The Role of Private Sector in Curbing Youth Unemployment:

Shittu Olaitan Abede Writes from Abuja

Nigeria, a nation brimming with youthful energy and potential, is grappling with a crisis that threatens to derail her progress due to mass unemployment among her youthful population.

With 8.6% unemployment rate,  youth unemployment has far-reaching implications for the country's stability,  economic growth, and social fabric. The recent protest and the violence that mar it in some part of the country is a reminder that decisive action must be taken now.
Nigeria boasts of the youngest population globally, with about 140 million of the country population. This number, if harnessed effectively, could propel Nigeria into a period of unprecedented economic growth and development.
 
However, the flip side of this coin is a burgeoning youth population without adequate employment opportunities and lack of technical know-how on their part to utilise the country mineral resources to their advantage.

There is no doubt about it. The consequences of mass youth unemployment are dire. It fuel social unrest like we witnessed recently,  it increases crime and disillusionments among young people, when young educated minds are left idle, the nation loses a valuable asset and risk a brain drain as talented individuals seek opportunities elsewhere.

Therefore, the above narrative is a pointer that the Industrial juggernaut lead by Alhaji Aliko Dangote, have a lot to do in curbing this time bomb that won't yield the country any good and which may affect them in the near future. The industrialists, in my opinion, hold the key to unlocking the potential of the nations youth.  These industrial behemoths, with their vast resources and influence,  have a unique opportunity to drive positive change.

A strategic partnership between the private sectors, represented by industrial giants, and the public sector, embodied by the NATIONAL YOUTH SERVICE CORPS (NYSC), can be a game-changer  By integrating young graduates into the workforce through structured internships and apprenticeship,  these companies can cultivate a skilled and loyal workforce while addressing the unemployment challenge.

While the objective of NYSC is to Foster National unity and development,  it can be repurchased to serve as a bridge between academia and Industry,  by mandating that a portion of NYSC placement be within the private sector, particularly in large corporations, the scheme can provide invaluable on-the-job training for young graduates.

This approach offers several advantages,  such as skill development most especially practical skills and experience relevant to the job market, also the companies have access to the pool of young talented individuals,  which will be make available by thr NYSC, this scheme if effectively manage, will reduce social impact, such as unrest and large unemployment. It's also a way to mentor young graduates and many other advantages.

Unemployment in Nigeria demands bold and decisive action. It's therefore incumbent upon the nation’s industrialists to step up and fulfil their corporate social responsibility,  by partnering with the NYSC and other relevant stakeholders,  they can create a sustainable pathway to employment for millions of young Nigerians.

This is an investment in the future of Nigeria. By empowering the youth, we are building a stronger, more resident nation.

Let us heed the call and transform Nigerian's youth bulge into a demographic dividend.

Shittu Abede, a journalist,  youth advocate, and public affairs analyst, writes from Garki, Abuja.

Location: Abuja, Federal Capital Territory, Nigeria

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