The Nigerian Economic Summit Group (NESG) has called on the federal government to create at least 27 million formal jobs by 2030 — an average of 4.5 million jobs annually — to prevent unemployment from worsening as Nigeria’s working-age population expands to 168 million within the decade.
The recommendation was contained in a new report titled “From Hustle to Decent Work: Unlocking Jobs and Productivity for Economic Transformation in Nigeria,” unveiled on Monday at the 31st Nigerian Economic Summit (NES #31) in Abuja.
The NESG warned that without urgent action, unemployment and underemployment could double by the end of the decade, leaving millions trapped in low-skilled, low-paying informal jobs. It said the country must transition from a “hustle economy” to one that creates decent and productive employment.
To drive this transformation, the group unveiled the Nigeria Works Framework — a national blueprint aimed at repositioning the economy around productivity, enterprise, and inclusive growth.
The framework focuses on skills development, sectoral growth engines, small business empowerment, and upgrading the informal economy.
Senior Economist at the NESG, Dr. Wilson Erumebor, described Nigeria’s job crisis as a “fundamental development challenge,” warning that “without decisive reforms, an entire generation risks being trapped in vulnerable work that neither lifts families out of poverty nor moves the nation forward.”
Erumebor noted that informal jobs — often marked by low pay and insecurity — now account for more than 93 percent of total employment in Nigeria. He said the weak private sector and limited government wage capacity had made informal work the “default employer” for most citizens.
NESG Chairman, Mr. Niyi Yusuf, said the country’s next reform phase must prioritise job creation, productivity, and inclusive growth.
“The challenge before us is to embed reforms that drive jobs, growth, and inclusion,” he said. “We must treat job creation and productivity as national priorities — the true pillars of economic resilience and social stability.”
The report identified manufacturing, construction, ICT, and professional services as sectors with the highest potential for large-scale job creation and productivity growth.
It reaffirmed NESG’s commitment to supporting policy actions that align economic growth with employment outcomes.
