NESG: Nigeria Must Create 3 Million Jobs Yearly for Youths

The Nigerian Economic Summit Group (NESG) has warned that Nigeria must generate enough decent jobs to absorb the estimated three million young people who enter the labour market every year or risk turning its large youth population into a source of pressure rather than an economic advantage.

With the country’s population above 220 million and nearly 70 per cent under the age of 35, the group said sustained GDP growth over the past two decades has not translated into sufficient productive employment. Many Nigerians remain jobless or stuck in low-productivity informal work with little security.

NESG noted that growth-driving sectors such as oil and gas, finance and telecommunications are not labour-intensive enough. It called for a deliberate shift toward manufacturing, agro-processing, construction, creative industries and micro, small and medium enterprises (MSMEs), which already account for about 96 per cent of businesses and nearly 84 per cent of employment.

The group also highlighted skills mismatches, infrastructure deficits and barriers to formalisation as major obstacles, urging stronger industry-education links, vocational training and policies that deliver not just more jobs but better ones with fair wages and opportunities for advancement.

These issues will be central to discussions at the 32nd Nigerian Economic Summit under the “Work Nigeria” theme.