WorldStage Economic Summit to Discuss Nigeria’s Unemployment Crisis

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As the Nigerian economy slipped into a recession in the second quarter of 2016 with a decline in Gross Domestic Product (GDP), organisers of the WorldStage Economic Summit 2016, said arrangement have been concluded to hold the even on Wednesday, November 16, in Lagos.

Experts and top industry players have been assembled to address the unemployment challenges facing the African biggest economy.

The President/CEO, World Stage Limited, Mr. Segun Adeleye, said the theme of the summit ‘Addressing the Unemployment Crisis in Nigeria’ was inspired by the need to identify and proffer solutions to the growing unemployment problem in every sector of Nigerian economy.

He said the summit to be graced by policy makers from the executive and the leadership of the National Assembly, will identify the employment generation potential of every sector of the economy from agriculture, ICT, maritime, banking & finance, mining, aviation, construction, oil and gas and others and then address what they need to realise their full potential.

“Among the top officials that will make presentations at summit include Senator Abdullahi Adamu, Chairman Senate Committee on Agriculture and Rural Development; Mr. Mordecai Ladan, Director, Department of Petroleum Resources; Mrs Omolara Aromolaran, MD/CEO, Crown Natures Nigeria Plc; Senator Donald Omotayo Alaosoadura, Chairman, Senate Committee on Petroleum (Upstream); Dr. Gloria Elemo, Director General/CEO, Federal Institute of Industrial Research (FIIRO); and Mr. Waheed Olagunju, Acting Managing Director, Bank of Industry (BoI).

According to Adeleye, the alarming rate of unemployment in Nigeria should not only be of great concern to the government, but also to the private sector and other critical stakeholders in the economy.

“Though, unemployment is a global problem, but for us in Nigeria, it is endemic, as our high population growth is out of proportion with the economic development and productivity. Recent World Bank data put the country’s population at 182,201,962,” he said.

He said the summit will also review the economic potential of the states and local governments in order to arrive at sustainable development strategy for them to be economically viable with or without revenue from federation account.