Today, Nigeria has about 90 million people who are willing and able to work, but about 70 million of them have no gainful employment. This is an alarming figure, but when the 4.7 million people captured in the formal sector in the latest statistics from the Pensions Commission is increased by the three to four times standard multiplier to capture those in the informal sector, it means that only about 20 million Nigerians have jobs, out of a population of 162 million.
So every day, millions of our unemployed brothers and sisters - including those entering the workforce for the first time and others who lost their jobs due to the incompetent management of our economy - anxiously scan the pages of newspapers and websites for job advertisements; less than 10 per cent of applicants will be successful, but at least three million more unemployed people will join them next year.
Why are unemployment and inflation rates rising while productivity continues to decline? Why have our vast resources not created massive employment opportunities for Nigerians? The most despairing aspect is the fact that the worst affected are Nigerians between the ages of 21 and 40 years - the future leaders of our country...
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El Rufai should keep quiet and remain on the queue till God knows abeg.He is another corrupt Nigerian that made lots of money in while he was the FCT minister during Obasanjos dispensation.
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