The unemployment rate is one of Nigeria’s biggest challenges. As the country’s population increasingly outpace the output, the number of jobseekers continues to increase. According to the World Bank, the growth in the unemployment rate has witnessed an acute surge since the start of the recession that ravaged the 2015-2016 economy. The impact of Covid-19 pandemic and now, the global tension catalyzed by the Russia-Ukraine conflict has further worsened the economic recession, leading to more unemployment.
Current Buhari-led administration has been consistently criticized for its inability to salvage the growing unemployment rate as promised during their electoral campaign. This socioeconomic dilemma has led to numerous attempts of youths committing crimes. In fact, statistics indicate that there has been a consistent rise in the yearly rate of joblessness in the country and why there have been many indications of the causes of unemployment, the effects on people have been equally draining. The Nigerian Bureau of Statistics also pointed out that the rate of unemployment in the country had been on a steady incline.
Employment opportunities to include direct and indirect jobs.
Nigerian Government and numerous private sector investors have enacted policies that curb the growth of unemployment in the country. Aliko Dangote, Africa’s richest industrialist expressed his confidence that his latest multi-billion-naira investment plan in the sugar sub-sector, by providing 300,000 jobs, would help immensely in curbing the unemployment rate in the country. A statement from the company’s corporate department pointed to Dangote’s plans to provide fresh funds and expand his company’s operations in the sugar industry.
Aliko Dangote, during his speech at the flag-off ceremony of the 2022/2023 Crushing Season and Outgrower Scheme Awards, noted that these employment opportunities would include the creation of direct and indirect jobs. He stated that his company was making immense investments in Adamawa State by expanding DSR Norman’s sugar refining capacity from 3000tcd to 6000, 9000 and 15,000 tons respectively. He stated that this expansion will see to the creation of numerous jobs which will also have a significant impact on the economy.
Dangote Group considered Nigeria’s largest employer of labour.
Outside the public sector, The Dangote Group has been considered Nigeria’s largest employer of labour. In fact, Dangote in 2010, was appointed the Chairman of the National Job Creation Committee, a committee established to aid the Federal Government to improve the provision of employment across the country. Adeniyi Adebayo, the Minister of Industry, Trade and Investment indicated that the Dangote Sugar Refinery was a big improvement in the Federal Government’s efforts at developing the sugar industry in the country.
With the advent of this investment, the country is expected to benefit significantly. Economically, the creation of these jobs would enhance Nigeria’s economic growth and also improve the standard of living of most citizens in the country. Asides this, these job creation opportunities are also envisaged to unequivocally reduce the rate of crimes across the country. Research have shown unemployment has been a major drive of crimes among youths and thus, by curbing unemployment, the crime rate automatically decreases.
Refinery also projected to create 250,000 jobs next year.
Similarly, The Dangote Refinery and Petrochemical, which is predicted to be completed and launched over the next year, is projected to further create approximately 250,000 job opportunities in the country. The Minister of Industry, Trade and Investments however commended the efforts of Aliko Dangote at improving Nigeria’s economy and supporting the country with his corporate social responsibility scheme. With these developments, the country is expected to experience a significant social and economic growth.
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