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The Nigerian Economic Summit Group (NESG) has urged the federal government to generate at least 27 million formal jobs by 2030 — an average of 4.5 million annually — to prevent unemployment from deepening as Nigeria’s working-age population is projected to rise to 168 million within the decade.
This recommendation was presented in a new report titled “From Hustle to Decent Work: Unlocking Jobs and Productivity for Economic Transformation in Nigeria,” launched on Monday during the 31st Nigerian Economic Summit (NES #31) in Abuja.
The NESG cautioned that without urgent reforms, unemployment and underemployment could double by 2030, trapping millions in low-skilled and poorly paid informal work. The group emphasised the need for Nigeria to shift from a “hustle economy” to one that fosters decent, productive employment.
To drive this shift, the NESG introduced the Nigeria Works Framework, a national plan designed to reposition the economy toward productivity, enterprise, and inclusive growth.
The framework prioritises skills development, sectoral growth, small business empowerment, and the modernisation of the informal economy.
Senior Economist at the NESG, Dr. Wilson Erumebor, described Nigeria’s unemployment 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 characterised by low wages and instability — now make up over 93 percent of total employment in Nigeria. He added that a weak private sector and limited government wage capacity have turned informal work into the “default employer” for most citizens.
NESG Chairman, Mr. Niyi Yusuf, stressed that Nigeria’s next phase of reforms must centre on job creation, productivity, and inclusive economic 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 greatest potential to generate large-scale employment and productivity gains.
It also reaffirmed NESG’s commitment to supporting policy measures that link economic growth with tangible employment outcomes.
