Young and unemployed in Nigeria | Nigeria

The most populous nation and the largest economy in Africa has a youth unemployment problem. In Nigeria, almost a quarter of the population is unemployed and 20% is underemployed.

For young people aged 15 to 35, the figures are dark: 55.4% of them are unemployed. The creation of jobs was one of the key issues discussed during this year's election campaign.

Being young in Nigeria is "very difficult," says Andrew Nevin, consulting partner and chief economist at PwC Nigeria.

"University graduates have a hard time getting settled in. Non-university graduates who should receive vocational training do not receive it, they do not enter a formal job. of Nigeria, challenge not only for Nigeria, but for Africa and the whole world ".

Nevin points out that unemployment poses systemic problems.

"Oil over the last 30 years in this country has pushed people to turn away from other industries.We lack diversification.The good news is that everyone recognizes it, and they recognize that it's a crisis … to discuss youth unemployment, the need for young people to have gainful employment. "

"The structural problems remain, the government has not yet solved the problem of exchange rate policy or the subsidy of oil … so all these problems are holding back investment and growth in Nigeria. "

For Nigeria to grow faster, "the country needs more investment," according to Nevin. "The most important thing is that the private sector needs 10 to 15 times more growth over the next decade to effectively fight unemployment and poverty in Nigeria." each sector … the largest sector to grow Nigeria is a real estate property Everyone needs a place to live and we have a deficit of 17 million homes, and the real estate advantage is that "He employs a lot of people, especially carpenters, plumbers and workers – he absorbs people."

"Africans will continue to be poor if Africans do not trade with Africans and do not increase their value.We are strong supporters of the African Free Trade Agreement (AfCFTA). it is obvious that if we only export raw materials to Europe or Asia, we will continue to live in poverty in Africa, which has been well recognized by people, and I think that speed with which AfCFTA's agreement was reached is truly amazing, a pan-Africanism that is coming and whose leaders recognize that if Africa does not trade with Africa and if it does not, Africa does not invest in Africa, we will continue to be poor. "

Also on this episode of Count the cost:

Airbus A380: Production of the world's largest pbadenger aircraft is expected to come to a halt following the fall in orders. The aircraft manufacturer Airbus has announced its intention to stop manufacturing the A380 in two years, threatening thousands of jobs, according to Natacha Butler, Toulouse.

"The A380 is a great airplane, it's a brilliant technology, but it's an expensive airplane, both to build and to fly, because it uses a lot of fuel," according to David Bailey, professor of industrial strategy at Birmingham Aston University.

"We have seen a growth in the number of mid-range planes that are much cheaper, so airlines have tended to prefer them."

"The A380 is not selling as much and is not profitable … The aircraft will remain in service on many major routes like the major hubs of the Middle East, but is not looking to their fleets and they will not seek to replace them … so we will see them again for many years, but just not at the size imagined by Airbus when they invested very heavily in the development of this huge aircraft "says Bailey

The ghost domains of Turkey: Unfinished houses, empty house towers and row houses worthy of royalty have become symbols of the economic crisis in Turkey. Construction has been the turbine behind the country's growth, but high inflation and a devalued currency threaten to rock the industry, as reported by Stefanie Dekker of Mudurnu.

Fishing in Thailand: Thailand is one of the largest exporters of fish in the world. But his industry has been accused of human trafficking and abuse. Two very different films at the Berlin Film Festival highlight the problem in order to make us think more about the food we eat, as reported by Nadim Baba from Berlin.

Venezuela oil: The US's decision to punish Venezuela's oil badets two weeks ago was aimed at preventing oil revenues from touching President Nicolas Maduro. But he fought back by stepping up his efforts to keep the state-owned oil company PDVSA and its subsidiaries from falling into his hands, as reported by Lucia Newman of Caracas.

Source: Al Jazeera