What if Nigeria can tap into its greatest asset (the people) more effectively? Nigeria is a nation brimming with potential, rich in natural resources, arable land, and, most importantly, a diverse and dynamic human capital. Our population—over 220 million strong—positions us as the world’s most populous Black nation. This demographic advantage, especially its youthful workforce, is an extraordinary resource. Yet, we have yet to unlock its full potential to drive economic growth and global relevance.
Human capital is a primary driver of economic growth. A skilled workforce boosts business productivity, which directly translates into increased GDP. While Nigeria’s talent pool is evident in many areas—from arts and sports to medicine and technology—our ability to fully harness this asset remains a work in progress. Without intentional investment in human capital development, even the best policies and international partnerships will struggle to achieve sustainable impact. The question remains: Who will drive the businesses? Who will execute the policies?
Despite having a labour force of over 80 million individuals, Nigeria’s unemployment and underemployment rates are alarming—33 percent and 22.8 percent, respectively, according to recent National Bureau of Statistics (NBS) data. This disconnect underscores a significant challenge: our workforce remains underutilised and, in many cases, inadequately prepared for the demands of a rapidly evolving global economy.
Nigeria’s talent shines in diverse fields. Victor Osimhen and Ademola Lookman have brought international glory through football, while Asisat Oshoala’s six-time CAF Women’s Player of the Year accolades highlight excellence in sports. Nollywood, a $7 billion industry, has produced global hits, including Funke Akindele’s “Everybody Loves Jenifa,” which grossed an unprecedented ₦783 million in just two weeks. Meanwhile, in medicine, Dr Oluyinka Olutoye’s groundbreaking foetal surgery exemplifies Nigerian brilliance.
Yet, these success stories are bubbles in a vast ocean of untapped talent. Brain drain exacerbates this challenge, with over 11,000 Nigerian doctors licensed to practice in the UK alone, according to the UK’s General Medical Council. This exodus leaves critical sectors, like healthcare, struggling with insufficient manpower. Similarly, local industries often depend on foreign workers for basic skills, as lamented by a construction CEO who routinely hires Togolese artisans for tasks such as floor tiling and POP installations.
A surplus of graduates from Nigerian universities does not necessarily translate into a skilled workforce. Without substantial improvements in the quality of education, businesses may increasingly depend on offshore talent to fill critical roles. This is a wake-up call to align workforce development with industry demands, particularly in priority growth sectors such as agriculture, ICT, and trade, which significantly contribute to Nigeria’s GDP. For example, technology—a rapidly growing sector—requires expertise in areas like data analytics, cybersecurity, and cloud computing. Unfortunately, the supply of these skills in Nigeria remains disproportionately low compared to demand.
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To address these challenges, Nigeria must adopt a multi-stakeholder approach to develop a viable talent pipeline:
Government initiatives: The Federal Ministry of Communications, Innovation & Digital Economy’s 3MTT programme aims to create a pipeline of technical talent to fill 2 million tech jobs by 2025. While laudable, such initiatives must be scaled up to support a broader range of sectors. The Ministry of Education should also ensure universities offer courses aligned with industry needs, collaborating with employers to identify and address skills gaps.
Local government and community involvement: State and local governments should support programmes targeting underrepresented groups, such as women, minorities, and people with disabilities. Subsidising digital training courses, establishing skills training centers, and providing access to online learning platforms can make a significant difference.
Private sector collaboration: Businesses should invest in workforce development by funding training programmes, offering internships, and partnering with educational institutions. For example, tech startups could sponsor coding bootcamps to develop talent pipelines tailored to their needs.
Upskilling and lifelong learning: Individuals must embrace a mindset of continuous learning. This includes acquiring in-demand skills like digital marketing, data analysis, and software development, which are critical in today’s economy.
Collaboration among all stakeholders is paramount to truly unleashing Nigeria’s talent potential. The government must provide the enabling environment through sound policies and infrastructure, while the private sector and individuals play their roles in fostering skills development. Together, we can build a workforce capable of driving Nigeria toward its rightful place as a global economic powerhouse.
The journey to fully harnessing Nigeria’s greatest asset begins with intentionality—in policy, investment, and execution. It is time to prioritise our human capital and ensure that our people—the heart of our nation’s potential—are equipped to thrive and propel Nigeria into a brighter future.
Collectively, we have the unbridled power to change the country’s future as citizens and leaders.
About the writer:
Deborah Yemi-Oladayo is the Managing Director of Proten International, a leading HR consulting firm in Nigeria, specialising in talent acquisition, learning and development, and HR advisory services.
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