NESG Advocates Shift to Job-Rich Economy Ahead of Summit

The Nigerian Economic Summit Group (NESG) has urged a fundamental shift in Nigeria's economic policy from growth that yields limited employment to a job-rich economy capable of absorbing millions of young people entering the labor market annually. This call precedes the 32nd Nigerian Economic Summit (NES #32), scheduled for October 26 and 27, 2026, at the Transcorp Hilton Hotel in Abuja, themed “Growth that Works: Delivering Jobs, Productivity, and Shared Prosperity.” The NESG emphasized that while Nigeria's economy has seen growth, it has not translated into sufficient dignified employment for millions, particularly with a population exceeding 220 million, 70% of whom are under 35.

The NESG described the labor market crisis as structural, noting that traditional growth sectors like oil and gas and finance are not labor-intensive enough. It advocates for a focus on sectors like manufacturing, agro-processing, and MSMEs, which account for 96% of businesses and 84% of total employment in Nigeria, to enhance job creation.