Posted Tue, Mar 8, 2022 3:51 PM

AERC, NESG holds Dissemination Workshop on Youth Unemployment

The African Economic Research Consortium (AERC), in collaboration with the Nigerian Economic Summit Group (NESG) on Tuesday, March 8, 2022, held a workshop with the theme “Sectoral Development: Assessing the conditions that drive youth unemployment in key sectors of the Nigerian Economy” which provided a platform for the dissemination, analysis and discussion of the research findings in the Nigerian space targeting policymakers and key stakeholders that can drive policy implementation in Nigeria and share feedback on the study for AERC to relay back to their stakeholder partners.

In his welcome remarks, Head of Research and Chief Economist NESG, Dr Olusegun Omisakin, who represented the CEO of the NESG, Mr ‘Laoye Jaiyeola, said that the NESG continues to champion economic growth in Nigeria, and the event is aimed at disseminating key findings on drivers of unemployment and provide a platform to deliberate and share perspectives towards improving youth unemployment in Nigeria. He noted that research from the National Bureau of Statistics (NBS) states that 63 percent of Nigerians between the ages of 13 and 34 are underemployed or unemployed and that youth unemployment has resulted in militancy, kidnapping, political thuggery, armed robbery, prostitution and other vices.

Furthermore, Dr Omisakin stated that the study used a sectoral approach to investigate youth unemployment in Nigeria and the need for sectoral reforms in manufacturing, trade, education, health, and ICT, noting that the sectors will champion industrialization strengthen the value chain and promote inclusive growth. 

Ms Dianah Ngui Muchai, Research Manager, AERC, in her opening remarks, said that youth unemployment remains a significant problem for Africa, and one in three young people are employed but often engaged in poor quality jobs, making them vulnerable to job losses and poverty. 

While delivering a presentation of the research findings, Dr Sarah Edewor, Agricultural Consultant - AERC, revealed that the research shows that females assist males and help to increase remittances and that male employment was driven by the manufacturing and services sector, while the trade sector provided more employment opportunities for females; noting that the key constraint to investment in Nigeria is access to finance, electricity issues and corruption.  

During the panel discussion, Mr Ridwan Sorunke, Senior Manager, Global Government Relations & Public Policy, Nigeria & Africa Expansion Markets, Procter & Gamble, said that for the manufacturing sector to drive growth, economic development must be sustained. He noted that foreign exchange devaluation, Policy inconsistency and Infrastructural deficit is a bane to the development of the manufacturing sector.

Furthermore, Mr Temi Adegoroye, the Managing Partner of Sahel Consulting, said that Nigeria still lacks talents and a talent-skill gap in the formal and informal sectors of the Nigerian Economy. On her part, Ms Precious Ajoonu, Managing Director, Edo State Public Service Academy, said that there was a need to mainstream gender issues and having gender support groups that cut across the strata of society will aid representation and economic growth.

Speaking in the same vein, Mr Caleb Usoh, Country Manager/Deputy MD, OCP Africa Fertilizer Nigeria Limited, restated the need for inter-sectoral collaboration to create an environment that will boost productivity and employment. He reiterated the need for the private and public sectors to work together to improve the operating environment to facilitate job creation, increase employment opportunities and enhance economic growth.

Expertly organized by AERC and NESG, the workshop was characterized by research expertise and knowledge, informed debate, and discussions. Held on March 8, 2022, the workshop attracted various groups of stakeholders, including policymakers, academics, health sector workers, students and the media.