The mass departure of multinational corporations from Nigeria due to a challenging business environment has raised concerns about the worsening youth unemployment crisis. Despite a reported drop in the unemployment rate, a significant portion of young people remain jobless and lack essential skills.

Nigeria’s youthful population, with nearly 70% under 30, is seen as a potential economic driver. However, the reality is more complex, with a significant number of youths neither working, studying, nor undergoing training. The recent shutdown of 767 manufacturing companies and distress faced by 335 others due to economic difficulties has exacerbated the issue.

Experts warn that the consequences of the growing NEET (not in education, employment, or training) population are dire, including poverty, social exclusion, and mental health issues. The crisis is also gendered, with young women disproportionately affected.

To address the crisis, experts recommend reforming the education system, prioritizing job creation, expanding access to education and training, addressing gender disparities, and promoting entrepreneurship. They also stress the need for a multi-pronged approach involving government, the private sector, civil society, and international partners.