How Nigeria’s Population Contributes To The Economic Crisis And Unemployment


To tackle the ongoing economic crisis in Nigeria, some things need to be restructured. In the early days of education in Nigeria, going to school and graduating was a huge achievement as it came with pride and a prize in one of those mouth-watering jobs in Nigeria.

Back then, parents sweat their hoes and cutlasses tilling farms to train their children through school, knowing fully well that some big companies and/or the government will secure jobs for their children. Also, students worked twice as hard as their mates so as to come out tops in class, but today the story is entirely different.

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Going through the university to earn a Bachelor’s Degree, Master’s Degree and even a doctorate is no longer a pre-requisite to securing a good job in Nigeria.

Instant employment, sponsorship for those who want to further their education, special preferences for A-list students and all that once came with being a graduate has been drowned in the ocean of millions of Nigerians who graduate every year.

Economic Crisis – Remedy

Economic Crisis

The problem though is not the number of graduates in the country, we pray to have more of them, it is the number of people in the country in relation to the number of means to carter for them. The major concern is that the economic situation of Nigeria is not conducive enough for these graduates to survive in.

Although, it is not the case for a few Nigerians, whose parents are well-connected, but like earlier mentioned, they are just but A FEW.

According to the Nigerian Bureau of Statistics (NBS), the country’s unemployment rate increased to 9.9 percent in the third quarter of 2015, representing a fourth consecutive rise in the unemployment rate since the third quarter of 2014.

In 2016, the number must have increased significantly, considering the once employed individuals who have lost their jobs in a Nigeria undergoing an insane recession.

Let’s get more statistical; In 2013, Nigeria’s population was estimated at 173.6 million and it was distributed as follows:

Population Percentage Male Female
1. 0-14 years 43.2% 39,151,304 37,353,737)
2. 15-24 years 19.3% 17,486,117 16,732,533
3. 25-54 years 30.5% 27,697,644 26,285,816
4. 55-64 years 3.9% 3,393,631 3,571,301
5. 65 years + 3.1% 2,621,845 2,861,826

Out of these age ranges: age range 1, 2, and 5 are mostly unemployed and depend on 3 and 4 for survival. According to the Central Bank of Nigeria (CBN) official, 80% of Nigerian youths (3 and 4) are unemployed, therefore only 20% of the population have jobs.

So the question is how can Nigeria’s under-capable population resolve the economic crisis? How can someone who weighs 20kg carry someone who weighs 80kg?