The World Bank believes that over 265 million children under the age of 10 are unable to read and write. Not surprisingly, 90% of these children are in the poorer countries. Education is key if we are to eradicate poverty and break the circle of underdevelopment in poor countries.
The analysis by the World Bank states that the reasons why education is so important in a competitive world of innovation and technology. Being able to read and write is the first and basic step, the right type of education that includes management of finance and making sure that students develop the spirit of entrepreneurship is also important. The right innovative thinking minds provide the necessary breakthroughs that helps and provides the comparative advantage to companies and countries.
Some of the most advanced and newly advanced economies have the highest levels of literacy. The right type of education helps them to reduce the levels of poverty as well as increase their living standards.
Education not only help people to get better jobs or think strategically, it helps with future innovation and provide solutions to global issues. We have seen better treatments for cancer, development in technology, advancement in space exploration and so on. All of these dependent on the level of education.
We have a responsibility to educate every child so that they can look forward to a better and more prosperous future. Education should be a right rather than a privilege for the few so that we can be our neighbours’ keeper.
Douglas Kruger, the motivational speaker in his speech on how to escape poverty believes entrepreneurship training can help. We must change the way we work, live and educate ourselves as the world around us is changing. Former President Obama in his 2009 speech to graduates of the Arizona State University also emphasised the importance of education as a tool for changing lives.
The future belongs to the children, the better education they are, the more the world will benefit from them.
Dr. Ade Otukoya B.Sc, LLB, FCCA, MBA, PhD