Transforming Nigeria Series 2: Jobs for Nigeria’s Future By Amofin Beulah Adeoye

Nigeria’s Youth Employment Paradox: From Potential to Prosperity

Nigeria’s story has long been marked by a striking contradiction: a youthful population brimming with talent, ambition, and energy, yet trapped in a system that fails to offer meaningful and sustainable employment opportunities. This dilemma is deeply entrenched and familiar. Reflecting on my own undergraduate years studying law, there was a pervasive anxiety about the future. The term “charge and bail” lawyers was a grim label for those who struggled to find stable legal careers-lawyers who resorted to earning daily wages by assisting litigants in court corridors.

While I consider myself fortunate to have avoided this fate, I am acutely aware that I represent a small fraction of the population. Nigeria is home to over 170 million individuals engaged in informal entrepreneurship or unemployed, a vast human resource idling without direction. This is not just an economic statistic; it is a profound crisis of human dignity and a threat to national stability.

Beyond Job Creation: The Quest for Quality Employment

The challenge facing Nigeria transcends mere job creation. The imperative is to foster employment that offers dignity, reliable income, and opportunities for advancement. We must shift from a survival mindset to one focused on prosperity and growth. This article outlines a strategic framework for transforming Nigeria’s employment landscape by revamping education, learning from successful models worldwide, and implementing bold, innovative policies.

Unemployment in Nigeria: A Crisis of Quality, Not Just Quantity

Official unemployment rates, such as the 5.3% reported by the National Bureau of Statistics (NBS) in the first quarter of 2024, obscure a more troubling reality. The highest unemployment rates are found among educated youth, with a staggering 9.0% unemployment rate among Nigerians holding post-secondary qualifications. This data reveals a systemic failure: millions of graduates are left without jobs that match their skills, swelling the ranks of those “Not in Education, Employment, or Training” (NEET) or pushing them into precarious informal work.

The informal sector, which employs over 90% of Nigeria’s workforce, is often idealized as a hotbed of entrepreneurship. In truth, it is frequently a trap of instability-characterized by low pay, lack of benefits, and no job security or career progression. This environment undermines the dignity of work and perpetuates economic vulnerability.

Four Systemic Barriers to Quality Employment

• Educational Disconnect: Nigeria’s education system remains out of sync with the demands of the modern economy. Graduates often possess theoretical knowledge but lack practical skills in technology, digital literacy, creativity, and critical thinking. Employers consistently report difficulty finding qualified local talent.
• Infrastructure Deficiencies: Reliable infrastructure is essential for competitive industries. Chronic power outages, poor transportation networks, and costly, unreliable internet service impose hidden costs that hinder business growth and competitiveness, especially when compared to international counterparts.
• Capital Access Challenges: While innovative ideas abound, access to startup capital is severely limited. Financial institutions are risk-averse, requiring collateral that young entrepreneurs typically cannot provide, causing many promising ventures to wither before they begin.
• Policy Fragmentation: Nigeria’s approach to job creation has been piecemeal and short-term. The absence of a cohesive, long-term industrial strategy discourages sustained private investment necessary for large-scale employment generation.

Emerging Success Stories: Lessons from Oyo State

Despite these challenges, some regions are pioneering effective solutions. Oyo State, for instance, has been recognized by the NBS as the most employment-friendly state in Southern Nigeria, boasting an unemployment rate near 2.0%. This achievement stems from a dual strategy:

1. Immediate Stabilization: The state government directly employed over 22,000 individuals in education and other public sectors, providing stable and dignified jobs.
2. Future-Oriented Skills Development: The Enterprise Skill Development Program trains 500 unemployed youths in entrepreneurship across all 33 Local Government Areas, equipping them with tools for self-sufficiency.

While the Oyo model offers valuable insights, scaling such initiatives is critical. Nigeria needs to train hundreds of thousands, not just hundreds, per local government area. The key takeaway is the demonstration of political commitment and data-driven policymaking. For broader scale, Nigeria can draw inspiration from countries like Rwanda and Singapore.

Global Blueprints for Employment Transformation

Rwanda’s Visionary Approach: Rising from a tragic past, Rwanda rebuilt its economy through clear, long-term plans like Vision 2020 and Vision 2050. By focusing on sectors such as ICT, manufacturing, and agro-processing, and fostering public-private partnerships, Rwanda created an environment where the private sector drives job creation.

Singapore’s Human Capital Focus: Singapore’s transformation from a developing port city to a global economic powerhouse was fueled by relentless investment in its people. The “SkillsFuture” initiative provides lifelong learning credits to citizens, ensuring continuous skill development aligned with market needs. This dynamic system links education, industry, and individuals, maintaining a competitive workforce.

A Five-Point Strategy for Nigeria’s Employment Revolution

1. Establish a “SkillsFuture Nigeria” Trust Fund: Create a government-backed, portable fund for Nigerians aged 18-35 to finance accredited training in high-demand areas such as digital technology, advanced trades, and creative industries. Funding could come from a 1% levy on profits from lucrative sectors like telecommunications and banking.
2. Reinvent NYSC as an Entrepreneurship Accelerator: Transform the National Youth Service Corps by introducing an “Entrepreneurship Stream” where 100,000 corps members annually engage in business incubation, mentorship, and pitch for seed funding, turning a social program into an economic engine.
3. Support Growth of Small and Medium Enterprises (SMEs): Shift focus from merely starting businesses to scaling them. Implement policies like “Incentivize the Hire,” offering tax breaks to SMEs that expand their workforce with formal employment and benefits.
4. Create Tech & Creative Special Economic Zones (TCZs): Develop dedicated zones in key cities with guaranteed 24/7 power, ultra-fast internet, and streamlined regulations to attract global outsourcing, software development, and creative industries, generating high-quality export-oriented jobs.
5. Modernize Labour Laws for the Gig Economy: Update legal frameworks to provide portable benefits such as pensions and health insurance for gig and informal workers, enhancing job security and dignity for millions.

Empowering Nigeria’s Future: A Collective Call to Action

Nigeria’s greatest asset is its youthful population-over 100 million strong. To fail them is to jeopardize the nation’s future. At a recent convocation at Chrisland University, I shared my own journey, including a humbling year spent performing menial tasks despite holding a First Class Law degree and professional accounting qualifications. This experience taught me the value of perseverance and excellence in every role, a message I urge young Nigerians to embrace amid challenging realities.

To the Youth: Take initiative. Engage with available training programs, form cooperatives, and address community challenges with innovative solutions.

To Communities: Move beyond individualism. Pool resources, share tools and data, and foster collective entrepreneurship to amplify impact.

To Citizens: Demand accountability from political leaders. Prioritize job creation plans over short-term handouts in electoral discourse and hold officials responsible for delivering results.

To Mentors and Role Models: Guide young people by sharing experiences and encouraging continuous learning and resilience, exemplified by leaders like Professor Oladunni Sola Arulogun, whose career spans education, healthcare, and university leadership.

To Consumers: Support local businesses. Every naira spent on Nigerian enterprises is an investment in jobs, dignity, and national progress.

The journey ahead is challenging but clear. By embracing strategic reforms and collective action, Nigeria can unlock the full potential of its youth and build a prosperous future.

About the Author

Amofin Beulah Adeoye is a distinguished legal and financial expert with global recognition in forensic accounting, governance, and philanthropy. A First Class Law graduate from the University of Ibadan, Certified Fraud Examiner (CFE), and Associate Chartered Accountant (ACA), he formerly served as Financial Advisory Partner at Deloitte & Touche West Africa. Since August 2024, he has dedicated himself to political and community development in Nigeria, earning numerous accolades. Adeoye collaborates with multinational organizations across healthcare, finance, energy, logistics, and real estate sectors and actively engages the Nigerian diaspora through strategic dialogues and philanthropic initiatives via the Beulah Adeoye Foundation.