The idea looks great on paper with the massive unemployment rate where the youth unemployment rate is recording excess of 55%. Yes, I can start a website and help young people find jobs. But remember: the biggest challenge is finding jobs for people in a place with no jobs. Nigeria’s unemployment problems will not be solved with recruitment-focused apps or websites but by creating growing companies of the future. Tell those governors that having dedicated websites for employers to post jobs for the youth will not fix any issue. They just need to provide enabling environment to help companies do their things: put factors of production to work, and create jobs!
Nigeria is yet to recover FULLY from the Great Recession of 2008. While many continue to look at the stock market for signs, the sign that matters is evident – we are losing a generation of young people on acute sustained unemployment. Yes, ‘Youth unemployment and underemployment was 55.4% in third quarter of 2018, leaving more than half of the country’s largely youthful population idle most of the time.’ Look at the trajectory of the proportion of full-time youth employment – not a good pattern!
1. Advance your career with Tekedia Mini-MBA (Sept 13 – Dec 6, 2021): 140 global faculty, online, self-paced, $140 (or N50,000 naira). Click and register here.
2. Click to join Tekedia Capital Syndicate and own a piece of Africa’s finest startups with a minimum of $10,000 investment.3. Register and join me every Saturday at Business Growth Playbooks w/ Ndubuisi Ekekwe (Sept 4 – Oct 23, 2021), Zoom, 4.30pm WAT; costs N20,000 or $60.