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The Nexus between Academic Research and Development: The Importance of Doctoral Degree in National Development in Nigeria

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By Onobe Melchizedec , PhD & Elele Felix Chibuzo

In today’s knowledge-based economy, where knowledge, research, and innovation are essential for competitiveness and wealth generation, developing countries require knowledge workers with doctoral degrees to generate understanding for advancing society and the economy.

People with the skills, knowledge, and expertise necessary to propel innovation and build a dynamic workforce are essential to the prosperity of any nation. Therefore, graduates with a Doctor of Philosophy (PhD) degree are an invaluable resource for contributing to the growth and development of a country. The objective of enhancing the contributions that PhD graduates make to national development is also a global concern.

The Doctor of Philosophy (PhD) is the highest mark of academic excellence, and holders are revered in society as embodiments of knowledge. It confers to the holder the highest level of competence in a field of study.

Acquiring a PhD degree in any field of study sets one apart and makes the person a specialist and, by extension, someone that could be consulted on that field. This scholarly endeavour is celebrated on completion by wearing a graduation regalia adorned with features that signify excellence and honour.

As a PhD candidate, one is expected to conduct supervised, structured research in one of the many related disciplines in which the Faculty has expertise. After this period, the candidate is expected to produce a lengthy thesis demonstrating their ability to conduct scholarly research. The results of this research should make “an original contribution to the body of knowledge” and meet publication standards.

History shows that the first doctoral degree was awarded in medieval Paris around 1150. In 1860, the University of London introduced the DSc as an advanced study course rather than a research degree. Therefore, the first higher doctorate in the modern sense in the UK was by Durham University in 1882, and other universities followed suit.

Yale University was the first University in the United States to award a PhD in 1861, and the first three earned PhDs in North America. In Nigeria, the University of Ibadan was the first Nigerian University to award a PhD in 1964. Accordingly, many Nigerian Universities now offer doctorates in many diverse fields of study.

Data from the second quarter of 2020 report of the National Bureau of Statistics indicates that Nigeria has over 76,526 PhD holders and more than 20,000 doctoral candidates. Prof Tunji Olaopa, in an article published in the Punch newspaper on 8 May 2022, stated that with the absence of current and valuable data, the number of Nigerian PhD holders as of 2022 could conservatively be estimated to be around 85,000.

Pursuing a PhD degree is not only arduous but also time-consuming and demanding; the candidate must dedicate at least three years of academic study and research work.

The candidate must have passed preliminary qualifying exams to exhibit their theoretical knowledge and competencies in the chosen field of study. The person will also complete a complex process of developing a research proposal, creating a research plan, carrying out research in the area and presenting the results of that research to other experts in the field who would evaluate the work and approve that it meets the highest standards of the academic world.

A doctorate aims to produce professionals with the expertise to conduct research and scholarship to advance knowledge and contribute to international, national, state, and local scholarship and development. PhD recipients are equipped with critical thinking skills, scientific research and theorising abilities, high intellectual integrity, a multidisciplinary approach to problem-solving and professional competence through lifelong learning, self-evaluation, and self-renewal.

Beyond academic endeavours, the thrust of doctorate research, which is an ingenious contribution to the body of knowledge, should benefit society and contribute to the development of science, engineering, social science and humanities. It should not only be an academic exercise aimed at churning out lecturers for our higher institutions but development-oriented. Research conducted by these PhD studies should form the fulcrum of innovation and the socioeconomic development of society.

Higher academic pursuit up to a PhD degree provides a skilled workforce for specialised knowledge. Doctoral studies typically include training in methodology and research analysis, and obtaining a PhD indicates to potential employers that holders have the analytical skills necessary to conduct rigorous research. Accordingly, employers outside of academia seek individuals with solid research skills to carry out projects at private and public think tanks and research institutes worldwide.

On the micro level, it confers financial and non-financial benefits to the holder. Financial gain is one of the many reasons students pursue a doctorate. Moreover, research indicates that self-satisfaction, self-motivation, and intrinsic motivation are other factors for pursuing and completing a doctoral degree. Acquiring a PhD is essential for employment, career opportunities and progression in the academic ladder.

Historically, a PhD was required to commence a career in academia, and this has not changed, as they are still generally required for academic positions at universities worldwide. A doctorate creates international job teaching/lecturing opportunities and collaborations for holders. Globally, there is continued viability for PhDs in academia.

Socially, the PhD is a symbol of prestige and adds to the social status of the holder, having demonstrated exceptional ability and being regarded as a member of the intellectual elite. In the early sixties and until the late seventies in Nigeria, communities contributed money to sponsor one of their sons or daughters to study for a PhD. It was seen as a communal achievement and status symbol that a community had produced a doctor, as it were.

In research and development, the University is the centre of study and pivotal to new inventions and discoveries in the World. PhD scholars drive most of the research hubs and centres of excellence.

The Government and private sector spend huge budgets on research and development, and PhD students receive grants to research innovations that are valuable to human development. Moreover, doctoral programs provide intensive training in research methods, and the skills acquired in qualitative and quantitative research methodology and statistical analysis are transferable to non-academic research environments, especially industrial research.

In career development, a doctorate increases one’s earning potential compared to other educational levels in universities and research institutes. Those with a doctorate can also anticipate higher compensation inside and outside academia. Doctorate holders in Nigerian universities and higher institutions can only occupy certain positions and posts.

To underscore the importance of the PhD to academic development and knowledge transfer, the National Universities Commission (NUC) and other regulatory professional bodies require a minimum number of doctorate holders as faculty before accreditation for a course is given.

In the body of knowledge, a PhD thesis may also serve as the foundation for a book that, when published, will become part of the scholar’s professional career and scholarly documentation. A doctoral dissertation contributes to the body of human knowledge.

In addition, the results, conclusions, and recommendations invariably contribute to economic and social advancement. In addition, the thought content paves the way for new research avenues and promotes an interdisciplinary approach, which will strengthen the social fabric of lifestyles.

Interestingly, in Nigeria, little is known about the employment of PhD recipients outside the academia after receiving their degrees. There appears to be a void regarding the direct impacts of PhD graduates in the workplace outside the academic environment. Moreover, the research capacity of many employed PhDs has not been maximised.

There are disparities between the purpose of doctoral education and the employment of Nigerian PhD graduates, as some are employed in positions unrelated to their fields of study. People now doubt the knowledge and abilities of this group of highly educated Nigerian graduates, and there is a need for a paradigm shift.

It has become pertinent to re-evaluate the curriculum and content of doctoral studies in Nigeria. Nigeria’s doctoral education should be tailored to play a crucial role in nurturing economic growth. It should be viewed as an investment in human capital, the cost of which is anticipated to yield returns and generate significant benefits in the form of increased opportunities, productivity, employment conditions, and incomes.

Amid our underdevelopment in critical sectors, doctoral education should be a pathway for nurturing independent researchers who can produce and disseminate new knowledge, solve real problems, and contribute to innovation through ground-breaking research, publishing, and forging a competitive edge that fuels national development.

Nigerians expect our doctoral graduates to make significant contributions to the creation of new knowledge, the development of life-saving medical interventions, undergraduate education, and the shaping of social programmes and policies. Our PhD should adapt to the demands of the 21st century for a degree that fosters the development of personal and professional skills to support all critical sectors and promote human development indices.

As society continues to evolve and the universe faces new challenges, the need for acquiring more specialised knowledge will continue to increase hence the need for more doctorate holders.

The training of future graduates, national development and knowledge transfer depends on the quality and quantity of PhD graduates. Nigeria, with a population of over 200 million people and 170 Universities in 2023 (79 private, 43 federal, and 48 state universities) and numerous applications for licencing of new universities, the requirement and demand for more doctorate holders will keep soaring.

However, there is the need to ensure that the curriculum adds value and that the quality of graduates meets international best practices and those conferred with the degree reason philosophically.

Both wrote from Bingham University, Karu, Nasarawa State


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EFCC Says Corrupt Politicians are Using Crypto Wallets to Launder Money

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Ola Olukoyede, chairman, Economic and Financial Crimes Commission (EFCC), has raised the alarm that some corrupt Nigerian politicians are now hiding their illicit wealth in cryptocurrencies to evade scrutiny and detection by anti-graft agencies.

EFCC Says Corrupt Politicians are Using Crypto Wallets to Launder Money

Ola Olukoyede, chairman, EFCC

The EFCC boss said the agency had uncovered a growing trend where fraudulent public officials now used cryptocurrency wallets to stash stolen public funds and conduct illicit transactions.

Olukoyede made the revelation at  an event commemorating Africa Anti-Corruption Day.

The event was held simultaneously in Abuja, Lagos and Ibadan, Oyo State.

Other speakers at the event lamented that Nigerians usually fell victim to crypto fraud, including the recent CBEX scam, where Nigerians lost over N1.3tn.

Olukoyede said, “Virtual asset fraud is on the rise. Our findings show that fraudulent politicians are already perfecting schemes and hiding their loot in cryptocurrencies to beat the investigative blackness of anti-corruption agencies.

“Stolen funds and unexplained wealth are being warehoused in wallets and payment for services are being done through this window,” he said.

Olukoyede warned that while the rise of virtual assets had transformed financial transactions globally, it had also created new avenues for money laundering and financial crimes.

He said, “Technology is moving at a supersonic speed around the world.

“The advent of virtual assets is a response to one of the qualities of money as a store of value like it is known in our elementary economies.”

“However, as with every progressive innovation, fraud starts to usually evolve, evolve ways of perverting their genuine purposes,” he said.

He added that the EFCC was not helpless in the face of the sophisticated schemes, noting that proactive training and intelligence sharing had enabled the commission to identify and investigate such cases.


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Airtel Nigeria Drives BFSI and Utility Sector Innovation with Industry-wide Workshop

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L-r: Oladeji Ilesanmi, Head, Enterprise Sales, Airtel Africa; Abhishek Biswal, Chief Business Officer, Digital Services, Airtel India; Dinesh Balsingh, Chief Executive Officer/Managing Director, Airtel Nigeria; Ogo Ofomata, Airtel Business Director, Airtel Nigeria; and Luc Serviant, Enterprise Business Director, Airtel Africa, during the first day of the two-day workshop, themed “Powering Financial Services with Connectivity”, hosted by Airtel Business for the benefit of the Banking, Financial Services & Insurance (BFSI) sector in Lagos this week.
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Airtel Nigeria, telecommunications and digital solutions provider, has reemphasised its commitment to national development with a two-day workshop for companies in Nigeria’s Banking, Financial Services & Insurance (BFSI) and utility sectors.

Held from July 8 to 9, 2025 at the Lagos Continental, the exclusive event brought together C-suite executives and industry thought leaders to co-create transformative and tech-driven solutions for these critical industries.

Themed “Banking on Innovation: Powering Financial Services with Connectivity” on 1 and “Accelerating Nigeria’s Digital Leap: Smarter Networks, Smarter Business” on Day 2, the sessions were designed to identify critical pain points, unlock business potential, and drive smarter, more connected operations across two of the nation’s most essential sectors.

Delivering the keynote address, Dinesh Balsingh, Managing Director/CEO of Airtel Nigeria, reaffirmed Airtel’s dedication to enabling and driving Nigeria’s digital transformation across the finance and energy sectors.

Speaking on the timeliness of the workshop, Airtel Nigeria’s Managing Director and Chief Executive Officer, Dinesh Balsingh said, “From power and water to finance, transportation, and logistics, this is a defining moment for every sector. The real question isn’t whether to adopt digital solutions, but how quickly and intelligently we can do so. At Airtel Nigeria, we’re moving beyond basic connectivity and becoming a true digital partner to the industries we serve.”

He highlighted Airtel’s categories of enterprise solutions that has been created to improve quality of life. These groupings include Internet of Things (IoT) for such services as smart metering, leak detection, energy optimisation, and real-time asset tracking; Communications Platform as a Service (CPaaS), which enables secure, multi-channel customer engagement via SMS, WhatsApp, Voice, and USSD; as well asl Network as a Service (NaaS), which delivers flexible, secure connectivity with cloud-ready agility.

Mr. Balsingh added that, “Nigeria’s power and energy industries are under growing pressure to modernise. Legacy infrastructure, fragmented systems, and lack of real-time visibility are major obstacles. Airtel is stepping in with the right tools, not just to connect, but to transform. With IoT, CPaaS, and NaaS, we’re laying the groundwork for smarter operations, improved service delivery, and better outcomes for businesses and consumers alike.”

Abhishek Biswal, Chief Business Officer, Digital Services at Airtel India, brought substantial insight to the discourse with a demonstration of Airtel’s IoT Hub and its transformative impact on energy distribution.

Biswal said, “The future of finance and energy is digital, and that future must be secure, scalable, and seamless. When financial players and utility providers partner with telcos like Airtel, we’re not just connecting systems; we’re building a smarter digital ecosystem for everyone.”

Reinforcing the CEO’s position, Ogo Ofomata, Director, Airtel Business, called for collaboration among the participating sector and their stakeholders.

“We don’t take lightly the trust you have put in us. Airtel operates in what we call the enabler industry. Sometimes we don’t even know there’s a problem until we come together like this. This workshop is about understanding your needs and working side by side to design solutions that truly fit,” she said.

In his remarks, Luc Serviant, Group Enterprise Business Director at Airtel Africa, highlighted the company’s role in driving digital transformation through sustained investments in 5G and LEO satellite connectivity, aimed at boosting remote operations and expanding access in underserved regions across the finance and energy sectors.

He said, “At Airtel, we understand that the future of is going digital, and reliable connectivity is the backbone of that future. From 5G to LEO satellite integration, we are investing in intelligent infrastructure that empowers service providers to operate more efficiently, respond in real-time, and deliver uninterrupted services to millions of Nigerians. This isn’t just about innovation; it’s about building the digital foundation that will power the nation’s next chapter.”

This workshop, which continues the series of sectoral engagements within Nigeria’s growing economy, concluded with feedback from stakeholders who called for the inclusion of regulatory bodies such as the Nigerian Communications Commission (NCC) in future editions.

 


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AfCFTA Credit Fund Makes First Investment With $10m Loan

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The Credit Fund of the AfCFTA Adjustment Fund has successfully closed its first investment, committing $10 million to Telecel Global Services Ltd, through a senior secured amortising loan.

The transaction marks a significant milestone in the operationalisation of the Fund. The Credit Fund is one of three Funds under the AfCFTA Adjustment Fund, established by the AfCFTA Secretariat and African Export-Import Bank (Afreximbank) to provide targeted transitional support to AfCFTA State Parties and private sector entities as they adjust to the requirements and opportunities presented by the AfCFTA Agreement.

Telecel Global Services, a subsidiary of the Mauritius based Telecel Group, provides wholesale voice and SMS services and enterprise connectivity solutions to more than 250 telecoms operators across Africa and globally.

With digital connectivity being at the heart of the trade and economic integration and success of the AfCFTA, this facility will support Telecel’s expansion in Ghana and Liberia, strengthen its infrastructure, and contribute to bridging Africa’s digital divide through enhanced connectivity and digital inclusion.

By investing in digital infrastructure in underserved markets, the Fund is helping reduce trade barriers, foster cross-boarder productivity and accelerate inclusive industrialization. Mr. Jean-Louis Ekra, Chairman of the Board of the AfCFTA Adjustment Fund Corporation, stated: “

The closing of our first deal marks a historic milestone for the Credit Fund and the broader vision of the AfCFTA.

This US$10 million investment in Telecel Global Services is a clear demonstration of how targeted capital can drive meaningful impact—accelerating digital connectivity, enabling intraAfrican trade, and supporting private sector-led development in priority sectors.

It is our commitment to ensure that such investments continue to bridge critical gaps, stimulate economic resilience, and unlock Africa’s vast potential.”

H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat, noted: “This transaction demonstrates how the AfCFTA Adjustment Fund is beginning to serve its intended purpose – supporting State Parties and the private sector as we work to make this Agreement commercially meaningful.

By investing in digital infrastructure, we are addressing some of the most critical enablers of trade facilitation, industrialisation, and regional value chain development.”

Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, added: “Today, we make another bold statement of our unwavering intent to ensure that Africans reap the benefits of the African Continental Free Trade Agreement.

We are proud to have commenced the operationalisation of the Credit Fund. With this Fund, we will provide vital support to African corporates, helping them retool and expand their operations necessary to capitalise on the AfCFTA opportunities.

The investment strengthens a critical enabler, the digital economy and regional connectivity, while reinforcing our long-term commitment to transforming the structure of the African economy.”

Marlene Ngoyi, CEO, FEDA, the Fund Manager of the AfCFTA Adjustment Fund, said: “This investment exemplifies the strategic intent of the Credit Fund – to catalyse growth and resilience in sectors that are vital for Africa’s structural transformation.

We are proud to partner with Telecel, whose operations directly advance intra-African connectivity and digital trade.”

The Credit Fund will continue to prioritise commercially viable investments that enable trade, support diversification, and promote inclusive growth in line with the broader AfCFTA implementation agenda.


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