The Nigerian Economic Summit Group (NESG) has warned that Nigeria must create 27 million formal jobs by 2030 to prevent a worsening unemployment crisis. The group said this means generating about 4.5 million jobs yearly as the nation’s working-age population expands to 168 million within the decade.
NESG Report Urges Urgent Job Creation and Productivity Reforms
In its new report, “From Hustle to Decent Work: Unlocking Jobs and Productivity for Economic Transformation in Nigeria,” launched at the 31st Nigerian Economic Summit (NES #31) in Abuja, NESG called for a coordinated national effort to tackle unemployment and drive economic transformation.
The group warned that without decisive action, unemployment and underemployment could double by 2030, trapping millions in low-paying, insecure, and unproductive jobs. It urged Nigeria to transition from a “hustle economy” dominated by informal work to one driven by decent and productive employment.
“Nigeria Must Embed Reforms That Drive Jobs and Growth” — NESG Chairman
NESG Chairman, Mr. Niyi Yusuf, stressed that Nigeria’s next reform phase must focus on job creation, productivity, and inclusive growth.
“The challenge before us is to move decisively into the consolidation phase, embedding reforms that drive jobs, growth, and inclusion while securing long-term prosperity for every Nigerian,” Yusuf said.
He noted that while past policies focused on macroeconomic stabilization, it is now time to translate reforms into real jobs and better living standards.
Jobs Crisis Now a Major Development Challenge — NESG Economist
Presenting the report, Dr. Wilson Erumebor, NESG Senior Economist, said Nigeria’s jobs crisis has become a national development challenge, not just a labour issue.
“Without decisive reforms to create decent and productive jobs, an entire generation risks being trapped in vulnerable work,” he said.
Erumebor explained that weak private sector capacity and reliance on government employment have pushed millions into the informal sector, now the country’s largest employer.
He revealed that informal jobs accounted for 93 percent of total employment in mid-2024, up from 92.2 percent in 2023. “This trend is alarming,” he said, “and reflects limited investment in sectors that can deliver quality jobs at scale.”
Informal Sector Dominates in Most States
The report found that in over 18 Nigerian states, informal employment makes up more than 94 percent of total jobs. States such as Kebbi, Abia, Benue, and Borno recorded some of the highest levels, ranging from 97 to 98 percent.
Erumebor warned that this widespread informality limits productivity, reduces tax revenues, and leaves workers without social protection or job security.
“Workers in the informal economy often lack pensions, healthcare, and legal rights, making them vulnerable to economic shocks,” he added.
NESG Introduces Nigeria Works Framework for Job and Productivity Growth
To address these challenges, the NESG launched the Nigeria Works Framework, a blueprint to promote productivity, enterprise, and inclusive growth.
The framework includes a Jobs and Productivity Agenda focusing on:
- Skill development and training for productivity
- Growth in key economic sectors
- Support for small businesses
- Upgrading informal work systems
- Data-driven planning and institutional reform
Erumebor said NESG envisions “a Nigeria where productivity becomes the key measure of national prosperity.”
Key Sectors for Job Creation Identified
The report highlighted manufacturing, construction, ICT, and professional services as sectors with the highest potential for large-scale job creation. It stressed that investing in these areas will boost industrialization, innovation, and youth employment.
NESG Calls for National Unity on Job Creation
The NESG urged federal and state governments and the private sector to treat job creation as a national priority.
“The scale of the challenge demands bold, coordinated action,” the report stated. “Nigeria must adopt a productivity-led growth strategy that expands decent work opportunities and leaves no citizen behind.”
The group reaffirmed its commitment to supporting practical policies that link economic growth with real employment outcomes.
Conclusion: Productivity and Job Creation Key to Nigeria’s Future
With Nigeria’s population projected to reach 275 million by 2030, the NESG stressed that creating 27 million new jobs is vital to stabilise unemployment.
“Productivity must become the central focus of national planning,” the report concluded.
