Next Economy initiative empowers youths with skills to tackle unemployment

A transformative initiative with focus on youth empowerment is working towards changing the narrative of youth unemployment in Nigeria.

This is against the backdrop of the unemployment situation in the nation which majorly affects young people.

The most recent data from the National Bureau of Statistics released in August, indicates a decline in the country’s unemployment rate, to 4.1% in the first quarter of this year from the 33.3% rate seen in the fourth quarter of 2020.

The statistical authorities had said the report covering the fourth quarter of 2022 and the first quarter of 2023, was an in-depth analysis of the key labour market indicators Including rates of unemployment, underemployment, informal employment and hours worked.

Economic watchers feel the figures do not reflect the true situation of things and continually maintain that the country’s unemployment situation is of immense concern and should be wholesomely tackled.

A transformative initiative which empowers young people in ways that allows them harness their talents, boost their self-assurance, and refines their essential skills to make them thrive in workplace careers or as entrepreneurs, is working to change the country’s unemployment narrative.

The next economy initiative which has already empowered youths in Lagos and Abuja, empowers them with various entrepreneurship skills critical to their self development journeys.

It is a collaborative effort with different organisations as well as the Dutch Ministry of Foreign Affairs, which has specifically trained beneficiaries in core life skills, employability , entrepreneurship and incubation trainings.

Apart from Nigeria, the next economy initiative also empowers youths in Mali and Somalia .

The project had an initial first phase, which covered the 2015-2019.

Its second phase spanning years 2020- 2023, is now drawing to a close.