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Still On Youth Unemployment In Nigeria (1)

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Youth unemployment in Nigeria has become one of
the most serious socio-economic problems confronting the country. The magnitude of this problem can be appreciated if an accurate data on the number of jobless young people roaming the streets of Nigerian cities, towns and villages is available. Unfortunately, accurate statistics on youth unemployment are lacking. Nevertheless, estimates by the International Labour Organisation (ILO 1999) in Sub-Saharan Africa show that unemployment affects between 15-20 per cent of the work force, and out of these estimates, young people comprise 40 to 75 percent of the total number of the unemployed.
Unemployment has affected youths in Nigeria from a broad spectrum of socio-economic groups. Both the well and less educated are affected, but more especially those with low income backgrounds and limited education. Given the lack of employment opportunities and consequently uncertain future, young Nigerians are forced to engage in unorthodox sources of livelihood  while others engage in casual work which highlights the causes of youth unemployment problem and the effectiveness of the response. It also surveys the future of Nigerian youth.
An indepth analysis of the jurisdiction of unemployment in Nigeria will reveal with crystal clarity that unemployment is a multi dimensional phenomenon that has successfully defied precise solution by successive governments. A brief insight into the historical fact will support this assertion.
According to the Central Bank of Nigeria, unemployment rate rose from 4.3 per cent in 1970 to 6.4 per cent in 1980. The increase noted in the 1980 statistics was attributed to the depression in the Nigerian economy of the late 1970s. Between this period and 1986, the rate of unemployment fluctuated around 6.0 per cent. The implementation of the Structural Adjustment Programme (SAP) in 1986, led to a decline in unemployment rate from 7.1 per cent in 1987 to as low as 1.8 per cent in 1995. Between 1986 and 2000, it fluctuated between 3.4 per cent and 4.7 per cent.
Current information from the CIA World reveal that unemployment rate in 2003 stood at 28 per cent while a great decline was noticed in 2006 (2.9 per cent). From 2008 to this present day, the country has enjoyed a relatively stable rate of 4.9 per cent. Different facts from the National Bureau of Statistics reveal that during 2000 and 2008, the unemployment rate fluctuated between 13 per cent and 14 per cent. As at 2009, the national rate of unemployment stood at 19-17 per cent. These statistics may, however, not be definite as stakeholders have continuously reiterated that the practical reality of unemployment is higher than what statistics suggest.
Without deliberately under estimating the influence of other factors, the principal causes of unemployment are legion. Bad leadership encapsulates  quite a sufficient parameter, ranging from corruption and its endemic effects, have no doubt greatly impacted positively the rate of unemployment. Many government functionaries in purporting to carry out their duties divert huge sums of money to their personal accounts; some inflate the true naira value of contracts in order to conveniently secure their own share of the national cake. In essence, resources which should be deployed towards the creation of more job opportunities for the mass unemployed are mismanaged and embezzled.
Lack of visionary leadership is also a convenient cause. The perfect example is the Nigerian experience in the agricultural sector. No sane man would doubt the innate ability of the sector to provide mass employment opportunities for the teeming Nigerian populace.
Unfortunately, and in most pathetic manner, Nigeria has in recent times not had true leaders who would bring this vision home to the people by translating it into practical reality. All they do is paper work which at the end has little or no practical utility. Successive governments in Nigeria have failed to successfully ultilise the enormous potentials wasting away in the agricultural sector.
Another fallout from the problem of bad leadership is the failure of successive governments in Nigeria to find a lasting solution to the problem of erratic power supply. The percentage of budget spending  allocated for that purpose in successive years now seem unquantifiable with little or no improvement. Any attempt at showing the huge funds pumped yearly into the resuscitation of that area of the Nigerian economy will reveal that it is totally infra dig for a country like ours to be this deep down the fathomless pit of darkness. Without sounding cynical, perhaps a few of these governments have performed fairly. The consequences of the erratic power supply include the comatose state of the manufacturing sub-sector. Hundreds of factories that hitherto provided employment to graduates and artisans alike have folded up (Kudos must, however, be given to the recent efforts of the present government at bailing out the textile industry, amongst others). The few surviving ones are at the mercy of generating sets (and fuel) and the resultant high cost of production.
Masi is of the Linguistics and Communications Department of the University of Port Harcourt, Choba.

Another important cause of unemployment in Nigeria is the inefficiency and ineffectiveness of the Nigerian educational system to produce graduate possessing all- round abilities. Majority of graduates in Nigeria have not developed their own skill. All they have are the certificates – nothing more. In plain language, most of these graduates are half-baked and ill-prepared for the challenges facing the nation. They have nothing substantial to add-nly to maintain the status quo. Educational institutions have failed alarmingly to produce graudates that are designed to meet the needs (not just vacancies in terms of job opportunities) of the Nigerian economy. Most of them never desire to be independent or self-employed  or at least create an item of value. Their dreams are mostly about getting juicy jobs with Shell, Total etc. Dearth of skill acquisition and ultilisation in the present crop of graduates is perhaps occasioned by a deficient curriculum. This has sometimes resulted in companies reserving vacancies for Nigerians with overseas qualifications.
Sometimes, the absence of sufficient imformation creates the status of being unemployed for some Nigerians. Admittedly, this would not always be so in the face of the numerous applications received in almost all advertised vacancies. Recession in the economy is another cause of unemployment. Recession leads to many companies winding up, restructuring, streamlining and consequently, disengaging workers.
The high rate of unemployment in Nigeria has negative social and economic implications on so many aspects of the life of an average Nigerian. First and foremost is the fact that unemployment leads to unnecessary waste of resources and less productivity. Brain drain and loss of purchasing power are also important effects of the high rate of unemployment in Nigeria. The Nigerian economy is losing some of the best brains available to other countries. Graduates with good and outstanding skills, after walking the streets looking for jobs, take on the journey for greener pastures abroad many of our youths now take to riding commercial motorcycles while others make do with street hawking to keep body and soul together. The economic cost of unemployment are not limited to be above. Unemployment leads to a gap between the actual Gross National Product (GNP) and the potential Gross National Product. This is known as the GNP gap – indicating a vast waste of resources and an inability to maximize the utility of both human and natural resources.
The social costs of unemployment in Nigeria include increased cyclical poverty. Personal hardships, decay of unused skills, depression, increase in self – desertification leading to an increase in crime rate as well as increase in the number of broken marriage.
A sad development occasioned by the rate of unemployment in Nigeria is the now common swindling of these poor job seekers. Private firms in purporting to help these poor job seekers to secure employment collect different sums of money from these applicants (such as application fee, registration fee, blue chip fee, amongst others). Most of these firms are only concerned about the money; at the end of the whole exercise, most of the applicants are still without a job. Even the public sector is not absolved from this ‘profitable’ venture. The not-too-long—ago recruitment exercise by the National Drug Law Enforcement Agency (NDLEA) reportedly raked in about 750million Naira for the Agency. The NDLEA recruitment was fraught with incomplete information (for instance, there was no information on the requirement of presentation of NYSC discharge certificate as a condition precedent to sitting for the test), which led to a waste of resources by a large percentage of these job seekers. The National Social Insurance Trust Fund is also recruiting, collecting at last a thousand Naira (1,000.00) for each applicant.
The way forward for Nigeria to successfully tackle the high rate of unemployment rests first on the shoulders of our leaders. Nigerian leaders must show more than enough commitment to the creation of jobs and most especially the creation and sustenance of an economic environment that fosters self-development and self actualization. Nigerian leaders must revisit the resuscitation of the manufacturing sector and ensure that it is exhumed from the grave where it currently lies. A Total solution to the problem of erratic power supply would be of utmost importance in this regard.
The faster government moves in that direction, the better as we  have seen the concomitant effect of youth unemployment manifest itself in various forms across the country. Kidnapping armed robbery and even militancy in the Niger Delta  and to some extent, the Boko Haram menace could be identified as some of the negative outcome of unemployment.
The utilized potentials in the agricultural sector must be made use of to create the desired job opportunities for the teeming unemployed Nigerians will experience a new breath of life. The educational system also needs restructuring. The various curricula in our schools should include skill acquisition course, entrepreneurship and self development programmes, deliberate efforts need to be made towards ensuring that a new enterprise culture  is entrenched in the minds of our graduates and artisans alike. This will reduce the present craze for white collar jobs and reduce unemployment in Nigeria. It is then that Nigeria will be on the road to economic success.

Mabel Masi

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Opinion

Should The Internet Go Bust

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Quote:”. Whereas it sounds apocalyptic, yet experts have long warned that a total internet collapse, whether from cyberwarfare, global technical failure, or coordinated attacks on undersea cables, could paralyze the world far beyond imagination”
We now live in a world that so much relies on technology, especially on digital communication networks and data services. Virtually every aspect of our life depends on the efficient functioning of machines. In view of this reliance, imagine waking up to a world where the internet simply goes dark. For advanced countries where the functionality, monitoring and data storage of surveillance, security and nuclear installations, all rely on electronics and networks, the disruption could be catastrophic. On the other hand, for developing nations like Nigeria where government’s  response is usually slow, the implications would be socially and economically disastrous. It would imply the sudden evaporation of all the modern conveniences we have taken for granted. No online banking. No emails. No mobile transfers. No WhatsApp messages, Twitter feeds or digital government portals.
The collapse would expose a dangerous dependency, the centralization of personal data. In Nigeria’s multi-biometric systems, the Bank Verification Number (BVN), the National Identification Number (NIN), and SIM registration for mobile networks, are all cloud-based. With no internet, access to these databases would be lost. Banks could not verify customers; telecom operators could not authenticate SIMs; and government agencies would be unable to issue new IDs or validate old ones.In Nigeria, over 80% of financial transactions now occur digitally, thanks to the rapid adoption of fintech platforms such as Opay, PalmPay, Paga, and the Central Bank Nigeria’s eNaira initiative. Assets of companies worth trillions of naira are also stored digitally and transacted on the Nigerians Stock Exchange. Like other transactions, these have no certified paper backings other than electronic storages.
It means that the wealth and wellbeing of millions now lie at the mercy of machines. According to the Nigeria Inter-Bank Settlement System (NIBSS), in 2024 alone, the value of electronic payments in Nigeria reached ?600 trillion. Whereas it sounds apocalyptic, yet experts have long warned that a total internet collapse, whether from cyberwarfare, global technical failure, or coordinated attacks on undersea cables, could paralyze the world far beyond imagination. A total internet blackout would instantly freeze the banking system as banks lose interconnectivity, making transfers, withdrawals, and payments impossible. Fintech companies would go offline, cutting off millions from access to their digital wallets, while Point-of-Sale (PoS) operators, who depend on network connections for every transaction, would be stranded.The economy would revert overnight to cash dependence.
But cash, already scarce due to the CBN’s currency redesign and digital push, would not circulate fast enough to meet demands. Markets would collapse into panic, and trust in banks could erode within hours. Modern governance in Nigeria has increasingly depended on digital infrastructure, using e-government portals to handle licensing, pension records, procurements, revenue collection and budget management. An internet collapse would send governance back to the analogue age. Ministries would lose coordination, digital files would be inaccessible and online recordkeeping systems would fail.For ordinary Nigerians, the consequences would be deeply personal. Salaries paid through electronic transfers would go into limbo. Traders on Jumia, Konga, and social media marketplaces would lose their livelihoods overnight. Health and other insurance policies that currently dependent on cloud records and telemedicine would be truncated.
Even more troubling, a prolonged blackout could corrupt or erase data stored in unsecured local servers. Without connectivity to global backups, entire records, financial histories, health data, and school records, could be lost. For millions around the globe, digital amnesia would mean loss of identity, wealth and social status. Without communication, rumours would fill the void, potentially triggering civil unrests, misinformation, or even national security crises that may lead to uprisings in many countries.In a world where WhatsApp has replaced the post office and Zoom serves as boardrooms, digital communication collapse would feel like the death of modern society. Businesses would halt meetings, journalists would lose sources, students would be cut off from online learning, and diaspora remittances and family ties would suffer. Even voice calls that depend on internet routing would be impossible.
 The silence would be deafening, not just socially but economically, because communication fuels productivity. Without it, markets stall.The collapse of the internet would expose how deeply our daily survival has come to depend on invisible digital threads. If the web were to go dark tomorrow, it would not just dim our screens, it would extinguish commerce, governance, and connection itself. Already, fallouts from increasing cyber-attacks on undersea cables or satellite networks show the fragility of the situation.To preempt these eventualities, developing countries must therefore,  plan to build digital resilience. Critical data should have offline backups within national borders. Banks and fintechs must maintain local intranets or satellite-based alternatives to the public web. Radios, SMS-based, and offline mesh communication networks should be installed as alternative fallback channels.
Proactive protection of key infrastructure must become a national priority, and not reactive fire-fighting. As the internet becomes the nerve centre of modern civilization, developing economies like Nigeria, which strives for inclusion and growth, should avoid being ensnared into a blind spot by rapidly digitalizing into over-dependence. And the question is not whether the internet could collapse, but whether we can survive it when it does. A society that entrusts everything to the cloud must first learn how to breathe without it.
By; Joseph Nwankwor

 

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Opinion

Transgenderism: Reshaping Modern Society 

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Quote:”While some hail transgenderism as a triumph of individual freedom and self-expression, others harbour deep concerns about the implications of this phenomenon.”
Often times, people tend to be about the concept of   cross-dressing and transgenderism While cross-dressing refers to the act of wearing clothing and accessories typically associated with the opposite sex, often for entertainment, self-expression, or personal satisfaction and cross-dressers may identify with their birth sex and may not necessarily experience distress or discomfort with their gender, transgenderism, on the other hand, refers to having gender identity differ from the sex a person is naturally assigned at birth. Transgender individuals may identify as male, female, non-binary, or another gender identity that aligns with their internal sense of self. Transgenderism is often accompanied by a desire to transition, which may involve hormone therapy, surgery, or other medical interventions. However, while some cross-dressers may also identify as transgender, not all cross-dressers are transgender, and not all transgender individuals cross-dress.
 We have heard of a few Nigerian individuals who have identified as transgender or non-binary, even though they may not have publicly denounced their original gender. The case  of Okuneye Idris Olanrewaju, popularly known as Bobrisky, is  one no longer hidden. A Nigerian social media personality and crossdresser, Bobrisky  has gained a large following online. While not openly identifying as transgender, Bobrisky has been known to challenge traditional gender norms. Another known personality in this regard, is Denrele Edun. The later is a  Nigerian television host, actor, and model who has been known for his androgynous appearance and style. Denrele has also  not publicly identified as transgender but has been open about his non-conformity to traditional gender norms. Onyx Uzo, a  Nigerian non-binary artist and writer,  has been open about their gender identity.
 The transgender movement has really gained unprecedented momentum in  recent years, sparking intense debates and discussions across various spheres of society. While some hail transgenderism as a triumph of individual freedom and self-expression, others harbour deep concerns about the implications of this phenomenon. As the world grapples with the complexities of transgenderism, it is essential to engage in a nuanced and multifaceted examination of the issues at stake. To begin with, it is crucial to acknowledge that transgenderism is a deeply personal and complex issue, affecting individuals and families in profound ways. While some people may identify as transgender due to a genuine sense of discomfort with their biological sex, others may be driven by factors such as mental health issues, trauma, or social pressure.
It is essential to approach each individual experience with empathy and understanding, recognizing that there is no one-size-fits-all explanation for transgenderism. However, as we strive to be compassionate and inclusive, we must also consider the broader implications of transgenderism on society. One of the most pressing concerns is the erosion of traditional sex distinctions and the redefinition of gender. Proponents of transgenderism argue that gender is a social construct, and that individuals should be free to identify as they choose. However, this perspective neglects the biological and anthropological realities of sex and gender. The consequences of blurring the lines between male and female are far-reaching and profound. Women’s rights and spaces are being compromised by the inclusion of biological males who identify as females.
Women’s sports, bathrooms, and shelters are being redefined to accommodate transgender individuals, often at the expense of women’s safety and dignity. Furthermore, the transgender movement has been linked to a range of mental health concerns, including depression, anxiety, and suicidal ideation. Rather than encouraging individuals to embrace a transgender identity, we should be providing them with compassionate and evidence-based care that addresses the underlying issues driving their desire to transition. In addition, the push to normalize transgenderism has significant implications for children and adolescents. The increasing trend of diagnosing children with gender dysphoria and administering hormone blockers and cross-sex hormones raises serious concerns about the long-term effects on their physical and emotional health.
It is also essential to examine the role of ideology and politics in shaping the transgender movement. The promotion of transgenderism as a social justice issue has led to the suppression of dissenting voices and the marginalization of those who hold differing views. This climate of intolerance and censorship is antithetical to the principles of free speech and open inquiry. Moreover, the transgender movement has been criticized for its lack of scientific rigor and its reliance on anecdotal evidence. Many experts argue that the current diagnostic criteria for gender dysphoria are flawed and that the treatment options available are often inadequate. The lack of longitudinal studies and the dearth of data on the long-term effects of hormone therapy and surgery are particularly concerning. The implications of transgenderism on the family and society are also significant.
 The redefinition of gender and marriage has led to a reevaluation of traditional family structures and relationships. While some argue that this shift is necessary and liberating, others worry about the potential consequences for children and society as a whole. Howbeit, the transgender conundrum is a complex and multifaceted issue that requires careful consideration and nuanced analysis. While we must approach each individual’s experience with empathy and understanding, we must also examine the broader implications of transgenderism on society. By engaging in a thoughtful and informed discussion, we can work towards creating a more compassionate and inclusive society that respects the dignity and humanity of all individuals.As we move forward, it is essential that we prioritize critical thinking, intellectual honesty, and open inquiry.
We must be willing to ask difficult questions, challenge prevailing narratives, and engage in respectful dialogue with those who hold differing views. Only through this process can we hope to arrive at a deeper understanding of the complex issues surrounding transgenderism.
By: Sylvia ThankGod-Amadi
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Opinion

A Renewing Optimism For Naira

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Quote:”……in 2024 alone, Nigeria imported N14.14 trillion worth of goods from China, compared to China’s N3 trillion imports from Nigeria.”
Nigeria’s national currency, the Naira, is creating a new buzz as it sets on rising trends following years of astronomical slides in the recent past. Just within a few months ago, naira’s trajectory charted almost a straight course, strengthening from N1,636.71/$ on April 10, 2025, to N1,465.68/$ on October 2, 2025. But financial analysts appear divided over the future fate of the local legal tender.While analysts like the Forbes and Renaissance Capital Africa (RENCAP) deride naira’s current trends as being unsustainable, Bloomberg sees a sunnier side. However, evolving economic landscapes strongly suggest that the naira might be charting a sustainable path of resilience. For more than four decades, the naira had never experienced favourable Foreign Exchange (FX) tussles.
Suffering under skewed supply and demand tensions against foreign currencies, the value of the naira had procedurally depreciated. It got worse when, at the height of subsidized petroleum products import-dependence, subsidies got suddenly withdrawn in May 2023 as the present government took over office. Barring local production of the products, coupled with poor export earnings, demands for scarce foreign currencies surged at all FX windows as product importers competed to make overseas payments. The result was cataclysmic. The naira depreciated rapidly against the dollar, falling from N460.7/$ in May 2023 to N1,706/$ in 2024. Hardships propagated across the entire Nigerian economy in ripples of hyper-inflation as is still being felt. The initial response from the Central Bank of Nigeria (CBN) was knee-jerk and unsustainable, as the regulator kept throwing its store of foreign reserve into FX markets to quench the ensuing inferno.
 Though the naira showed buoyancy at the expense of depleting reserves, the CBN was criticized against the hopelessness and unsustainability of such artificial floats. Thankfully for the local currency, after months of fire-fighting, the CBN, aided by other lucky developments, may have stumbled unto some formulae to weather the storms. Emerging econometrics now suggest that the economy may be in recovery, and the naira appears to be charting a more optimistic course, even as the apex bank still prods it. The lower oil production data of around one million barrels per day as at May 2023, has improved to around 1.51 million barrels per day at the moment. Surely, the fight against oil thefts is rewarding the economy with surpluses unencumbered by Nigeria’s debt-mortgaged oil futures.bSecondly, a changed petroleum products sourcing landscape, berthed by new-found local refining capacity at Dangote Refinery, if not strengthening the naira, must be tipping the balance of FX pressures in its favour.
While asserting its ability to fully satisfy local demands, the Dangote Refinery also hit a remarkable milestone when it shipped its first cargo of gasoline to the United States of America last month, drawing-in huge FX. Earlier, the refiners had shipped to Asia and West Africa, in a significant shift that has transited Nigeria from being a net-importer of petroleum product, to a net-exporter. Also, improvements in the non-oil exports are increasing the inflow of foreign currencies to Nigeria. Nigerian cocoa and other agro-products especially, got higher demands as crop diseases resulted in poor crop yields in neighboring West African countries. It should be noteworthy that CBN’s experiments with Naira-Yuan trade swaps with China may not have been of much favour. Though on-going trade swap arrangements between Nigerian and China which enable some settlement in naira and yuan, may ease dollar pressures, the huge trade imbalance between Nigeria and China may replace any gains with new yuan pressures.
 According to the National Bureau of Statistics, in 2024 alone, Nigeria imported N14.14 trillion worth of goods from China, compared to China’s N3 trillion imports from Nigeria.
However, the CBN could be given credits for its bold reforms at the Foreign Exchange market that created a single Nigerian Foreign Exchange Market (NFEM) in October 2023, which replaced the former Investors’ and Exporters’ window, and later adopting the Electronic Foreign Exchange Matching System (EFEMS) in December 2024. These steps successfully narrowed the gap between official FX rates and the black market. Even as the measures may not directly detect the balance of currency demands and supplies, improved transparency and liquidity raised confidence that is boosting foreign remittances via official channels. Added to improved exports, it is evident that the extra liquidity gives spontaneous buoyancy to the naira, in ways CBN’s panicked throwing-in of dollar into FX markets could not have.
This is why, when the CBN Governor, Olayemi Cardoso, announced during the 302nd monetary policy committee meeting that, “The second quarter 2025 current account balance recorded a significant surplus of $5.28 billion compared with $2.85 billion in first quarter of 2025,” there is need for him to identify significant drivers. The CBN deserves commendation also, for incrementally growing Nigeria’s Foreign Reserve savings from $34.39 billion as at May, 2023 to $42.40 as at October 2, 2025. The strength of a nation’s reserves reflects its ability to meet international payment obligations without straining the stability of its legal tender, and also serves as part of risk assessment criteria that determines its borrowing costs. Increasing reserves is projecting greater external resilience for Nigeria, which reflects in Moody’s upgrading, this year, of Nigeria’s rating from ‘Caa1’ to ‘B3.’
With renewed investor confidence, foreign investments may be heading towards Nigeria as ripples from the Nigerian Stock Exchange (NGX) suggest. Following recent interest rate cuts in the US, foreign investors appear to be shifting appetites towards Nigerian portfolios. Improved reserve is also helping Nigeria at the Eurobond market, where the yield rates Nigeria pays on its loans, have fallen from above 8 percent in early 2024 to just over 5 percent by mid-2025. However, even as the N1,706/$ exchange rate of last year, compared to the current N1,465.68/$, may seem cheery, it is still a far cry from the N460.7/$ of May 2023, when this administration took over. Government and the CBN need to push further to shore-up greater reserves, and to build local and international assurances that attract job-creating investments for local production. Comparatively among its pairs, South Africa’s reserve is $70.42 billion, Algeria’s, $64.574 billion and Egypt’s, $49.04 billion.
Nigeria, which is being projected for a $1 trillion economy by 2050, should be focusing on $100 billion external reserves. Apart from reserves, Dangote local refining shows that local production is pivotal to the value of local currencies. Nigeria needs to improve security and infrastructure to reassure subsisting industries, and improve ease of doing business, in order to attract industries. Though Naira’s path of recovery this time is sustainable, the factors that aid it need to be sustained.
By: Joseph Nwankwor
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