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Nigeria’s unemployment rate at 33.3 percent; Third highest according to Bloomberg

Nigeria’s unemployment rate at 33.3 percent; Third highest according to Bloomberg

According to a report by Bloomberg, Nigeria has the third highest rate of unemployment at 33.3 percent, while South Africa came top among 82 countries.

It will be recalled that the Minister of Labour and Employment, Chris Ngige, has attributed the employment embargo to the bad economy. He however stated that the Federal Government has created MSMEs to cushion the effect.

Mr. Clem Egba, the Minister of State Budget and National Planning, made it known that the Federal Government’s new Medium – Term National Development plan 2021-2025 is targeted at lifting 100 million Nigerians out of poverty.

In this light, It will be in the best interest of the Nation and the youthful populace if the government can come up with concrete and realistic plans to tame this unemployment monster.

This is the time to look at readily available data to solve this dreadful beast of unemployment seeking to devour us. The government has not been up and doing with recent legislative approach and executive orders, this is the right time for synergy.

Critical assessment for businesses to thrive is very needed at the moment. Only proper knowledge and implementation can help in actually curbing this menace.

This battle cannot be fought as a lone ranger, the earlier the Federal Government realize this the better. If need be, the Federal Government should declare a state of emergency on the ever increasing unemployment rate.

Meet and discuss with relevant stakeholders to help savage this situation.

There are loads of untapped resources and opportunities in this digital era, and the start-ups needs to be properly funded.

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It’s the right time to look critically into this paradigm shift.

Let’s key into the opportunity tech start-ups have to offer. This is not the time to kill start-ups or for unnecessary bans and ill-timed regulations.

This is the time to work together because if we don’t win this war now, this will consume us.The need for synergy from all sectors can’t be overemphasized;

The need for synergy from all sectors can’t be overemphasized; that is, if we are to have a clear cut agenda on winning this war.

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