Nigeria must create 27 million new jobs by 2030 or risk 30% unemployment, warns NESG in its Jobs and Productivity Report released at NES#31

Nigeria job creation must accelerate drastically over the next five years or the country could see its unemployment and underemployment rates soar to 30 per cent, the Nigerian Economic Summit Group (NESG) has warned.

Also read: Lafarge Africa EcoCrete Launches Nigeria’s First Low-Carbon Concrete

This stark projection comes from NESG’s Jobs and Productivity Report, released Monday during the 31st Nigerian Economic Summit (NES#31) in Abuja.

The think-tank called the next half-decade a “critical window” for employment expansion as Nigeria’s working-age population is set to reach 168 million by 2030.

According to the report, 27 million new formal jobs must be created to avoid a deepening labour crisis that would undermine economic growth and worsen youth unemployment.

“Jobs and productivity are central to Nigeria’s economic development,” the report notes. “Failure to act will mean the economy cannot absorb its rapidly expanding youth population, increasing informality and social pressures.”

The group identified several systemic obstacles to employment generation, including a shallow private sector, skill mismatches, an underperforming education system, and “jobless growth” that fails to translate GDP increases into real work opportunities.

Additional constraints include regulatory inefficiencies and chronic infrastructure gaps, which together continue to stifle competitiveness and dissuade business expansion across sectors.

NESG urged the Federal Government to adopt a Jobs and Productivity Agenda, with clear reforms to support sectors that can drive large-scale job creation.

Sectors prioritised for formal job generation include manufacturing, agriculture, ICT, construction, and professional services.

These, NESG argues, can absorb labour from informal and low-productivity areas, helping transition Nigeria toward a more balanced and inclusive economy.

It projected that manufacturing alone could account for 21 per cent of all new jobs by 2030, while collectively, the key sectors could generate 35 per cent (9.7 million) of the formal jobs needed.

The think-tank also unveiled a Nigeria Works Framework — a blueprint built around six strategic pillars: Skills for Productivity, Sectoral Engines of Job Growth, Enterprise-Led Growth, Data Systems, Institutions and Accountability, and Productivity for Prosperity.

“This is not just a report. It is a call to action,” the group stated. “The success of this agenda hinges on stakeholder collaboration, robust data, active monitoring, and political will.”

Also read: Lafarge Africa EcoCrete Launches Nigeria’s First Low-Carbon Concrete

The NESG emphasised that only a coordinated national effort can avert a looming unemployment crisis, improve productivity, and position Nigeria for sustainable economic transformation.

Nigeria Must Create 27m Jobs

Nigeria Must Create 27m Jobs

Nigeria Must Create 27m Jobs