The Nigerian Economic Summit Group (NESG) has outlined six approaches under the Nigeria Works Framework, to improve Nigeria’s labour market cituation, even as it races to generate 4.55 million formal jobs yearly.
According to the NESG, the approach outlines the building blocks for Nigeria’s changing labour market. Hence, achieving this target requires significant economic reform and investment in labour-intensive sectors capable of absorbing the growing workforce.
Data from the National Bureau of Statistics (NBS) and the the World Bank, had pointed out, that in order to maintain the current unemployment rate of 4.3 percent, Nigeria therefore needs to create at least 4.55 million net formal jobs each year.