By Ikechukwu Okaforadi
Former Deputy President of the Senate, Ike Ekweremadu in Abuja said the large number of graduates from Nigeria’s tertiary institutions without the nation’s capacity to absorb them “constitutes time bomb waiting to explode”.
In a motion he sponsored at Wednesday’s plenary, he expressed concern at the revelation of the National Bureau of Statistics to the effect that Nigeria’s unemployment rate stood at 23.1%, saying it was unacceptable to a nation that has what it takes to grow its economy.
“Concerned that the large numbers of various levels of graduates that our high institutions are turning out yearly, but cannot be absorbed by the labour market, are a time bomb waiting to explode stood at 23.1%, saying, it was unacceptable to a nation that has what it takes to grow its economy.
According to him, report of the Minister of Labour and Productivity, Chris Ngige in an online medium on a large scale unemployment rate further showed looming danger in the country, if the situation was not abated.
“In a report published by the National Bureau of Statistics in 2019 states that Nigeria’s unemployment rate stood at 23.1 per cent of the workforce in the third quarter of 2019.
“In a statement credited to the Minister of Labour and Productivity, Sen. Chris Ngige, and published by the “Premium Times” on 9th November, 2019 showed that Nigeria’s unemployment rate will hit 33.5 per cent by 2020
“In any nation with such number of unemployed, but employable youth population, is only sitting on a keg of gunpowder.
Ekweremadu lamented the collapsed of private sector, where every graduate has to queue up for job only in government, a situation he said, was different in other climes.
The former DSP further maintained that the heightened crime of insurgency, kidnapping and cyber Crimes has its root in unemployment.
“That the unemployment is one of the major reasons insurgency, kidnaping, armed robbery, cyber crimes and other vices are on the increase.”
He called on the Federal government to initiative unemployment funds, while asking the three tiers of government to establish factories and revitalise moribund ones for purposes of generating employment.