to 2021 — Market Size and Intelligence’ discusses the current and forecasted market size of the Nigerian education sector. It segregates the market size on the basis of various level of education, starting from early childhood education to higher and technical education.
The report discusses the forecasted market size and year–wise growth of the sector till 2021, along with the various drivers, which will lead to this growth. It further talks about the various trends that are shaping the education sector.
The report concludes with the profiles of some of the private education companies, which are growing in Nigeria’s education sector.
Market size of Nigeria’s education sector is estimated to reach US$XX.XX billion by the end of 2016. Primary education — which spans six years and is compulsory for all — dominates the sector with XX.XX% share of the market. It is followed by junior secondary and senior secondary education, accounting for XX.XX% and XX.XX% of the market, respectively. Further, higher education accounts for XX.XX% and technical and vocational education constitutes XX.XX% of the total education market in Nigeria. The informal early childhood care development and education constitutes the remaining XX.XX% of the Nigerian education sector.
The sector is forecasted to grow at a compound annual growth rate (CAGR) of XX.XX%, and reach US$XX.XX billion by 2021. The growth will be led by various factors such as increase in population, literacy rates and job prospects, improvements in income and consumption, high government spending, and rise in internet and mobile phone usage.
The Nigerian education sector is also witnessing several trends, such as expanding higher education, increasing demand for teachers, foreign education companies entering Nigeria, and focus on mobile education and education technology.
This report has been prepared through the following comprehensive methodology:
Market size of education sector has been defined as the aggregate of tuition fee and sale of books and study material for different segments of education — namely, early childhood education, primary education, junior and senior secondary education, higher education, and technical and vocational education. Enrollment estimates from both public and private education have been taken into account.
Bases of all the figures are taken from the statistics provided by the government, ministries, as well as prominent organizations such as the World Bank, International Monetary Funds, UNESCO Institute of Statistics, World Factbook — CIA etc. The data is further validated through credible analyst reports, white papers by industry organizations, questioners and expert interviews.