When the Minister of Finance, Ngozi Okonjo-Iweala, announced some days ago that 1.8 million graduates enter the employment market yearly, the magnitude of the unemployment in Nigeria could not have been better captured. Tragedy is: There seems to be no immediate solution, especially from the government in which Okonjo-Iweala serves.
For that huge number to enter the job market annually when a backlog of millions has no job portends grave danger for the country already traumatised by a myriad of problems. It is, however, more baffling that this government appears to have no idea about the actual number of new entrants, and as such, could neither plan effectively nor appreciate the gravity of the challenges. Hence a certain lack of national planning persists even when the educational institutions are there to provide the plank for knowing the population of school leavers.
The minister spoke at a meeting with a delegation of the Arewa Youth Forum (AYF) in Abuja. According to her, the data was generated by the National Bureau of Statistics (NBS) to enable the Federal Government ascertain the level of youth unemployment and come up with policies to address it.
The death of many job seekers at the Nigeria Immigration Service organised test recently may have spurred government to seek accurate data from the NBS. For, as the minister said: “I am proud to say that after two months of methodical work, statisticians have come up with a data that 1.8 million people enter the job market yearly.”
Instead of expressing grief that the country is facing such a grave situation, the minister, of course, is expected to announce what the government in which she serves is doing about it. Gratifying as it is, getting accurate information about the unemployment is no end but a means to an end. Indeed under normal circumstances, such information should be taken for granted.
Without accurate information, the authorities it would seem, before now, have been merely paying lip service to the crisis of unemployment while the number has continued to increase beyond comprehension.
A pertinent question is: Why did it take the death of innocent job seekers for the statisticians to do their job? How reliable is the information released in such a haste? Using that as a base, what is the actual number of the unemployed in the country? And, what strategy is there to tackle the problem?
Of course, only one thing can save or, at least, ameliorate the situation: a nation of entrepreneurship in which creativity and self-help work. Unfortunately, those who would like to be so self-employed can hardly do so due to an unconducive environment. There is absence of critical infrastructure, no raw materials and no good infrastructure. The Small and Medium Enterprises (SMEs) policy designed for this purpose is hardly working and that failure of SMEs is a big minus for job and wealth creation.
Under normal circumstances, big companies should be big employers as they endure and maintain greater stability. But this is only possible in an environment where such businesses can thrive. A situation where there are too many contending forces against industrial development does not augur well for job creation and sustainable industrialisation.
Manufacturing companies are folding up and some have relocated to other West African countries. Not long ago, the Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), disclosed that some 178 cottage and private companies in the southeast have closed shop. The situation is the same across the country.
Specifically, lack of electricity is the single most critical factor hindering industrial development. That, also, is responsible for the demise of thousands of companies, both big and small. Others include poor infrastructure and weak exchange rate, which leads to capital flight. Seeking to reverse the ugly trend of unemployment without stable electricity is almost impossible.
Government should encourage self-employment and the big companies should also be encouraged to return to production with appropriate incentives and enough investment in infrastructure. The YouWin strategy and SURE-P should be made more proactive and comprehensive to help absorb the army of the unemployed.
