Unarguably, Nigerian youths are facing perhaps the toughest time in the country’s history, but the perilous economic situation may yet be an opportunity to harness the potential of this segment of the population for socio-economic development.
According to the World Bank, stagnant labour incomes have pushed an estimated 14 million more Nigerians into poverty in 2024 amid increasing inflation figures, high unemployment and dwindling economic activities.
The World Bank report titled “Macro poverty outlook: country-by-country analysis and projections for the developing world” revealed that nearly 47 per cent of Nigerians now live below the international poverty line of $2.15 per day as economic pressures and rapid population growth further strain the nation’s resources.
The Nigerian government, in response to the growing poverty rate, launched cash assistance programmes aimed at 15 million households. Each household is slated to receive N75,000 across three instalments, reaching approximately 67 million individuals. However, this appears to be a knee-jerk response to a more profound crisis caused by governments over the years amid rising tariff imposition on already overburdened citizens.
The situation looks even bleaker. The World Bank projects poverty to reach 52 per cent by 2026 if economic reforms are not intensified to protect vulnerable Nigerians from inflation and create more productive job opportunities. This unwholesome situation is hardest on the country’s youth, who are becoming more disillusioned and fast losing hope of the economy’s revival.
Nigeria, with an estimated population of about 220 million, is said to have the largest population of youth in the world, with a median age of 18.1 years. About 70 per cent of Nigeria’s population is under 30, and 42 per cent is under 15. Despite these challenges, there are also opportunities.
The social and economic situation has led to an unprecedented high migration rate to other countries in what is known as the “Japa syndrome” (the Yoruba word for escape). It has also led to many young people embracing crime such as armed robbery, banditry, kidnapping, terrorism, internet fraud (yahoo yahoo) and prostitution.
There is also a far more dangerous phenomenon among the youth, some of whom now engage themselves in ritual killings for quick monetary gains using severed body parts and other perilous occultist practices.
However, we believe that irrespective of the crises facing the youth, Nigeria’s growing youth population can be an advantage, and with better data and a policy focused on young people, this ugly situation can be reversed.
Nigeria’s dire situation combines weak macroeconomic fundamentals and deep-seated structural constraints. Still, when done correctly, urgent reforms can protect the poorest against inflation and boost livelihoods through increased productivity.
Unemployment is a disturbing factor among the youth. Still, even among those employed, the grim reality is that nominal earnings have drastically lagged behind the surging inflation rates, rendering their pay insufficient to improve living standards.
The World Bank report said further that about 34.3 per cent of Nigerian workers aged 15 and older are working poor, living below the poverty line despite being employed, and workers in Nigeria are trapped in poverty due to low-skilled and low-wage jobs.
At all levels, we suggest that the government consciously engage the youth in meaningful socioeconomic activities to help bolster the dwindling Nigerian economy. This can be done by investing in multiple sectors and attracting high-skilled workers in areas such as agriculture, mines, and the digital economy.
The vast land of the country should be opened for massive investment in agriculture using the latest technology such as mechanized farming on a large scale.
An example of this is being demonstrated by the National Agency for Science and Engineering Infrastructure (NASENI), which has started to practice soilless farming through the Agricultural Machinery and Equipment Development Institute (AMEDI) in Lafia, Nasarawa state, in North-central Nigeria.
AMEDI’s soilless planting involved the application of a maple trough used for the production of bell peppers, tomatoes, and cucumbers, a grow bag for the production of bell peppers, tomatoes, carrots, spring onions, and many others.
This is a modern system that runs on a 24-hour solar system for the production of orange flesh sweet potato vines, a nutrient film technique that equally runs on a power supply for the growth of lettuce, and a deep-water culture system chiefly devised for the production of lettuce.
With its sophisticated greenhouse facilities, AMEDI Lafia can produce 250kg of tomatoes, 80kg of cucumbers, 100kg of bell peppers, 50kg of habanero peppers, and 50 kg of lettuce daily. Ten kg of carrots and spring onions are also being produced, but they are just being examined before larger-scale production.
When this is replicated across the country, many more youth will be engaged in food production, guaranteeing food security in the country and keeping the youth employed.
