9icest: The Economist did a story on Phd about a year ago...
http://www.economist.com/economist-asks/doing_phd_waste_time
They proved its a clear waste of time in our current global economy....
Besides the fact you have to please all those sadist professors who dont want you to have the Phd, its there are many companies out their searching for a PhD holder.

Get inspired, visit
www.inspired.com.ng
for your daily inspirational dose!

Without PhD holders, science, engineering, medicine and other fields of human endeavor - will not advance to the level it has reached today. Fact.

PhD researchers are responsible for most progress in things you take for granted around you: from your big-azz flat screen TV at home, to you touch-screen phones, to the latest pain-killers in your pharmacy, to automated parking of latest car models. They found cures to countless diseases including the forthcoming vaccine for malaria; they have invented things like MRI scanners and Graphene (google it); and you can be damn sure that PhD holders will come up with a vaccine for HIV/AIDS. And if anyone will decode cancer and prevent/cure it, it will be some 'obscure' PhD researcher or academic toiling away somewhere right now as we speak.

Go ahead and believe the Economics, after all they have been so-right about global economics and they could forsee and prevent the credit crash, abi? I am sure that the heediots who did the study in Economist ONLY looked at the financial aspects of life. Yet when these morons are suddenly diagnosed with Cancer or Alzheimer, they would be praying endlessly that some researcher has come up with a better treatment or cure.

Mtcheeew.

Now, why do companies still search for PhD holders? Let me enlighten your misguided soul in three simple steps (analogies) of an organisation like say, a Bank:

(1) If a Bank wants someone to work on the basic day-to-day stuff, i.e. implementing directives from top hierarchy (e.g. dishing money to customers in the Banking hall) - they would hire a Bachelor degree (BSc) holder.

(2) When they want someone to manage the operations of the bank and deal with corporate customers, taxes and credits - they would hire someone who has 'Mastered' banking (i.e. an MSc holder).

(3) Now if they want someone who will develop a risk model that will allow the bank to make fact-based global investments and diversification of portfolio in the middle of a credit crunch and low-interest rates ... they would get a PhD holder who is NOT afraid to delve into unknown territory of banking and global finance. This is called the 'philosophy' aspect of a PhD degree. That is why when a true-PhD holder talks on TV, most of you will gape in awe cos he/she knows 5hit that you dont. They can foresee future directions in their field since they are at the top of the game. He/she is NOT merely implementing other people's solutions. He is CREATING the solutions.

If you dont understand this analogy, I cannot help you. Go ahead and console yourself that PhD holders are useless, if it helps you to sleep well at night.

That article (or story) in the Economist was written by an educated illiterate (who probably got denied admission into a PhD program, or was frustrated and had to abandon it) or is just another myopic slowpoke who does not know the benefit and impact of a PhD. In short, that author from Economist is a Dangote-wanna-be. Let him go and make millions selling spaghetti, sugar and cement and allow us (PhD holders) to face the real issues that make the world go round.

Just because it is written by the Economist doesnt make it factual or authoritative.

Does the OP even have a bachelors degree?
Why is he bothering with whether a PhD is useful or not?

As far as I am concerned, the journey to PhD is not even for everybody. First you have to get a bachelors degree, then a masters degree.
If you have passed through both, then you should be in a better position to say if you need a PhD or not.

PhD isn't the panacea for unemployment. I don't think that a PhD is for you, if your problem is getting a job and making a living. PhD demonstrates a level of expertise and extensive scholarship relating to a subject matter that is not likely to be considered at undergraduate level. And a PhD is not required for 98% of jobs anyway. So why worry about it?

@PeeDaVinci

I agree with you. The training I received all through the 3 years I invested to get a PhD was an eye opener for me. However, I would like you to expand on your thoughts on work experience and PhD. Whilst I agree that PhD can be a sort of work experience, I still think there are a lot of parallels when both are compared and each one of them has its own advantage over the other. For example, due to the daily pressures of emphasis on deliverables in the everyday work, the average worker is trained in setting and meeting deadlines whilst still delivering on profits for his/her employer. For the PhD holder, this is more relaxed. Sure he has pressures too but its more spread over a period of time (months/years). So I wouldn't be too quick to equate PhD with work experience. But I will love to hear your view on this.

@OP,
Like someone rightly stated, define what you term as success. I am certain that by God's Grace, with a PhD, just like with lower degrees, you should be able to take good care of yourself and your family. Taking this higher however, from my experience, a PhD opens doors to a lot of opportunity. It is now up to you how you use the opportunity. Usually, I don't like using the 'Dr' attribute but I have noticed that when I add it to my name, I tend to get positive responses

drzed:

Without PhD holders, science, engineering, medicine and other fields of human endeavor - will not advance to the level it has reached today. Fact.

PhD researchers are responsible for most progress in things you take for granted around you: from your big-azz flat screen TV at home, to you touch-screen phones, to the latest pain-killers in your pharmacy, to automated parking of latest car models. They found cures to countless diseases including the forthcoming vaccine for malaria; they have invented things like MRI scanners and Graphene (google it); and you can be damn sure that PhD holders will come up with a vaccine for HIV/AIDS. And if anyone will decode cancer and prevent/cure it, it will be some 'obscure' PhD researcher or academic toiling away somewhere right now as we speak.

my thoughts exacty, in naija society today most of these scientists/ solution crafters are most of the time increasingly being ignored in important strategic matters/sectors and instead they are eternally condemned and confined to the classrooms.

Aggrippa:
my thoughts exacty, in naija society today most of these scientists/ solution crafters are most of the time increasingly being ignored in important strategic matters/sectors and instead they are eternally condemned and confined to the classrooms.

They're not deliberately ignored. There's just little use for PhDs in our society at this time. In fact, the fewer the better.

Aggrippa:
my thoughts exacty, in naija society today most of these scientists/ solution crafters are most of the time increasingly being ignored in important strategic matters/sectors and instead they are eternally condemned and confined to the classrooms.

If you ask me, I think this is one area Nigeria needs to work on. Since my days as an undergrad in Nigeria, I have always opined that the solution to a country's problem are first solved within the four walls of the Uni by researchers/students. The University whether we like it or not is a reflection of the society as a whole and unless there's proper funding of novel academic ideas, we will continue to lag behind and depend on solutions from China, etc.

@drzed &@PeeDaVinci: u both ve rightly answered the OP n others wt myopic reasoning.
For as many out there wt d goal of reachn dt level of academic relevance(just as me), the stress&price PhD demands s far less dn d prestige and opportunities it offers when achieved.
Very soon, all present faculties in our universities, DGs of MDAs would vacate their positions, definitely, fresh bloods must step in. We set d pace&direct d affairs of ds nation @d management level.

StephenAyo: @drzed &@PeeDaVinci: u both ve rightly answered the OP n others wt myopic reasoning.
For as many out there wt d goal of reachn dt level of academic relevance(just as me), the stress&price PhD demands s far less dn d prestige and opportunities it offers when achieved.
Very soon, all present faculties in our universities, DGs of MDAs would vacate their positions, definitely, fresh bloods must step in. We set d pace&direct d affairs of ds nation @d management level.

True talk bro. Whether they choose to vacate gracefully or not, age and natural cycle will catch up. In less than a generation (10 - 15 years) we will begin to see better educated academics and researchers in Nigeria, taking up positions where they lead research and development.

Just because GEJ is effing up does not mean people should castigate PhD holders. Are all football strikers suddenly useless simply because Yakubu Aiyegbeni missed an open goal from 0.1 centimeters away?

They want to be like China and UK yet they don't want to invest in their PhD programmes. They will rather spend on Namadi Sambos guest house.

Deluded people.

9icest: The Economist did a story on Phd about a year ago...
http://www.economist.com/economist-asks/doing_phd_waste_time
They proved its a clear waste of time in our current global economy....
Besides the fact you have to please all those sadist professors who dont want you to have the Phd, its there are many companies out their searching for a PhD holder.

Get inspired, visit
www.inspired.com.ng
for your daily inspirational dose!

Did you even read the Economist link you provided? What The Economist did there was ask readers whether getting a PhD was a waste of time and 42% of total votes said yes while 58% said no.

How you turn around and twist everything is completely amazing.

Na wa for some Nairalanders o. Haba

@drzed

9icest didn't even understand what the Economist was talking about. He was COMPLETELY wrong

I wonder what is wrong with the thinking of people that went to school.

Some graduates think they cant engage in certain types of profession e.g. Driving, transportation, haulage, auto repair mechanics, electricians, apprenticeship and general trade.

These above named trades boast of producing the richest men in business yet a graduate will find it mean to engage in commercial driving. Forgetting that before you own a transport company with a fleet of 500buses, you must fight with touts and go through driving yourself.

I am of the line of thought that the financial worth of a Phd is the worth of a sheet of paper on which the certificate is printed.

Illiterates are the richest men in Nigeria...

WEDA WE LIKE IT OR NOT...PHD HOLDERS ARE STILL D MOST DRASTIC AGENTS OF CHANGE ANY SERIOUS COUNTRY MUST AV.NIGERIA IS NOT A SERIOUS COUNTRY DAT IS Y MOST OF US DONT REGARD DEM.AM NOT ONE YET 1 BUT ITS A MARK IN MY ACADEMIC CAREER I COVET WIT EVERY PASSION IN ME.MONEY IS GOOD BUT NOT EVERYTIN,EGO GO COM AUTOMATICALLY...RELEVANCE FIRST...

#80million:
*speechless*

PHD means Poverty of the Highest Degree.

If you are not financially free yet,instead of spending your money and time on a Phd,us e that money to feed your family or better START A BUSINESS!

Don't even know where to start responding to this ignorant statement. Please if you know you don't have anything meaningful to say, just scroll and read.

okpara ugo: I wonder what is wrong with the thinking of people that went to school.

Some graduates think they cant engage in certain types of profession e.g. Driving, transportation, haulage, auto repair mechanics, electricians, apprenticeship and general trade.

These above named trades boast of producing the richest men in business yet a graduate will find it mean to engage in commercial driving. Forgetting that before you own a transport company with a fleet of 500buses, you must fight with touts and go through driving yourself.

I am of the line of thought that the financial worth of a Phd is the worth of a sheet of paper on which the certificate is printed.

Illiterates are the richest men in Nigeria...

@the bolded...and that is why Nigeria will never progress with other progressive nations along the line of logical reasoning! How can you expect a nation to plan ahead when illiterate men who have no idea of the dynamism in the social structures control the system? That is why the same illiterate rich men like Adedibu e.t.c. have held all of you hostages for years...

I read post like this and begin to wonder if the op has any form of exposure...
Note; Not everybody will be a Dangote but everybody can own a PhD which to me translate to a better you and a better life.. I know friends that are PhD holders that are not in the classroom. They work in multinationals that it will take the grace of God to take you to with your Bsc or even Masters.. Also note; Not all PhD holders work in ds places but trust me with a good research and the level of exposure you get. You stand a chance to be at the top of your career anywhere in the WORLD.

drzed: It is only in places like Nigeria (where people are allergic to progress) that PhD is synonymous to lecturing.

For the avoidance of doubt, a PhD gives you expertise (in your chosen area).

Whether you elect to use this expertise in a lecture hall, research institution, a multi-national or your private entrepreneurship is entirely up to you.

PhD holders are problem solvers (in their own domain) but they also have a wider grasp of research methodology than most folks. Unfortunately, some so-called PhD holders in Nigeria (including a few associated with leadership) have failed to demonstrate the minimum level of intellectual acumen, commensurate with the title.

Now as for the OP (and other Nairalanders/Nigerians who associate PhD with stupendous wealth) let it be clear that the richest black man today (Dangote) does not have a PhD. In fact, Bill Gates did not even finish college (degree). So what does that tell you about degrees and money? Having a university degree (of whatever level) is not a guarantee for success in life.

Problem is that too many Nigerians associate success with money, money, money. If it is ONLY money you want, then just go into trading. After all, Dangote, with all his billions, is just a trader (yes, I said it). He made (and makes) money selling sugar, salt, spaghetti, flour and cement. Chikenan! What stops you from doing same?

You dont need a PhD to make money. On the flip side, having money also does not make you (or guarantee that you would be) educated. You should define success according to your own terms and stop this wanton pursuit of kudi, ego, owo. This is why Nigeria is so corrupt because everyone wants to 'make it'. And while there is nothing wrong with making it, most Nigerians want to 'Hammer' overnight.

I tire for my people.

Finally, let me answer the question posed by the title of the thread (with a JAMB question): What is the worth of ignorance financially?

Over to you.

Then what is the worth of poverty financially!?

In your explanation. Would you call Bill Gates an ignorant man?

Oga, go make money... Stop this theory.

Thanks guys for thrashing this topic out coolly. Those low life mediocre morons were beginning to tire me out. consoling themselves with dangote this, bill gates that.

to those with d mad rush of beta waves, may those brains never tire.

StephenAyo: @drzed &@PeeDaVinci: u both ve rightly answered the OP n others wt myopic reasoning.
For as many out there wt d goal of reachn dt level of academic relevance(just as me), the stress&price PhD demands s far less dn d prestige and opportunities it offers when achieved.
Very soon, all present faculties in our universities, DGs of MDAs would vacate their positions, definitely, fresh bloods must step in. We set d pace&direct d affairs of ds nation @d management level.

my point is this: if your motivation for going for phd is money, chances are that you will be disappointed. but if you are driven by quest for knowledge, and opportunity chart the course of development of your community and humanity through scientific reasoning, you are likely going to be fulfilled, and in the process, you may become rich.

sholesky: WEDA WE LIKE IT OR NOT...PHD HOLDERS ARE STILL D MOST DRASTIC AGENTS OF CHANGE ANY SERIOUS COUNTRY MUST AV.NIGERIA IS NOT A SERIOUS COUNTRY DAT IS Y MOST OF US DONT REGARD DEM.AM NOT ONE YET 1 BUT ITS A MARK IN MY ACADEMIC CAREER I COVET WIT EVERY PASSION IN ME.MONEY IS GOOD BUT NOT EVERYTIN,EGO GO COM AUTOMATICALLY...RELEVANCE FIRST...

Bless your soul thou son with delightful utterances.

Well it depends on what you have a phd in not all degrees are created equal.

okpara ugo:

Then what is the worth of poverty financially!?

In your explanation. Would you call Bill Gates an ignorant man?

Oga, go make money... Stop this theory.

Theory, abi? Please stop wasting your time on Nairaland. Go back to your spare-part business or whatever it is you do to make the 'millions' that makes you so restless. If or when 'that disease' finally catch you, you will know the value of PhD or research.

Just listen to yourself: what is the worth of poverty financially? The statement is grammatically correct, but it is illogical and senseless. Did you actually 'think' about it in your own head as you conceived or typed it? Or you just recycled the question I posed earlier? Let me rephrase YOUR question to make you understand what you are asking: What is the worth of wealth financially? Now does that sound logical or answerable? You can ask: what is the worth of poverty to an economy, to a family, to a society BUT not financially. Thats like asking what is the worth of letter 'Q' alphabetically.

No wonder you despise PhD. I wont be surprised if you hate primary school certificate too

Like one clever fellow observed above: We dream of Nigeria being like China, Singapore and Malaysia, but we dont want to take the steps those countries took to make progress. You wan go heaven, but you no wan die, ko?

Nigeria is backward because of this your kind of thinking.

Tony Spike:
@the bolded...and that is why Nigeria will never progress with other progressive nations along the line of logical reasoning! How can you expect a nation to plan ahead when illiterate men who have no idea of the dynamism in the social structures control the system? That is why the same illiterate rich men like Adedibu e.t.c. have held all of you hostages for years...

I am throwing a challenge to our graduates to stop staying at home in search of a job, enter the parks, enter construction sites, take up driving.. Etc and make a living.

That is actually where the money is. Money runs away from shy people. If you want to make it big, at some point, you will engage in a scheme that will make people call you names.

okpara ugo:

I am throwing a challenge to our graduates to stop staying at home in search of a job, enter the parks, enter construction sites, take up driving.. Etc and make a living.

That is actually where the money is. Money runs away from shy people. If you want to make it big, at some point, you will engage in a scheme that will make people call you names.

thanks alot, naija grads too shy in money-making activities.sometimes for one to make it one has to put on shirt and jeans, rolling up sleeves in place of corporate suit and tie to be successful!!!

A PhD alone will not bring you wealth, it depends on what you do with. A goal getting BSc holder can do better than a PhD holder.

I know someone who just completed his PhD in 3 years, immediately got a job paying £2500 per month (take home). I know another who with his PhD got a record promotion and is now leading a research team of 10 in 5 years in a top company in the healthcare field - mega bucks!

Some others go to academia (rubbish pay but stable lifestyle), some get a normal job like any other degree holder.

I personally will not do a PhD out of money unless you see an opening in a company that interests you and you need it. You have to know what you enjoy, what kind of job you want to get with your PhD and whether your PhD is relevant to that opportunity.

Knowledge acquisition, just like PhD education, is not appreciated in a superstitious and religious society like Nigeria. Nigeria is the reverse opposite of what a progressive society ought to be. A nation that's willing to grow need to develop novel ideas, driven by very knowledgeable people, embraced by thousands of industries who readily employ more hands to expand their business. It's called the chain model. This chain model works well even in serious developing countries like South Africa, Botswana, Zimbabwe, Egypt and Kenya. I've meet a lot of Africans in the course of my research and I'm currently in a country that appreciate PhD holders (although, I'm not yet one). Until Nigeria embraces the fact that ideas ruled the world, not money and religion, I'm afraid we will continue to stagnate and remain the dregs of developing countries. By the way, bulk of the blame goes to the non-challant thought-process and low enthusiasm of our governments, past and present.

Tony Spike: Knowledge acquisition, just like PhD education, is not appreciated in a superstitious and religious society like Nigeria. Nigeria is the reverse opposite of what a progressive society ought to be. A nation that's willing to grow need to develop novel ideas, driven by very knowledgeable people, embraced by thousands of industries who readily employ more hands to expand their business. It's called the chain model. This chain model works well even in serious developing countries like South Africa, Botswana, Zimbabwe, Egypt and Kenya. I've meet a lot of Africans in the course of my research and I'm currently in a country that appreciate PhD holders (although, I'm not yet one). Until Nigeria embraces the fact that ideas ruled the world, not money and religion, I'm afraid we will continue to stagnate and remain the dregs of developing countries. By the way, bulk of the blame goes to the non-challant thought-process and low enthusiasm of our governments, past and present.

10000000 Likes for you my brother!

Nigerians need to understand that it is ideas that rule the world. Money is just a tool used to execute ideas. Until such a time when we understand this, we will continue to wallow in the grey and shallow waters of mediocrity and backwardness.

Let me give an example.

We talk every day about fighting corruption in Nigeria. We have been singing this song since the first coup of 1966. But I can bet you that you wont find up to 10 PhD thesis in the entire country where our researchers studied our nationwide affinity for corruption in any sector (e.g. Police, Civil Service or Energy). You probably wont find up to 10 scientific studies of corruption in any Nigerian sector, that was published by a peer-reviewed journal where people will critique it, appreciate the causal factors and devise solutions via contributions. And yet we expect miracles and for corruption to just 'disappear' simply because one Farida, Ribadu or whoever is in charge of EFCC. Na beans? Fighting corruption is not by 'chest' or by gra-gra.

In this regard, Nigeria is actually a laughable society. We delude ourselves.

You see, because we dont value ideas over money, people like Obasanjo/GEJ will continue to throw billions at the power sector and wonder why it is not producing results.

Hint: study or research the problem, devise a solution to it, THEN you can throw money at the problem. You can then sit back and watch results. And if you use a proper methodology for the problem (hint: what PhD holders are good at) then at every stage of implementation, you will be in control. All the variables of the problem are known and can be controlled.

Vision 2020 my a55! At the rate we are going, we wont even achieve vision 2090. Heck, do we actually have a vision?

[quote author=drzed]

10000000 Likes for you my brother!

Nigerians need to understand that it is ideas that rule the world. Money is just a tool used to execute ideas. Until such a time when we understand this, we will continue to wallow in the grey and shallow waters of mediocrity and backwardness.

Let me give an example.

We talk every day about fighting corruption in Nigeria. We have been singing this song since the first coup of 1966. But I can bet you that you wont find up to 10 PhD thesis in the entire country where our researchers studied our nationwide affinity for corruption in any sector (e.g. Police, Civil Service or Energy). You probably wont find up to 10 scientific studies of corruption in any Nigerian sector, that was published by a peer-reviewed journal where people will critique it, appreciate the causal factors and devise solutions via contributions. And yet we expect miracles and for corruption to just 'disappear' simply because one Farida, Ribadu or whoever is in charge of EFCC. Na beans? Fighting corruption is not by 'chest' or by gra-gra.

In this regard, Nigeria is actually a laughable society. We delude ourselves.

You see, because we dont value ideas over money, people like Obasanjo/GEJ will continue to throw billions at the power sector and wonder why it is not producing results.

Hint: study or research the problem, devise a solution to it, THEN you can throw money at the problem. You can then sit back and watch results. And if you use a proper methodology for the problem (hint: what PhD holders are good at) then at every stage of implementation, you will be in control. All the variables of the problem are known and can be controlled.

Vision 2020 my a55! At the rate we are going, we wont even achieve vision 2090. Heck, do we actually have a vision?

You are very correct.

drzed: It is only in places like Nigeria (where people are allergic to progress) that PhD is synonymous to lecturing.

For the avoidance of doubt, a PhD gives you expertise (in your chosen area).

Whether you elect to use this expertise in a lecture hall, research institution, a multi-national or your private entrepreneurship is entirely up to you.

PhD holders are problem solvers (in their own domain) but they also have a wider grasp of research methodology than most folks. Unfortunately, some so-called PhD holders in Nigeria (including a few associated with leadership) have failed to demonstrate the minimum level of intellectual acumen, commensurate with the title.

Now as for the OP (and other Nairalanders/Nigerians who associate PhD with stupendous wealth) let it be clear that the richest black man today (Dangote) does not have a PhD. In fact, Bill Gates did not even finish college (degree). So what does that tell you about degrees and money? Having a university degree (of whatever level) is not a guarantee for success in life.

Problem is that too many Nigerians associate success with money, money, money. If it is ONLY money you want, then just go into trading. After all, Dangote, with all his billions, is just a trader (yes, I said it). He made (and makes) money selling sugar, salt, spaghetti, flour and cement. Chikenan! What stops you from doing same?

You dont need a PhD to make money. On the flip side, having money also does not make you (or guarantee that you would be) educated. You should define success according to your own terms and stop this wanton pursuit of kudi, ego, owo. This is why Nigeria is so corrupt because everyone wants to 'make it'. And while there is nothing wrong with making it, most Nigerians want to 'Hammer' overnight.

I tire for my people.

Finally, let me answer the question posed by the title of the thread (with a JAMB question): What is the worth of ignorance financially?

Over to you.

[b]Chief, if u were a woman i would have flown where u are and married u on the spot!!!!!


The problem with majority of nigerians today is that we are ignorant. Very ignorant and myopic. The levell of decay and rot in our system has sooooo corroded our collective thinking that everyone wants to "eat" fast. They want to make millions at the drop of a hat. If u ask the average nigerian what he/she wants to do, it is either a doctor, and engineer, banker, etc. All fields that bring in money. they want to drive the flashiest cars, go to choice places, live in houses with 50+ rooms. But to get there, they will want the shortest and easiest route. That's how myopic we are.

Getting a phd is not only about going to lecture as u said, but our mindsets are automatically programmed to that. It is a default setting in our minds. that's why people dont want to go that far into academics, earning phds. I know so many companies today that do not require anything less than a phd for their recruitments. Here in the US, once u have a phd, u can attain certain places where a masters degree holder can't reach. Phd no be moinmoin. One ignoramus said it earlier that Phd is just a paper that shows that u are an over-sabi and u can't do anything meaningful with it. Why in that case did u go to school?

People are just ignorant. pure and simple. With this rate, once the generations of real lecturers leave and we have no one to teach future generations, with everyone busy making money here and there, we will see where we will land. If education is a problem, then try ignorance for a change.[/b]

a phd in IT security does not add value from a company's point of view..

a bachelors degree with a ccnp or cissp or a bunch of other certs is worth more than a phd..

You dont go into a phd for money, you go into a phd because you love research or love the field enough to teach in it but not for money.. In certain cases a phd might even limit your employment opportunities..

There are only certain fields where a phd translates to higher pay : economics, healthcare and certain types of engineering.. definitely not IT

obi2012: a phd in IT security does not add value from a company's point of view..

a bachelors degree with a ccnp or cissp or a bunch of other certs is worth more than a phd..

You dont go into a phd for money, you go into a phd because you love research or love the field enough to teach in it but not for money.. In certain cases a phd might even limit your employment opportunities..

There are only certain fields where a phd translates to higher pay : economics, healthcare and certain types of engineering.. definitely not IT

If there is any area where you find a lot of PhD's it is in the IT industry. From Apple, to Google, to twitter, to Intel, you find loads of PhD's contributing, redesigning and re-engineering processes and products in these companies.

These are organisations that know their worth and not those your "IT companies" at Otigba street Ikeja.

obi2012: a phd in IT security does not add value from a company's point of view..

a bachelors degree with a ccnp or cissp or a bunch of other certs is worth more than a phd..

You dont go into a phd for money, you go into a phd because you love research or love the field enough to teach in it but not for money.. In certain cases a phd might even limit your employment opportunities..

There are only certain fields where a phd translates to higher pay : economics, healthcare and certain types of engineering.. definitely not IT

Not true at all.
PhDs are needed in any R and D environment. Not the least IT.
IT is more than installing MS Exchange oh, bros. That's sysadmin work. You don't even need a Bsc to do that.