By Benson Daniel
The Nigerian Economic Summit Group has called on the Federal Government to create at least three million jobs annually as part of efforts to address rising unemployment and ensure that economic growth translates into improved living standards for Nigerians.
The group said Nigeria’s economic growth must become more job intensive, warning that an expansion in output without sufficient employment opportunities could limit the benefits of ongoing economic reforms.
The call comes amid concerns over the country’s rapidly growing working age population and the increasing number of young Nigerians entering the labour market each year.
The NESG stressed the need for policymakers to focus on sectors capable of generating large numbers of productive jobs while improving the conditions required for businesses to expand and employ more workers.
It also highlighted the importance of private sector investment, stronger infrastructure, access to finance and policies that encourage businesses to increase production and expand their workforce.
According to the group, Nigeria cannot rely solely on headline economic growth figures to measure progress. The quality of growth and its ability to create sustainable employment opportunities should remain central to economic policymaking.
The organisation called for greater attention to sectors with strong job creation potential, including agriculture, manufacturing, construction, technology and services.
It also urged the government to strengthen support for micro, small and medium enterprises, which account for a significant share of economic activity and provide livelihoods for millions of Nigerians.
The NESG said policies aimed at improving the business environment would be critical to encouraging private investment and enabling companies to create more employment opportunities.
It further stressed the importance of equipping young Nigerians with relevant skills that match the demands of the modern economy, particularly in technology, manufacturing and other emerging sectors.
The group’s position comes as the government continues to implement economic reforms aimed at improving macroeconomic stability, attracting investment and strengthening productive capacity.
While recent economic indicators have shown improvements in growth, concerns remain over the extent to which the recovery is translating into better household incomes and employment opportunities.
The NESG therefore urged policymakers to pursue growth strategies that are inclusive and capable of generating broad based economic opportunities.
It said sustained job creation would not only improve household incomes but also strengthen consumer demand, reduce vulnerability among young people and support long term economic stability.
The group’s recommendation reinforces the need for stronger collaboration between government and the private sector in developing policies capable of supporting investment, enterprise expansion and large scale employment generation.
With millions of young Nigerians expected to enter the labour market, the ability to create sufficient jobs annually is likely to remain one of the country’s most pressing economic priorities.
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