The Nigerian Economic Summit (NESG) warned that Nigeria should generate at least 27.3 million new official jobs between 2025 and 2030 to preserve it The unemployment rate at 4.3 One percent and preventing a waving work crisis on the horizon.

In its latest report entitled “From crowds to decent work: opening functions and productivity of the economic transformation in Nigeria,” The group revealed that this translates into an annual average of 4.55 million pure new jobs, which is a goal that it described as “an ambition and indispensable” to maintain comprehensive economic growth and social stability.

NESG noticed, “Our estimates indicate that to maintain the unemployment rate at 4.3 % from 2025 to 2030, Nigeria must create 27.3 million jobs, i.e. an average annual of 4.55 million clear official jobs. Achieving this will be it is very important to accommodate newcomers in the labor market and currently move gradually in concluding low jobs.”

According to NESG, the main sectors that are expected to push the creation of manufacturing jobs (especially agricultural treatment), construction, ICT and professional services. Together, these four sectors have the ability to absorb millions of workers currently participating in informal unofficial activities.

“Collectively, they are expected to contribute to 35 % (9.7 million) of new official jobs, while manufacturing alone will represent 21 % of the new jobs that were created during this period.”

FG urged facing productivity challenges

The group emphasized that the Nigeria road to creating sustainable job opportunities requires facing the challenges of regular productivity and removing restrictions that have weakened the growth of the private sector historically. He stressed that without urgent work, the economy may face high unemployment, exacerbation of poverty, and low social cohesion.

To achieve this goal, NESG called for the adoption of the immediate job and productivity agenda, which it described as a coordinated national framework designed to create decent job opportunities, improve work productivity and open economic competitiveness.

“To create these jobs, Nigeria must address low productivity problems and the growth of the weak private sector in a coordinated and sustainable way. More urgent than ever, Nigeria needs a job agenda and productive devices to create decent functions and raise productivity through the economy. The success of this agenda will depend on interest, continuous monitoring and evaluation, and commitment more importantly.

NESG also pointed out that the labor market in Nigeria is facing increasing pressure from the growing population of the growing youth, many of whom enter the labor market annually without official job opportunities.

The group highlighted that the informal sector currently explains a large share of employment, but it contributes to the minimum productivity or tax revenues.

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The group urged the federal government to launch a national program to develop skills with a focus on technical and professional skills, digital skills and softness.

It was also modified to create a national production fund to support corporate growth and promote productivity.

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