Millions Still Jobless Despite Nigeria’s Economic Potential, Says NESG

August 17, 2026
August 17, 2026
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The Nigerian Economic Summit Group (NESG) has said that Nigeria has the potential to be a leading economy, but millions of Nigerians are still unemployed.

In a statement on Sunday, NESG announced the 32nd Nigerian Economic Summit (NES #32) will hold in October 2026. 

The theme is “Growth that Works: Delivering Jobs, Productivity and Shared Prosperity.”

NESG said: *”With over 220 million people, natural resources, and a young workforce, Nigeria has what it takes to grow. Yet many citizens still face unemployment, low productivity, and few opportunities.”

The group added that growth alone is not enough, as real progress means creating jobs, improving incomes, and ensuring prosperity reaches everyone.

According to Ayanyinka Ayanlowo, Head of Strategic Communication, the summit will bring together government, businesses, investors and young Nigerians to plan for investment-led growth and quality jobs.

NESG noted that while reforms in the last three years have stabilised the economy, the focus must now shift to making growth impact ordinary citizens.

The group also said NES#32 will therefore focus on strengthening the link between macroeconomic reforms and outcomes that matter most to Nigerians: jobs, productivity, income growth, and improved living standards.

The statement further noted that to advance the overarching theme, NES #32 will adopt a performance-driven dialogue architecture built around five interconnected sub-themes designed to address the key dimensions of inclusive and sustainable economic transformation.

It added: “Work Nigeria will explore strategies for building a job-rich economy capable of absorbing Nigeria’s rapidly growing workforce through labour-intensive sectors, MSME development, workforce readiness, and stronger labour market systems.

“Produce Nigeria will focus on strengthening productivity through industrialisation, innovation, investment promotion, digital transformation, and the development of competitive value chains across agriculture, manufacturing, and services.

“Invest Nigeria will seek to examine how targeted investments in people and systems can reduce poverty, expand access to essential services and economic opportunities, strengthen social protection architecture, and build the resilience of vulnerable populations to economic and environmental shocks.

“Scale Nigeria will explore how growth can be expanded across states, sectors, and communities by strengthening subnational competitiveness, regional value chains, infrastructure, and local investment coordination.

“Secure Nigeria will address strategies for protecting critical economic assets, restoring confidence in production zones, improving access to farmlands, safeguarding infrastructure, and creating a secure environment for investment and enterprise growth.

“To ensure focused and outcome-driven deliberations, discussions at NES #32 will be anchored around three interdependent pillars: Productivity, Human Capital, and Resilience. 

“These pillars will guide conversations on how Nigeria can improve competitiveness and efficiency, equip citizens with the skills needed for a modern economy, and strengthen social and economic systems capable of withstanding domestic and global shocks.”

According to the statement, this year’s edition of the summit will seek to generate actionable policy recommendations and build consensus around a new phase of economic transformation focused on driving jobs-rich growth through agriculture, manufacturing, infrastructure, and the digital economy; raising productivity and competitiveness through innovation, improved infrastructure, and regulatory efficiency; strengthening the investment climate to attract domestic and foreign investment; advancing human capital development to align workforce skills with labour market demand; and expanding economic opportunities while reducing poverty across regions and communities.

It is also expected to produce concrete policy directions that strengthen the connection between economic reforms, enterprise growth, employment generation, and household welfare outcomes.

The group emphasised that government, the private sector, and other stakeholders have critical roles to play in shaping a future where growth delivers measurable benefits for every Nigerian.

It added: “NES #32 provides a unique platform for these stakeholders to engage in evidence-based dialogue, forge strategic partnerships, and develop solutions capable of accelerating inclusive economic transformation.

“As Nigeria enters the next phase of its development journey, the Summit will serve as a national platform for answering one fundamental question: How can economic growth work better for Nigerians?

“The answer will shape the country’s path toward a future defined by jobs, productivity, resilience, and shared prosperity.”

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