Job Creation and Entrepreneurship Development

The Unemployment Problem

  • Close to 16 million people are unemployed, 9 million more than in 2014
  • Over 2 million new entrants join the labour force each year meaning the unemployed share of the labour force more than tripled in less than a decade: from 5.1% in 2010 to 18.8% in 2017
  • Unemployment for women and young people is at 33%
  • 70% of unemployed youths are uneducated and unskilled
  • Creating jobs and economic opportunities for these people will be vital both for reducing the pool of easy recruits for violent groups and reducing underlying grievances that feed the conflict

Policy Objectives

  • Stimulate the growth of the Nigerian economy with a view to enhancing its capacity to provide opportunities for the economically active population in participate in the economy through wage or self-employment
  • Facilitate the emergence of an entrepreneurial class especially amongst the youth population that would usher in new jobs, new knowledge and the utilization of ICT
  • Partner with the private sector to identify high demand skills for skills acquisition and vocational and entrepreneurial training
  • Establishing training programmes linked with certain sectors that may lead to full-time permanent employment
  • Reduce gradually the rate of unemployment and under-employment to a single digit by 2025

What we shall do

  • Launch a new, more efficient, cost-effective and sustainable national Entrepreneurship Development and Job Creation Programme
  • Target the creation of up to 3 million self and wage-paying employment opportunities in the private sector annually
  • Target all categories of youth, including graduates, early school leavers as well as the massive numbers of uneducated youth
    who are currently not in schools, employment or training
  • Create incubation centres, clusters and industrial/commercial hubs to provide a market place for MSMEs and SMPs
  • Champion the repositioning and streamlining the activities of the existing Federal and State Government Job Creation Agencies