Our research leads us to the conclusion that the average Nigerian undergraduate receives between N15,000-20,000 monthly, though half receive sums higher than this. Of those we surveyed, 77 percent save less than N10,000 monthly.
Typically, Nigerian undergraduates receive income from sources including allowances and grants from parents, relatives and friends; jobs they hold, or investments. Spending is mostly on food, clothing, phones and electronic gadgets, software (also music), books and educational materials.
Most of their purchases are made at shops or open markets within their vicinities. Almost half, 42 percent, of those we sampled say they have made online purchases in the past one year. Online purchases are carefully planned. Convenience and scarcity of particular brands are the primary reasons for buying online.
Clothing, music, phones/cameras, books/educational materials, home appliances and electronics are top on the list of items students buy online. Judged individually, the purchasing power of undergraduates is low but as a group, they are key consumers in the population.
There are now 41 federal universities, 25 state owned universities and 61 private universities in Nigeria (with the majority of universities concentrated in the south). The total student population in Nigeria stands at about 2,348,183 which is slightly lower than the total federal and states workforce (2,602,000 people are employed in the public sector at the state and federal government level.)
Some schools clearly have higher student population than others. As at 2010, the University of Lagos had a student population of almost 40,000, while that of Jos had 35,143 students. (Student population figures from states and private universities are much lower than those from federal institutions.)
(It is important to note that the student population figures quoted above comprise undergraduate, postgraduate and part time students. But on average, the undergraduate population figures of most universities in Nigeria is about 70% of the total student population)
In the general population, those in the 15-24 years age bracket are 36,141,330 (calculations 2014 are based on the last national census). The focus of this report is however restricted to the undergraduate population.
Undergraduates have their own peculiarities; they live fast paced lives and warm-up to technologies, food, entertainment that can be access “on the go.” Apart from television, the most potent meeting point between advertisers and undergraduate is the internet (and perhaps facebook).
Ninety percent of those we surveyed have accounts on the network and are active on it at least weekly, other equally important social media platforms are WhatsApp, BBM and Tweeter.
We also discovered that compared to those in the older age brackets, undergraduate buying decisions are more susceptible to the influence of celebrity endorsements. Half of those we surveyed have made buying decisions because of the recommendation of celebrities while the same proportion admitted to favouring products of companies that are sensitive to the environment.
Another interesting trend is the number of hours students have access to the internet. Our research shows that compared to the past, more students have access to the internet for longer hours. Thirty per cent of those we survey say they have access all day, mostly with hand held devices.
Only 16 percent have access for less than 2 hours daily. (However, there is a variation in teledensity across the country with the concentration in coastal states.)
About the survey
Those who took the survey were randomly selected from Nigerian universities. They are all within the 18-24 years age bracket. Several factors were put into consideration in selecting individuals who took the survey; care was taken to minimize sampling bias by making the selection process random. Analysis was done using SPSS and Microsoft Excel.
Questionnaire distribution and analysis was undertaken by researchers at BRIU, which is a consultancy within the BusinessDay Group. BRIU conducts focus group discussions, surveys, writes business plans and conducts other forms of marketing research for clients. We can be reached on [email protected]/en.
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