Top #3 Reasons Why Millions of Nigerians Might Become Unemployed in 2017.
Just last year, an unemployed graduate from Ekiti State University, Mr. Sunday Omotayo, attempted suicide on Wellington Bassey Way, the express road leading to the Government House in Uyo. He jumped out of a speeding Toyota Hiace bus, expecting to be run over by other rushing vehicles. He told the police he was frustrated with life as he had toiled for more than 10 years after graduation, searching for a job but to no avail.
It’s sad to know that a young and energetic man like Sunday almost took his own life due to joblessness. This is one out of 100 cases of graduates in Nigeria who have reportedly tried committing suicide due to joblessness and poverty. It is indisputable that a host of policies have been initiated by the Nigerian government to help curb unemployment in the economy. However the rate of unemployment still increases each year. The question is WHY?
#1 EMPLOYMENT AFTER SCHOOL MINDSET
Quite interestingly, most of the youth after graduating from school, assume it’s time to go out and get a job. But like many things the majority do, just because everyone does it doesn’t mean it’s a good idea. As a matter of fact, most graduates spend years at home because landing a well paid corporate job requires either years of job experiences, very good qualifications or having a good connection with an influencer in the job space.
However, one thing graduates fail to know is that there are far better ways to make a living than selling themselves into servitude or waste precious time and talent sitting at home lamenting.
On the other hand, learning a skill in the informal industry and starting out a business requires no years of work experience. Furthermore, acquiring a skill requires less funds and stands a greater chance of generating money and maximizing one’s lifetime income.
#2 NIGERIA’S UNSTABLE ECONOMY
Nigeria’s economy has been plagued with instability recently . Oil prices have fallen, fuel prices have increased and Naira to dollar rate has also shot up. As a result of this companies who heavily depend on revenue and profits for sustainability are incurring losses due to high cost of production. In desperate need to save money, workers are laid off amongst other survival strategies to help save the company.
#3 SATURATION IN THE CORPORATE SECTOR
In simple terms, a saturated market means more competitors to deal with. Each yearmore than 250, 000 graduates pass through the National Youth Service Corps, NYSC in hopes of getting employed right after. Due to the small number of jobs and advancement of technology, fewer workers are needed.
Companies therefore, have no choice but to sieve through the many applications turned in and employ only a few. The less fortunate ones have no choice but to re-apply to other companies and helplessly wait to be employed.
What’s the solution, you may be wondering?
Graduates need to search for other alternatives!. For example, it’s a fact that no matter how bad the economy is at any point in time, women as well as men still visit the salon and barbering shop once or twice every week; people still eat at food joints and restaurants, women still tie Gele to luxurious events or weddings specially furnished by event decorators.
This highlights the fact that hair stylists, barbers, caterers, event decorators and other professionals in these informal industries make lots of money on a daily basis. And indisputably, industry professionals on beavly.com are earning lots of money through the services they are rendering as well as in training people.
It’s time we change our mindset and seek other avenues of becoming financially independent.
Do you have any strong opinions? Let us know what you think, comment down below.
