Your Nigerian Economist

Your Nigerian Economist

Inclusive growth lies at the heart of Nigeria's development. From macroeconomic policies to energy resources; trade to development topics, Your Nigerian Economist engages the citizenry in discussing relevant economic issues and proffers solutions towards a fairer, more developed economy.

***

Nigerians are educated and jobless

Mma Amara Ekeruche

Mma Amara Ekeruche

Amara works as a Research Associate at the Centre for the Study of the Economies of Africa (CSEA). She holds a BA (first class) in Economics from Kwame Nkrumah University of Science and Technology, Ghana and an MSc in Economic Policy from University College London.

Educated Nigerians are becoming unemployed at an alarming rate. According to the recent unemployment report released by the National Bureau of Statistics (NBS), unemployment among people with post-secondary school education has almost tripled within three years—from 12% in 2015 to 30% in 2018. Even the most academically qualified Nigerian workers are struggling with unemployment: nearly 10,000 PhD holders are currently unemployed.

When you consider that the national unemployment rate is at 23%, you realise that an educated Nigerian is more likely to be unemployed than the average Nigerian. In short, the likelihood that you have a job is lower if you have gone to university. Education no longer provides the assurance of getting a job and this has many implications for parents striving to put their children through school, students extending themselves to get a degree, and the government that intends to build the economy on the back of a productive workforce.  

Part of the problem lies with the slow rate at which the Nigerian economy is creating formal jobs.  For instance, in 2015 alone, about 251,000 formal jobs were created whereas popular estimates show that Nigerian universities produce 500,000 graduates annually. At the same time, key sectors are shedding jobs. About 350,000 jobs were lost in the petroleum downstream oil sector following the 2016 economic recession.

...
Read More