Job Creation and Related Economic Challenges in Nigeria

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By Adefolarin A. Olamilekan

Job Creation, job creation and job creation is a familiar buzzword. That Nigerian politician will never get tied of promising. Either during electioneering seasons as we have current toward 2023 general election.Perhaps at this same time when this political actors eventually get into office.

Nevertheless this is not peculiar to Nigeria alone,even in developed countries. Promises on creation of jobs is one economic thrust that no serious political party would toil with.Critically as teeming population of youths and able bodies seek out livelihood as means of surviving.

In this wise,it tasking to dissect the following questions: What is job creation? What is militating against job creation in Nigeria? How best can government tackle job creation ? Can there be an end to related economic challenges with job creations?

As simple as the concept of job creation entails. It definitions by scholars and researchers a likes differ.

This pieces would not bother us much on them,as there submission all have a a singular line of thought. Which we would just paraphrase as opportunity to be engage in economic activity for goods production or service provision to earn a living. 

This earning must be sustainable for quality standard of living.

Having said,without mincing word factors militating against job creation are not far fetch.

Top amongst these factors is the structural deficit in economic. Poor electricity generation,transmission and distribution,import dependency, deplorable roads network,insecurity,policy inconsistency, and corruption. Others includes the level skills and technical ability of graduates. Especially as the focus of every Nigerians job seeker is a government appointment,federal,state or local government. In addition , we cannot rule out the role of finance in job creation. This in particular is a huge challenges to Private Organised Sector (OPSs) expansion and growth to absorb the armies of unemployed youths and able bodies.

Meanwhile, the Nigerian official agency in charge of monitoring the economic growth, National Bureau of Statistics (NBS) current data on unemployment in Nigeria stand at 34% in 2022.

This current figure is scary going by the numerous promises of the government at the centre and subnational in ensuring job are created for Nigerians.

Instructively, several initiative and policy statement from government demonstrate efforts towards job creation. But the reverse is the case if we juxtaposes this scenario with 34% of the country population that have no sources of livelihood.

Amongst the government job creation schemes is the Empowerment programs, Graduates internship,Agricultural support program, Loan facilities from CBN,BOI,DBN to support MSMEs and others. 

Nonetheless,  economist and political economist alike have identify  this gesture of government toward job creation. As not sustainable enough,especially as majority of the job creation policies are not broad base but just temporary schemes and cosmetic. Regrettably, due to puacity of job creation initiatives by the government. 

Several related economic challenges sprung up in the country. Leading to deteriorating microeconomic trends across the country. Howbeit, when job are created the economic would be better off,impacting positively on the microeconomic tremendously.

Unfortunately, the argument that government alone cannot create jobs for the citizenry. Even though the Nigerian state and its agencies have always claimed of providing the enabling environment for the Organised Private Sector(OPSs) to ensure job creations.

Arguably, also it is the believe that the Organised Private Sector (OPSs) are the engine room for job creation.

Chiefly, this  argument has been stressed over time,eventfully and boldly.

Expressly, what cannot be overemphasis is that boths the government and OPSs have significants and complimentary roles in job creation. Especially as job creation is a vital pillars in economic production cycle. And critically,the economic spotlight of government and OPSs policy  decision and actions is tied practically to job creation.

What then is to be done?

Consequently, is to urged the Nigerian government to see job creation beyond giving cash hand out.But take delibrate pragmatic measures to accelerate the country’s economic growth through job creation.This will however,be achieved by tackling economic structural deficits afore discussed. 

Another, is to see job creation as an apt exercise that would be corresponding to reduced related economic challenges facing the country presently.Succintly, job creation is a determinate to a share prosperity, safe, secure law-abiding nation.

In addition,  we must recalibrate our national education curriculum toward technical field. This alone can facilitate renew innovation in science, and technology that developed nations have use to sustain the growth there economy enjoyed.

Lastly, for us government and the OPSs must work toward job creation target economic growth.In this wise job creation linkages to industrialization to stop import dependency of the nation.

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