Despite President Tinubu’s ‘Renewed Hope Agenda’, 60 Million Nigerian Youths May Become Unemployed – Industrialist Warns

The Executive Secretary of Calabar Chamber of Commerce and Industry, Kenneth Assim Ita, has disclosed that there are over 24 million unemployed youths in Nigeria.

The industrialist said that if the represent government fails to do nothing to deliberately create jobs, in the next five years, the figure can rise above 60 million.

VerseNews reports that Ita spoke at the 2023 Nkonib Qua Clan, Calabar Municipality Council Symposium, with the theme, ‘Sustainable Development and Traditional Institutions In The 21st Century’.

Speaking on ‘The Roles and Responsibilities of Youths in Community and National Development’, he said, “Those legally seen as the youths in Nigeria are more than 54% of the total population. 24 million youths are unemployed in Nigeria. In the next five years, it can rise to 60m, if nothing is done to engage them.”

He however cautioned Nigerian youths against waiting on government for jobs.

Ita advised youths to develop entrepreneurship ideas, create jobs and become employers.

“You must persevere, be intentional, dream big but start small.

“Work out your ideas in every sphere of life. If you don’t establish yourself, nobody will give you attention. Entrepreneurship is way out of unemployment.”

VerseNews recalls that President Bola Tinubu, at the Eagle Square during his inauguration, in Abuja, took his oaths of office and allegiance as the 16th President of Nigeria.

Tinubu in his inaugural address at Eagle Square revealed a series of steps he would take to position the country on the path of economic development, stability and prosperity.

He said this as Nigerians have high hopes for a better Nigeria after being plagued with a high rate of unemployment, lack of access to productive inputs such as finance, lack of sufficient government stimulus, changes in government policies and so on.

Here are 4 key takeaways from tinubu’s inaugural speech concerning job creation:

1. Reduce the unemployment rate

President Bola Tinubu said his immediate target is to ensure a higher Gross Domestic Product (GDP) growth and enable a significant reduction in the unemployment rate.

He said that his administration hopes to achieve this through budgetary reform to stimulate the economy without engendering inflation.

2. Encourage light industry

He promised to work with the National Assembly to create omnibus jobs and prosperity bills that will give them the policy space to embark on labor-intensive infrastructural improvements and encourage light industry which will, in turn, create jobs.

3. Promote manufacturing

The industrial policy he proposes will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency which will create jobs in the real sector.

4. Create one million jobs in the digital economy

Technology is no doubt a fast-growing sector among the youths in Nigeria. Hence the new president has said his administration will fulfil his campaign promise to generate one million new jobs in the digital economy.