Driving Economic Growth Through Youth Empowerment in Nigeria
Nigeria boasts a significant advantage as it harbors one of the world's most sizable populations of young individuals. Among a population of over 200 million, 70% are under 30, bringing the population’s median age to 18, as per a publication by The Conversation. However, the youth in Nigeria grapples with formidable challenges in employment and skill development, posing significant hurdles to their aspirations and the nation's progress. The World Bank anticipated that a Nigerian born in 2020 would exhibit only 36% of their potential productivity in the future, given the assumption that they lacked complete access to education and healthcare. The limited opportunities for job creation and an environment non-conducive to entrepreneurship hinder the integration of the 3.5 million Nigerians joining the workforce annually.
High unemployment rates, underemployment, skills mismatches, limited access to education and training, and entrepreneurial challenges collectively define the landscape for many young Nigerians. However, the country is on a path to changing the narrative.
The Nigerian economy is projected to grow at an average of 3.4% from 2023 to 2025 due to reforms, agricultural and services sector recovery, and increased government development spending, as per the World Bank. Sustained reform efforts like consolidating fiscal and monetary policy, reducing insecurity, improving public services, and enhancing the business environment could drive investments and productivity, leading Nigeria back to high growth. While economic recovery is underway, empowering the youth to leverage opportunities will be crucial to sustain growth.
What is youth empowerment, and how is it the answer to economic growth in Nigeria?
Youth empowerment gives young people the tools and opportunities to enhance their skills and confidence, enabling them to contribute actively to society, the economy, and politics. Education, mentorship, and vocational training help young leaders build youth empowerment skills like critical thinking, problem-solving, communication, digital literacy, and an entrepreneurial mindset. The goal is to foster youth self-efficacy, meaningful engagement in their communities, participation in decision-making, higher employment, and engagement with social issues.
While the government has initiated various programs to accelerate the development of young people, youth empowerment in Nigeria remains a mixed picture. Despite successes, there is a pressing need for a more comprehensive and sustainable framework to empower the youth effectively.
Empowering the youth in Nigeria is not just a socio-economic imperative but a strategic investment in Nigeria's future prosperity. The country's demographic structure, with a large youth population, presents a demographic dividend that can propel economic progress.
What are the benefits of youth empowerment?
Economic growth and job creation: Youth who are empowered with better skills contribute to economic development through entrepreneurship, innovation, and a skilled workforce. They inject fresh perspectives and technological prowess into various sectors. These young innovators can create job opportunities for themselves or others by starting a business, facilitating local employment, and reducing unemployment rates.
Social development: Empowered youth are more likely to engage actively in community and social issues, fostering positive change and societal progress. The 2030 Sustainable Development Goals (SDGs) emphasize that young people can be a catalyst for development, but this is contingent on providing them with the necessary skills and opportunities to realize their potential, contribute to development, and actively promote peace and security.
Global competitiveness: A well-empowered youth population enhances a country's competitiveness and adaptability to evolving market trends on the global stage by fostering a dynamic and skilled workforce.
Leadership development: Youth empowerment nurtures leadership skills, preparing the next generation to take on leadership roles and contribute to effective governance.
Civic engagement: Empowered youth are more likely to actively participate in civic and political activities, contributing to a vibrant and participatory democracy.
Poverty reduction: By providing opportunities for skill development and economic empowerment, youth empowerment initiatives can reduce poverty and improve living standards.
Reduced social unrest and criminal activity: Empowering the youth fosters social stability, reducing the risk of social unrest and cultivating a sense of purpose and belonging. Better career paths and livelihoods also prevent young people from engaging in criminal activity.
Strategies for Effective Youth Empowerment in Nigeria
Enhance employment opportunities
Governments should encourage youth employment by adopting strategies like Nigeria's National Youth Service Corps (NYSC) program, which includes a mandatory national service with a job placement policy. This policy ensures that a percentage of program participants receive job offers upon completing their service year. This approach creates a direct link between education, national service, and employment, offering a model for other initiatives to follow in addressing youth unemployment and fostering a smoother transition from academia to the workforce.
Build business incubation and mentorship programs
Supporting young entrepreneurs and social changemakers to develop solutions and business models that positively impact their communities is a critical element of empowerment. These programs increase the chances of an individual’s entrepreneurial success by nurturing business skills like communication, design thinking, critical thinking, and innovation through workshops, tools, and resources. Venture-building initiatives also promote mentorship and networking opportunities that can help accelerate the next generation’s personal and professional development. Programs like the FuturizeU Incubator program in Africa launched in 2023 helped ten innovative businesses tackling healthcare challenges in the region develop their soft and hard skills, build a solid business model, and connect with potential investors to accelerate their growth.
Invest in technology
Governments should invest in digital infrastructure to bridge the digital divide, ensuring all schools have computer labs and supporting tech hubs. Increasing internet access and digital literacy can empower young people, fostering innovation and creating digital jobs. Learning about frontier technologies also helps young leaders understand their role in solving global development challenges.
Promote youth collaboration and network-building
Promoting inclusive opportunities for the youth to collaborate with diverse individuals is necessary to expose them to multiple perspectives crucial for addressing complex social problems. The Fuel Africa program, organized by Futurize, brings together youth from various backgrounds across the continent to participate in an innovation challenge, creating a rich tapestry of ideas and solutions to address global issues. Through intentional inclusivity, these programs empower youth, connect them to leadership and advocacy training, and facilitate cross-sector collaboration, resulting in a substantial pipeline of development solutions and a lasting network of engaged individuals committed to addressing sustainability challenges.
Examples of Youth Empowerment Programs in Nigeria
National Youth Service Corps (NYSC)
The NYSC is a mandatory one-year program for Nigerian graduates following their university education, initiated in 1973 under the Yakubu Gowon regime. The program fosters national unity by assigning at least 250,000 young graduates each year to various regions, where they work in government-owned institutions like schools, hospitals, and rural development centers. Corps members receive a monthly stipend of N30,000 during service, facilitating interaction with individuals from diverse cultural backgrounds. NYSC members drive rural development, constructing crucial infrastructure and mobilizing communities. The program fosters national unity, encourages self-reliance by promoting entrepreneurial skills, and offers real-world experience to participants, enhancing their practical knowledge and impact. It is the ideal incubator to prepare young Nigerians for the digital future of work.
Tony Elumelu Foundation Entrepreneurship Programme (TEF)
Founded in 2015 by the Tony Elumelu Foundation, TEF, a private-sector-led program, is dedicated to fostering entrepreneurship and driving economic development across Africa. Annually, the program meticulously selects 1,000 entrepreneurs who undergo a comprehensive 12-week training, paired with mentorship and seed capital of up to $5,000. TEF's overarching goal is to empower young entrepreneurs, providing them with the tools and support to translate their innovative ideas into successful, sustainable businesses. This initiative aims to create a million jobs and generate $10 billion in entrepreneurially driven wealth on the continent but also aligns with the foundation's broader mission to contribute significantly to the socio-economic transformation of Africa.
Futurize’s Fuel Africa Program
Fuel Africa, launched by Futurize, organizes entrepreneurship programs to reduce the skills deficit in the labor market by improving student employability. It brings together like-minded individuals, experts, and students from leading corporations and universities across Sub-Saharan Africa, fostering the creation of innovative solutions that can make UN SDGs a reality by 2030.
These innovation challenges help young leaders cultivate technical skills and soft skills like leadership, entrepreneurial thinking, effective teamwork, and managing remote teams. Intending to train 10,000 entrepreneurs by 2030, the program is expanding its reach and impact every year. Fuel Africa has trained over 2500 young Africans to build businesses and impactful solutions by providing hands-on training, collaborative exercises, and real-world problem-solving. Focusing on cultivating a diverse and collaborative community, Fuel Africa provides a platform for networking, mentorship, learning, and co-creation.
Youth Enterprise With Innovation in Nigeria (YouWiN!)
YouWiN! was founded in collaboration between Nigeria's Ministry of Finance, the Ministry of Communication Technology, and the Ministry of Youth Development with support from the Department for International Development (DFID) and the World Bank. The program aims to promote entrepreneurship and job creation among young people by providing seed capital, training, and mentorship to young entrepreneurs with innovative business ideas, supporting them in starting and growing their businesses. Financial support and additional resources are also provided to selected entrepreneurs, contributing to the growth of their ventures.
Conclusion
In conclusion, the challenges faced by Nigerian youth in employment and skill development are significant hurdles that require comprehensive and sustained efforts for resolution. Despite the economic growth projected through reforms and sector recovery, the demographic dividend presented by the large youth population remains untapped. Youth empowerment is a strategic imperative for sustainable economic growth, fostering innovation, global competitiveness, and social stability.
Are you looking to launch a program to empower young adults?
Futurize can foster collaborations between academic institutions, governments, corporations, and startups to help build entrepreneurship, innovation, and digital literacy programs. Get in touch with us at hello@futurize.studio!
