NESG Warns Nigeria Must Create 27 Million New Jobs by 2030 to Avert Crisis
By Patience Ikpeme
The Nigerian Economic Summit Group (NESG) has launched a landmark report warning that Nigeria must create an average of 4.5 million new formal jobs per year to prevent unemployment from doubling by the end of the decade. The report, titled “From Hustle to Decent Work: Unlocking Jobs and Productivity for Economic Transformation in Nigeria,” was unveiled at the 31st Nigerian Economic Summit.
The NESG report reveals that Nigeria’s working-age population is projected to swell to 168 million by 2030, requiring the creation of 27 million new formal jobs between 2025 and 2030 just to keep the unemployment rate at its current levels. Without such immediate and decisive action, the NESG warns, millions risk being trapped in low-skilled, low-income employment.
Mr. Niyi Yusuf, Chairman of the NESG, called for a coordinated national agenda to tackle the crisis, stating:
“The challenge before us is to move decisively into the consolidation phase, embedding reforms in ways that drive jobs, growth, and inclusion, while simultaneously laying the foundations for long-term transformation that secures prosperity for every Nigerian.”
Presenting the report, Dr. Wilson Erumebor, Senior Economist at the NESG, stressed the gravity of the challenge:
“This is not just a labour market issue; it is a huge development challenge. Without decisive reforms to create decent and productive jobs, an entire generation risks being trapped in vulnerable work that neither lifts families out of poverty nor moves the nation forward.”
The report identifies several obstacles to job creation, including the limited depth of Nigeria’s private sector, a severe skills mismatch due to poor learning outcomes in education, and the concentration of growth in low-employment sectors. Structural bottlenecks like inadequate infrastructure and high energy costs.are also cited as major constraints. The report notes that over 90% of Nigeria’s current workforce is in informal employment, with over 80% engaged in low-productivity sectors.
To address these systemic issues, the NESG introduced the Nigeria Works Framework, a blueprint comprising six strategic pillars: Skills for Productivity; Sectoral Engines of Growth; Enterprise Development; Upgrading the Informal Economy; Institutions and Data; and Productivity for Prosperity
The report identifies four priority sectors-manufacturing, construction, Information and Communications Technology (ICT), and professional services—as holding the greatest potential for large-scale job creation and productivity growth.
The NESG concluded that productivity must become the central metric of national competitiveness. It must be tracked, measured, and elevated as the foundation of shared prosperity.
