Boulevard of broken dreams
While many graduates have embraced starting a business of their own as the only way to defeat unemployment, the business environment in Nigeria and economic hardship have prevented their businesses from thriving. Infrastructural deficit like lack of electricity is one of the major constraints to thriving businesses in Nigeria. According to a 2020 World Bank report, 47% of Nigerians do not have access to grid electricity, and those who have access, face regular power cuts. It also cited that the economic cost of power shortages in Nigeria is estimated at around $28 billion. Businesses have to always factor in the impact of power losses and rely on fuel-powered generators. Like Ade, millions of people do not have access to start-up capitals and do not even have the required information to attract credit facilities from financial institutions. These have left many intending businessmen and women stranded and frustrated.
Ade might still count himself lucky, unlike Alex who did not even have the opportunity to see the four walls of a tertiary institution. Alex grew up in the poor suburb section of Lagos picking damaged items from dumpsites. At 18, Alex already had a burning desire to fix broken things ranging from electrical to mechanical appliances. His parents barely managed to send him through secondary school. With no money for university, Alex is faced with no other option than to make a living for himself by any means necessary. His talent for fixing broken items has also made him more curious about computers and this ultimately led to him engaging in internet fraud popularly known as ‘yahoo yahoo’ in Nigeria. Most of these internet fraudsters like Alex, use their gains to support their whole family, including putting several siblings through university, so they have a chance at a better life. This is not an endorsement of internet fraud in any way; even people like Alex do not feel great about what they do but always claim there are no other options available.
There was a scenario at the bar recently, where a group of friends was watching a football match with some friends. During the halftime commercials, there was this popular Glo advert that popped up featuring ‘Don Jazzy’ a popular Nigerian music producer, and Anthony Joshua (AJ); a British Nigerian professional boxer. During the commercial, a young man was heard among his friends saying “if to say AJ been no commot Naija, e no for be this kind successful boxer wey he be”. What this man was trying to imply is that AJ wouldn’t have been a successful boxer if he hadn’t left the shores of Nigeria. While that is debatable, the central focus is on the reason behind this claim. There are millions of Nigerian youths who have had their dreams, aspirations, or even lives cut short due to infrastructural deficiency and lack of opportunities.
A Nigerian youth most likely would not be able to achieve his or her highest potential while residing in Nigeria. These thoughts are not far-fetched especially when you look at the rate of unemployment among youths in Nigeria which has risen from up from 29.7% in Q3 of 2018 to 34.9% in Q2 of 2020. The rising youths’ unemployment rate is a hindrance in propelling the nation's socio-economic development and also a barrier for the youths in reaching their highest potential. With the recent insecurity in the country, it is imperative that all hands need to be on deck to tackle the menace of youth unemployment and underemployment. More proactive measures need to be put in place to ensure the youths take their place as catalysts for national development. Project Nigeria is an all-hands initiative.
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