40 Million Young Nigerians Will Be Jobless By 2030 – World Bank

More 16.8 million Nigerians will be jobless in the next nine years if the government fail to turn the tides around.

This is the outcome of a virtual media roundtable to present and discuss the key findings of a new World Bank Report, ‘Good Jobs for a New Generation: Delivering Quality Jobs for Young Nigerians After COVID-19.’

The World Bank economist working on Poverty and Equity Global Practice, working in the Western and Central Africa, Jonathan Lain, said with 23.2 million Nigerians already without a job, the number will be about 40 million young Nigerians by 2030.

The multilateral lender said if the share of working population remains the same as in 2018 and 2019, 31 million young people aged 15-29 will need jobs in 2021.

The World Bank projections show that unemployment levels may grow worse than the 33.3 per cent or 23.2 million unemployed Nigerians published by the National Bureau of Statistics.

Lain, in his presentation said with wage employment, low and social security lacking, Nigerians cannot afford not to work.

The World Bank report showed that more than two third of Nigerians are under 30 and would need to create millions of jobs.

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