Entrepreneurship as a Solution to Unemployment in Nigeria.
Unemployment in Nigeria has become an epidemic, eating the very roots of economic development in the country Nigeria.
According to the National bureau of statistics, out of a total active labour force of 85.08 million, about 16 million people were unemployed in the third quarter of 2017. The report says the category of unemployed persons comprised 8.5 million people who engaged in an economic activity for at least an hour and 7.5 million people who did absolutely nothing.
This is the recent statistics of a country whose youths spend most of their lives schooling.
An average Nigerian youth spends about 20 years of their life time schooling and learning impractical knowledge that most times hardly used in real life situations. 3 years is allotted to the Nursery, 6 years for primary, six years in secondary and another 4-6 years in the tertiary institutions. This said youth graduates from the University and spends another year serving her country, only to finish the service year without being able to secure a job.
In recent times, I have seen this trend continue which is why I have been an advocate for skills acquisition: life hacks, hands on skills and business skills.
The idea of entrepreneurship and small scale businesses is one that helps the economy of any country to thrive. It implies creating solutions to problems and turning it to marketable value in exchange for money.
It isn’t just enough to sit and whine about what the government should do or should not do but to carve a niche for oneself especially as a youth.
I believe that where there are problems, abound more solutions. All you need do is satisfy a need by creating solutions to problems and packaging that solution into a product that can be sold in the market.
In the end, it will only do us more profit if we learn skills and create business empires out of them.