Why Moniepoint’s CEO is only half right: The brutal truth about Nigeria’s “unemployable” graduates 

SUMMARY

• A major disconnect exists between theoretical university degrees and the practical digital skills (Excel, Coding, PM) required by 2026 employers.

• While local CEOs complain about a lack of talent, foreign startups are successfully hiring and training "raw" Nigerian graduates for seven-figure roles.

• Brain drain ("Japa"), unlivable wages (₦150k-₦200k), and high costs of hardware/data prevent many smart graduates from becoming "employable".

• Toxic environments and "easy money" lures (fraud/social media) are driving talent away from traditional 9-to-5 roles.

In May 2026, Tosin Eniolorunda, the CEO of Moniepoint, shared a frustrating reality at The Platform in Lagos  that sent shockwaves through Nigerian LinkedIn and X (formerly Twitter)

He revealed that his company had 500 open jobs that they simply couldn't fill. He argued that many Nigerian youths are "unemployable", citing a lack of global skills and a "get-rich-quick" culture fuelled by social media.

Whether or not, indeed, his company couldn’t find the right candidates for 500 open roles out of a population of 242.4 million people, his viral comments highlighted a massive problem. 

If millions are looking for work, why are hundreds of high-paying desks sitting empty? The easiest answer that has always rolled off the tongues of the Nigerian bourgeoisie is “laziness” 

But is it just laziness or a messy mix of a broken system and a changing world? Sit with me as I highlight a plethora of interesting problems.

Watch Tosin Eniolorunda, the CEO of Moniepoint, speak on the 'unemployability' of Nigerian youths below.

The biggest hurdle is that a Nigerian degree doesn't always mean you can do the work. 

An average Computer Science graduate from a low-tier university who spent four years cramming theories without any real practical guidance is useless in the job market. 

Our universities often focus on theory and "cramming" to pass exams, while the modern world needs people who can use Excel, manage projects, write code and employ digital and technical skills.

According to News Central TV, youth unemployment is sky-high, yet employers frequently complain about "half-baked" graduates. 

As Eniolorunda pointed out, having a Master’s degree is great, but if you can’t navigate a basic digital workspace, you’re stuck.

We often hear mostly about the brain drain in the medical sector, but it affects every facet of the Nigerian workforce. 

The people who do have these "global standard" skills are leaving. 

This "Brain Drain" means that as soon as a Nigerian becomes highly skilled, they often export their skills to a more favourable region abroad where they are paid and appreciated better. 

This has created a massive Seniority Gap. Local companies are left with a pool of entry-level graduates who need heavy mentorship, but the seniors who should be mentoring them have moved to the U.S or London. 

As noted in BusinessDay’s analysis of the talent war, Nigerian firms are now fighting over a shrinking pool of top-tier talent, leaving the average graduate behind.

You can’t talk about "unemployable" youths without talking about "unlivable" wages. 

In 2026, with the cost of food and transport hitting record highs, a starting salary of ₦150,000 to ₦200,000 for a high-skill role is often seen as an insult and barely enough to survive on. 

When the pay is low, the best talent either works for foreign companies remotely for US/UK firms or looks for "other" ways to make money.

This is currently circulated on X (formerly Twitter) as what Moniepoint itself offers for a Quality Assurance role. 

The rise of Internet Fraud (Yahoo-Yahoo) and the "Hook-up" culture mentioned by the Moniepoint CEO are symptoms of a deeper problem: Poverty.

Let's be honest: why work 12 hours a day in a toxic office for peanuts when you can see peers making millions on social media or through "Yahoo-Yahoo" (fraud)?

The lure of "easy money" has distracted many from the long, boring process of building a career. When the "hustle" pays more than the "job", the job loses every time.

Toxic workplace cultures characterised by 12-hour workdays and a lack of respect for work-life balance further drive graduates away from traditional employment toward the gig economy.

Aside from the above-mentioned issues, emotional and financial abuse is the order of the day at many workplaces in Nigeria, where 'subordinate' is synonymous with 'slave'. Take the tweet below, for instance:

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Becoming "employable" costs money. To learn any tech or finance skill at a global standard, a graduate needs the following:

• A high-end laptop (costing upwards of ₦1.5 million).

• Constant electricity (in a country with frequent grid collapses).

• Expensive data subscriptions.

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The fee for standard tech schools is no small feat either. For instance, to register for Alt School Africa, you must pay a $20 non-refundable application fee. Tuition for 2026 is approximately $290 (upfront), or payable in instalments (~$30–$80 depending on the plan).

For a graduate from a low-income home, these are luxury items and ventures. Many people aren't "unskilled" by choice; they simply can't afford the tools to learn.

You cannot be "employable" in a tech-driven world if you can't afford the hardware to learn.

While CEOs complain about "unemployable" youths, they ignore their sheer hypocrisy. Nigerian employers have abandoned the culture of training. 

Most companies aren't looking for potential. They want entry-level staff to arrive on Day 1 with five years of experience, a mastery of complex tools, and a global mindset, all without the company having to invest a single kobo in their development. 

Foreign companies, on the other hand, are often more willing to bet on Nigerian talent than local ones. 

One professional noted: "A year ago, a US startup hired me with zero tech experience. I was WFH in Nigeria, earning a seven-figure salary while learning on the job."

If a startup thousands of miles away can groom a Nigerian graduate, why can’t our billion-dollar local fintechs do the same?

In all, fixing the "unemployable" tag isn't just about graduates studying harder.

Companies must pay better, the government must fix schools, and employers must invest in people rather than just complain about them.

Everyone must collaborate!

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