Connect with us

business

Nigeria Must Create 27m Jobs or Face 30% Unemployment

Published

on

Nigeria

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.

Advertisement

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.”

Advertisement

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.

Advertisement

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.

Advertisement

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.

Advertisement
Nigeria

Nigeria Must Create 27m Jobs

Nigeria

Nigeria Must Create 27m Jobs

Nigeria

Nigeria Must Create 27m Jobs

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

news

Rest of World to Shut Down as Search for New Home Continues

Published

on

Rest of World

Rest of World shutdown plans point to January 2027 as leaders seek a new institutional home for the nonprofit technology newsroom

Rest of World, the international nonprofit digital publication known for reporting on technology’s impact beyond Western markets, is preparing to end operations as an independent organisation in January 2027 while its leadership searches for a new institutional home.

Also read: Flamingos Target Quarter-Finals in Mexico Clash

Deputy Editor Rina Chandran confirmed the development in a LinkedIn post on Monday, October 26, 2026, saying the newsroom would continue publishing until the end of January as efforts to secure a future for the publication continued.

Advertisement

“Yes, it’s true: Rest of World is shutting down. After six years of award-winning reporting, our leadership is searching for a new home for the publication that was launched to cover innovation outside the West,” Chandran wrote.

She recalled joining the publication as its Southeast Asia editor in Bangkok before moving to San Francisco, where she became a deputy editor covering how technology developed in Silicon Valley affects people in other parts of the world.

Chandran described working with the publication’s reporters, editors, freelancers and columnists as a privilege, expressing appreciation for the people who contributed to its journalism.

Advertisement

She also reassured contributors that work already commissioned would still be published and that existing journalism would be preserved and remain accessible.

“If you are a freelancer or columnist who has already been commissioned, you’re good! Your work will be preserved and continue to be accessible,” she wrote, thanking readers, donors and supporters.

The announcement follows a report by Semafor on Sunday that Rest of World founder and principal financial backer Sophie Schmidt had held discussions with several large institutions about potentially taking over the newsroom.

Advertisement

According to Semafor, two people familiar with the plans said a late-January wind-down date had been set to give employees time to receive exit packages and seek new jobs if efforts to find a new institutional home failed.

Schmidt reportedly told donors that the publication would stop operating as a standalone entity at the end of January.

The proposed closure comes amid a reported decline in traffic from web searches and social media referrals over the preceding 18 months.

Advertisement

The publication had attempted to retain readers by placing greater emphasis on Western audiences and requiring visitors to register before accessing articles.

Founded in 2020, Rest of World sought to broaden technology journalism beyond the traditional focus on Silicon Valley and other Western technology centres.

Its reporting examined how digital products, platforms and infrastructure shape everyday life, work and economies in emerging markets and other underreported regions.

Advertisement

Schmidt pledged $60m to establish the project as a nonprofit newsroom.

Over the years, its coverage has explored technology-driven changes in labour markets, digital infrastructure, artificial intelligence and the influence of major technology companies.

The publication’s 2025 annual report said it reached more than 753,000 readers monthly across platforms and channels, with reporting spanning nearly 40 countries during the year.

Advertisement

Those figures illustrate the scale of its international reporting, even as the organisation faces difficulties sustaining its current operating model.

The planned end of independent operations does not necessarily mean the publication’s journalism will disappear.

Its leadership is seeking an institution that could provide a future for the newsroom, while Chandran has said its existing work will remain accessible.

Advertisement

Also read: Flamingos Target Quarter-Finals in Mexico Clash

Whether a suitable organisation will take over the publication, and what form Rest of World might take under new ownership or institutional support, remains unresolved.

Advertisement
Continue Reading

Trending