Millions of Nigerians facing unemployment, low productivity – NESG

The Nigerian Economic Summit Group (NESG) has expressed worry over the high unemployment rates, low productivity, and limited economic opportunities that have left millions of Nigerians struggling, even as the nation pursues significant economic reforms. The organization highlighted these concerns ahead of the 32nd Nigerian Economic Summit (NES#32), set to take place on October 26 and 27, 2026, at the Transcorp Hilton Hotel in Abuja.

The summit, with the theme "Growth that Works: Delivering Jobs, Productivity and Shared Prosperity," brings together a diverse group of stakeholders to discuss how Nigeria can turn its economic reforms into tangible benefits for its citizens. The NESG pointed out that despite Nigeria's robust population, vast natural resources, entrepreneurial spirit, and youthful workforce, which are significant assets for economic growth, millions of its citizens continue to grapple with unemployment, low productivity, and limited opportunities.

To address these challenges, the summit will focus on five strategic dialogue tracks: "Work Nigeria," "Produce Nigeria," "Invest Nigeria," "Scale Nigeria," and "Secure Nigeria." The Work Nigeria track aims to create a job-rich economy by focusing on labor-intensive sectors, micro, small, and medium enterprises, workforce readiness, and labor market systems.

Produce Nigeria will explore ways to boost productivity through industrialization, innovation, investment promotion, digital transformation, and competitive value chains in key sectors such as agriculture, manufacturing, and services. Invest Nigeria will concentrate on human capital development, poverty alleviation, access to essential services, social protection, and building resilience among vulnerable groups.

Scale Nigeria will look at spreading economic growth more evenly across different regions, sectors, and communities by strengthening subnational competitiveness, regional value chains, infrastructure, and local investment coordination. Secure Nigeria will tackle the protection of critical economic assets, ensuring safe access to farmlands, securing infrastructure, restoring confidence in production zones, and creating a secure environment for investment and enterprise.

NESG emphasized that these discussions would be guided by three interconnected pillars: productivity, human capital, and resilience. The summit aims to produce actionable policy recommendations and foster a consensus on a new phase of Nigeria’s economic transformation. NESG also called for stronger collaboration among various stakeholders, including government, the private sector, development partners, academia, labor organizations, civil society, and young Nigerians, to devise practical solutions to the country’s economic challenges.

The Nigerian Economic Summit #32 is seen as a platform for evidence-based dialogue and strategic partnerships aimed at ensuring that Nigeria's economic growth translates into more jobs, higher incomes, greater productivity, and improved living standards for its citizens.