Ojonugwa Julius Akubo's Blog

Owing to recent trends in the Nigeria economic,educational and political sectors one is left with little conviction on what the future holds for this great nation. These strategic quagmires have brought serious worries to both the young and the old in this country. Politicians have become sycophants as they have turn politics to game and political offices to business centers. Education has become a mere activity instead of being a center for producing efficient and reputable labour for the country so what is the fate of this nations economy?

In the past people have believed that making profit was the only criterial for venturing into any form and type of business in the economic world. But as the world kept evolving Authorities like Hugo Simon, William Baumol,Oliver Williamson amongst others have being able to research and have discovered that there are actually other alternative objectives in business apart from profit maximisation few of which we shall be briefly discussing in this particular article . * SATISFICING OBJECTIVE: this was postulated by Hugo Simon. It preaches deviation from the normal objective of business in that it talks about setting down minimum target by the firm or business involved in terms of achieving minimum revenue and profit since the cost and knowledge for achieving the profit maximisation is high than the business can bear. *SALES REVENUE MAXIMIZATION: this was advocated by William Baumol it advocates the fact that sales revenue correlates better with salaries and at such is more efficient

Every year our higher institutions of learning be it private or publìc ejects thousands of graduates into the society. And the formal(public) sector and informal(private) sector as well get to retire so many people in the society yet the unemployment rate is grossly alarming. Back in the late sixtys down to the early eighties the nigerian government was more than able to efficiently employ all its unemployed citizens which it did to some extends . But as the years kept going populational status of the country arithmetically grew and the educational standard drastically depriciated either as a result of failure on the part of the educators or the people to be educated which brings us to the focal point of this article. . As a matter of fact most people in nigeria are not employed because they is no job for them, but that they lack the requirement and "back up " they need. * Requirement in that the graduate are either incompetent or too dependent. If you must become citi