The World Bank has acknowledged Nigeria’s National Youth Service Corps (NYSC) as an essential asset in promoting industrial development, creating employment, and driving economic transformation. Ndiame Diop, the World Bank’s country director for Nigeria, emphasised the NYSC’s potential, calling it a “goldmine” that can enhance the nation’s labour force and better match it with the requirements of various industries. Diop envisions the NYSC preparing its 300,000 to 400,000 yearly graduates with essential employment skills to lower youth unemployment. He asserts that by offering training that is aligned with the demands of the job market, the NYSC could contribute to preparing young people for an Economy focused on industry.
Also, the World Bank is exploring methods to back this initiative and is dedicated to assisting in the nation’s economic transformation. Diop advocates for transitioning to skills-oriented training in the NYSC program to accomplish this goal, emphasising courses that meet current industry needs. He views this strategy as a tactical solution to combat the youth’s high Unemployment rates and facilitate the country’s evolution toward an industrialised economy. He believes these alterations would enhance the nation’s economic productivity, supplying the sector with a workforce of well-trained graduates prepared to satisfy market demands.
An estimated 15 to 17m children in Nigeria are currently out of school.
He voiced worry regarding the nation’s issues related to Education and nutrition, which are obstructing its growth prospects. He estimates that between 15 and 17 million children are not attending school, representing a major developmental hurdle. He emphasised that tackling this problem should begin with enrolling children in schools and providing them with the necessary support from a young age. He emphasised that academic reform must start with the foundational stage, which is crucial for children to thrive in their studies and careers.
Alongside education, Diop stressed the importance of addressing malnutrition. He pointed out the concerning rate of stunting, impacting more than 11 million children under five in the region. He noted that inadequate Nutrition creates obstacles to learning, hindering children’s growth and future contributions to the workforce. Diop advocates for a comprehensive strategy that includes improved nutrition, academic initiatives, and basic health interventions to overcome these developmental challenges. The World Bank is also dedicated to addressing the educational gender disparity, especially in science, technology, engineering, and mathematics (STEM) fields. Diop emphasises that enhancing young women’s participation in STEM is crucial for achieving digital transformation and promoting future technological advancements.
Diop urges Nigeria to invest reform savings in STEM and other sectors.
Currently, only 13 percent of females enrol in engineering programs, while polytechnic institutions report about 20 percent female enrollment. However, the organisation is launching programs to enhance girls’ involvement in STEM disciplines, especially Technology and engineering, to promote Gender Equality and strengthen the nation’s digital labour force. He recognised that while Nigeria is undertaking vital economic reforms, these changes are accompanied by considerable social consequences, notably rising inflation. He called on the government to channel the savings from these transformations back into essential areas like education, healthcare, infrastructure, and social Welfare to ensure that the citizens directly benefit from the rewards of policy reforms.
Moreover, Diop asserts that focusing on these areas will establish a foundation for enduring progress, particularly in education and healthcare, which are essential for long-lasting advancement. He observed that the region’s reform journey is both challenging and necessary. He applauded the nation’s efforts but emphasised addressing bottlenecks in essential areas like power, trade, and security, which continue to hamper economic progress. He asserts that overcoming these challenges is crucial for realising the region’s full economic potential. Diop further envisions a future where Nigeria, with its entrepreneurial spirit and dynamic private sector, can leverage its resources to achieve substantial growth and create more employment opportunities.
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According to him, they are prepared to assist the nation during this transition, focusing on ensuring that economic strategies and reforms bring real benefits to the lives of its people. Diop is confident that Nigeria can achieve its development objectives by cultivating a robust partnership between the public and private sectors and executing effective policies. On the other hand, his perspective underscores a clear pathway for local economic development. By leveraging the NYSC’s ability to provide graduates with essential skills for the workforce, emphasising education and nutrition for youth, and tackling economic challenges, Nigeria has a promising foundation for sustainable growth and job creation.