Former Kaduna Senator, Shehu Sani has revealed what he believes unemployment has forced many Nigerian youths into.
Sani in a short tweet on his official Twitter handle on Monday, argued that employment in the country has forced many youths to pursue masters and doctorate degrees.
He wrote, “Unemployment has forced so many youths to pursue masters and Doctorate degrees. Happy #MayDay2023.”
https://twitter.com/ShehuSani/status/1652979307386470400?t=00GwUFE_BE7WZyyfE8oGvg&s=19
Shehu Sani stated this in commemoration of Nigeria’s Workers’ Day.
Workers’ Day is celebrated annually on May 1.
The Nigerian Economic Summit Group (NESG) early in January this year, projected that the country’s unemployment rate will hit 37 per cent in 2023.
The group in its 2023 Macroeconomic Outlook report titled “Nigeria in Transition: Recipes for Shared Prosperity, said the country’s poverty headcount will also rise to 45 per cent.
According to the report, due to weak performance in the job-elastic sectors, and low labour absorption of sectors that will drive growth, the nation’s population growth estimated at 3.2 per cent will lead to a decline in real per capita income.
Furthermore, KPMG in April this year, stated that the Nigerian unemployment rate had increased to 37.7per cent in 2022 and will further rise to 40.6per cent, due to the continuing inflow of job seekers into the job market.
The multinational consulting firm, in its released report tagged ‘KPMG Global Economy Outlook report, H1 2023,’ said unemployment will continue to be a challenge due to the slower-than-required economic growth and the inability of the economy to absorb the 4-5 million new entrants into the Nigerian job market every year.
In other news, Kanyi Daily reported that the presidency has released a 90-page fact sheet which highlights the high points of President Muhammadu Buhari-led government.
This is as the government winds down on May 29.
