Rethinking ways to address youth unemployment in Nigeria

In a bid to tackle Nigeria's persistent challenge of youth unemployment, Enterprise Nigeria is advocating for a radical and comprehensive approach to address the issue. Obi Ibekwe, the CEO of Enterprise Nigeria, joined CNBC Africa to discuss the critical interventions needed to combat youth unemployment in the country. Nigeria's high youth population coupled with a soaring youth unemployment rate has created a pressing need for innovative solutions. Despite various initiatives from both the public and private sectors, the needle has not moved significantly in addressing the problem. Expert advice calls for out-of-the-box thinking and a fresh perspective to drive the necessary change. Enterprise Nigeria has honed in on the root of the issue by focusing on graduates lacking essential employability skills necessary for a seamless transition to the workplace. The organization is advocating for the growth and fortification of the financial and professional services sector. Recognizing that a competent workforce is crucial for sectoral growth, Enterprise Nigeria has launched a youth internship program aimed at equipping graduates with vital soft and digital skills. These skills, including problem-solving, critical thinking, and time management, are essential for success in today's workplace. Another key challenge addressed by the program is the lack of information and guidance for youths in making career decisions and securing job opportunities. Industry experts affiliated with Enterprise Nigeria are poised to mentor and connect program participants with high-value internship opportunities. To democratize access to these opportunities, Enterprise Nigeria has designed a user-friendly technology platform for easy reach across Nigeria. In acknowledging the evolving workplace dynamics influenced by the changing needs and behaviors of today's young employees, Enterprise Nigeria's program emphasizes the importance of meeting midway. It involves educating youths on workplace dynamics while urging organizations to adapt their systems to accommodate the emerging workforce. Scaling up interventions is crucial given the enormity of Nigeria's youth unemployment crisis. Enterprise Nigeria aims to expand its reach from training 5,000 youths annually to a more ambitious target of 100,000 annually. By fostering industry-wide collaboration, Enterprise Nigeria believes a collective effort is essential to drive impactful solutions and move the dial on youth unemployment numbers. The early outcomes of Enterprise Nigeria's initiatives have been promising, with over 1,000 applications received on the launch day alone. The overwhelming response underscores the urgency and magnitude of the youth unemployment challenge in Nigeria, affirming the need for concerted efforts and innovative strategies to effect lasting change. As Nigeria grapples with the complexities of youth unemployment, Enterprise Nigeria's proactive approach serves as a beacon of hope, offering a model for sustainable interventions that prioritize skills development, mentorship, and industry partnerships. The journey towards addressing Nigeria's youth unemployment challenge is ongoing, but with initiatives like Enterprise Nigeria leading the charge, there is optimism for a brighter future for the country's youth workforce.