Why FG, States, others must stem tide of unemployment now – Osita Ngwu

The Minority Whip of the Senate, Sen. Osita Ngwu has raised an alarm on the rising rate of unemployment in the country, calling on the federal government, state governments, and the private sector to take bold and decisive action to stem the tide.

Ngwu in a statement made available to newsmen Friday in Abuja, said he was compelled to sound the alarm because the situation is dire, hence it’s imperative that immediate action is taken to mitigate the effects and build a brighter future for all Nigerians.

He lamented the number of graduates produced each year by various universities exceeds the jobs created annually, resulting in a significant mismatch between the supply of graduates and the demand for labor.

The lawmaker commending President Bola Tinubu’s initiatives to remodel Nigeria’s economy, with a focus on job creation, food security, and poverty alleviation, He opined that a declaration of a state of emergency on unemployment will fast-track these initiatives, which are crucial in addressing the alarming unemployment rate in Nigeria.

Ngwu therefore disclosed that he will present a motion on the floor of the Senate calling on the Federal Government to declare a state of emergency on the unemployment rate in the country, assuring of the parliament’s support to the government in finding solutions to the crisis.

The Minority Whip said, “Unemployment in Nigeria has been one of the unfinished businesses of government since the second republic. Nigeria’s universities and polytechnics produce a staggering number of graduates each year. According to available data, these institutions admit around 2 million students and release approximately 600,000 graduates annually. This number has been consistent over the past decade, with around 134 recognized polytechnics and 174 universities in Nigeria contributing to this total. The stark reality is that this number far exceeds the jobs created annually, resulting in a significant mismatch between the supply of graduates and the demand for labor. This has led to a glut in unemployment amongst our youths.

“However, I am heartened by President Tinubu’s initiatives to remodel Nigeria’s economy, with a focus on job creation, food security, and poverty alleviation. The declaration of a state of emergency on unemployment will fast-track these initiatives, which are crucial in addressing the alarming unemployment rate in Nigeria. I firmly believe that this move will accelerate the creation of jobs, stimulate economic growth, and reduce poverty. To those who are already employed, I urge them to protect their jobs by being resourceful and dedicated to their work.

“In the coming days, I will present a motion on the floor of the Senate calling on the Federal Government to declare a state of emergency on the unemployment rate in Nigeria. This motion will be a crucial step towards addressing the unemployment crisis and ensuring that our youths have access to decent jobs and a brighter future. We must work together to address this crisis. Our youths are becoming very vulnerable as a result of unemployment. I call on the federal government, state governments, and the private sector to join forces in creating jobs and opportunities for Nigerians. We owe it to ourselves, our children, and the future of our great nation. Let us act now to mitigate the effects of unemployment and build a brighter future for all Nigerians.”