In recent years, Nigeria’s economic indicators have suggested a cautiously optimistic outlook, with data indicating a drop in the unemployment rate and fuelling discussions of economic progress.

However, a deeper investigation uncovers a troubling contradiction: a significant portion of Nigerian youths remain unemployed, and lack requisite skills.

This phenomenon, despite the reported fall in joblessness, is a cause for deep concern, signalling a crisis that could have long-lasting effects on the country’s socio-economic fabric.

Despite recent reports indicating a decline in the country’s unemployment rate from 33.3 per cent in 2021 to 32.5 per cent in 2023, the number of young people who are neither working, studying, nor undergoing training has continued to rise.

The Manufacturing Association of Nigeria reported that 767 manufacturing companies shut down and 335 experienced distress in 2023 due to various economic difficulties, including rising inflation, exchange rate volatility, and a worsening investment climate.

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