The African Development Bank on Monday said the unemployment situation in Nigeria was frightening and could become catastrophic if decent jobs were not created for the country’s youth population.
It raised the concern at the regional presentation of a report entitled, ‘Creating decent jobs: Strategies, policies and instruments’, in Abuja.
The report, a compilation of policy recommendations from some of the world’s leading labour and development economists, also looked at the unemployment situation in different African countries.
Senior Director, Nigeria Country Department, AfDB, Mr Ebrima Faal, in an address, said Africa was currently facing a job crisis, with the African Economic Outlook estimating that 20 million new jobs needed to be created annually until 2030 to absorb new entrants to the workforce.
Faal, however, noted that the situation in Nigeria was frightening due to the country’s population.
Only the creation of decent jobs for the nation’s fast-growing youth population would prevent the situation from turning into a catastrophe, he stated.