Some twenty six months ago, Nigeria was thrown into a dysphoria by the #EndSARS protest, which, unfortunately, culminated into violence and destruction of lives and property.
On a positive note, the protest presented an opportunity for government at all levels to appreciate what is perceived to be deep-seated discontent with the social and economic widening gap in the country.
Growing numbers of young people are frustrated by a lack of employment opportunities. Added to that, competition for jobs, land, natural resources and political patronage fuels violent conflict between groups.
This unrest is exacerbated by the growing impact of climate change on weather patterns, water and other resource availability, and agricultural productivity. Nigerian cities lack the resources to cope with the speed of their growth and are becoming increasingly dysfunctional and lawless.
Consequently, Nigeria stands on the threshold of what could be the greatest transformation in its history. According to a study by the British Council, by 2030, Nigeria will be one of the few countries in the world that has young workers in plentiful supply. Hence, youth, not oil, will be the country’s most valuable resource in the twenty-first century.
Nigeria stands on the fence to reap that substantial demographic dividend. And government at all levels must act now, to ensure that Nigeria does. If not, Nigeria may in the future see growing numbers of restless young people frustrated by lack of opportunity, increased competition for jobs, land, natural resources, and political patronage.
It is therefore pertinent that investment in people is substantially boosted.The federal government should set targets for increasing expenditure on education and health, using oil revenues to fund both infrastructure and recurrent spending, while ensuring that existing funds are spent more efficiently.
The priorities for education should be to develop skills that lead to employment through the expansion of vocational training and to tackle the gross inequalities in educational provision that threaten Nigeria’s integrity as a cohesive society.
Without remedial action, the crisis in the job market will worsen rapidly as growing numbers of young Nigerians enter the workforce.
According to a report by Harvard School of Public Health and the British Council, Nigeria needs to create about 25 million jobs over the next ten years if it is to offer work to new entrants, and halve current unemployment.
Also, Nigeria needs to develop the infrastructure that will underpin a progressive economy, spending substantially more on this task. The country should diversify away from oil, with an emphasis on sectors that will improve employment prospects for young people, while removing obstacles to economic growth and private enterprise.
The oil industry contributes considerably to the national GDP, but is highly capital-intensive and employs only a tiny fraction of the population. Other industries, still at inchoate stages, such as communications, manufacturing (textiles, clothing, and footwear; automobiles); and the mining of resources other than oil offer greater potential to Nigeria.
The federal government must tap into the energies of the next generation, releasing its innovative and entrepreneurial potential and ensuring that young people have better opportunities for political expression. It should also harness the potential of its diaspora to provide opportunities for the young and for new ideas, investments, and contacts.
With the right policies for the next generation, Nigeria’s aspiration to become an economic powerhouse and a cynosure of social stability is within reach.
The issues that accentuated the #EndSARS protest should not be re-echoed in the manner the world saw two years ago. Nigeria’s youths are yearning for a better future, and they deserve it.
But whether we experience a recurrence of the 2020 dysphoria or not will depend on how fast the government at all levels takes action to ensure that Nigeria’s youths are carried along in the country’s developmental process, as Nigeria’s single greatest asset is youth, not oil.
Over the next two decades, the choice between success and failure will rest on the government’s ability to harness the power of its youth population.
