70% of Nigerian graduates unemployable, says economist

From: Job Osazuwa

A specialist in development economics, Dr. Bongo Adi, has raised the alarm that more than 70 per cent of graduates churned out in recent times by Nigerian universities and other higher institutions of learning were unemployable.

He made the revelation at an event in Lagos, organised by the Nigerian Institute of Management (NIM), tagged ‘Corporate Members’ Forum’, with the theme: “Nigerian Economy and Businesses in 2017: Challenges and Options”.

Adi, who is a consultant to the World Bank, described breeding of incompetent human resource in the country as a ticking time bomb that might soon explode and contaminate other sectors of the economy. He said no amount in human development was too much, adding that the dividend at the end would be immeasurable.

He, therefore, urged governments at all levels to take pragmatic steps to quickly rescue the education sector from total collapse. He called for a massive investment in infrastructures so that the glory of the days of yore in the sector could be restored.

“We are all aware of what is happening in the education sector, but nobody is doing anything about it. No serious nation jokes with investing in its human capacity building,” Adi said.

The renowned economist also tasked the Federal Government to open up the economy so that more local and foreign investors could establish businesses that would benefit the country and the citizens. He urged Nigeria to borrow a leaf from the Chinese government, which opened up all aspects of her economy for private investors.  He lamented that most business owners had sold their assets and relocated to neighbouring countries because it was expensive to run a businesses in Nigeria.

The President and Chairman of Council of NIM, Emeritus Prof. Munzali Jibril, tasked the Federal Government to formulate and implement policies that would help in revamping every sector of the economy, and in turn create jobs for the populace.  He said the topic of the forum was apt, considering the economic realities on ground.

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