Africa to Lead Global Workforce Growth by 2050

The World Bank reports that Sub-Saharan Africa (SSA) is expected to become the largest source of new workers globally by 2050, with more than 620 million people joining the working-age population. SSA's population is projected to grow from approximately 1.5 billion in 2024 to 2.5 billion by 2050.

However, this demographic expansion presents significant economic challenges, as SSA will need to create an average of 25 million jobs annually to accommodate the influx of new workers. The World Bank has urged African countries to pursue diversified, private-sector-led growth, supported by investments in infrastructure, skills, and institutions to lower business costs.

Key sectors identified for job creation include infrastructure and energy, agriculture, healthcare, tourism, and value-added manufacturing. For Nigeria, as Africa's most populous country, the expanding workforce could drive economic growth if sufficient productive employment opportunities are created.

Conversely, without adequate job creation, the population growth may exacerbate unemployment and pressure household incomes.