KEY POINTS
- NYSC is a “goldmine” for Nigeria’s economic growth, the World Bank says.
- It calls on Nigeria to synchronize NYSC training to industry skills need.
- But education, nutrition, infrastructure are all things you can invest in and you must invest in them.
Leveraging the National Youth Service Corps (NYSC) as a potential catalyst for economic transformation, the World Bank input on Nigeria has been that this could be a tool to promote economic and industrial growth and create jobs.
NYSC is a “goldmine” for Nigeria, says Dr. Ndiame Diop, World Bank’s country director for Nigeria. Diop, who says tapping into the NYSC’s reach of about 300,000 to 400,000 graduates yearly can drive skills development and increase alignment of workforce capabilities with market demands.
The role of NYSC in Nigeria’s economic development
Diop also added that if NYSC training were aligned to meet the labour market’s needs, it would enhance economic productivity.
Focusing on skills based training can help the NYSC tackle Nigeria’s youth unemployment problem and at the same time aid in Nigeria’s translation to an industrial base.
“If Nigeria does this, it would be an asset for industrial growth and it will increase the energy the graduates have for the job market,” Diop remarked.
In addition, he stressed that the efforts will be felt beyond the NYSC. Furthermore Nigeria’s estimated 15 to 17 million out-of-school children is a constraining factor to development and the World Bank is focusing on the strategy of improving educational quality beginning with early childhood.
“Get children to school, end stunting by improving nutrition, give quality education as part of foundational change and help youth better prepare to meet demands of labour market,” Diop said.
World Bank’s main focus is in foundational skills and youth empowerment
In addition, the World Bank is working very actively on projects to promote education for girls in particular in STEM and technology spheres.
According to Vanguard, Diop said that with such low female enrolment in engineering only 13 percent and polytechnics 20 percent closing the gender gap is necessary.
“Increasing women’s participation in STEM plays an essential part for Nigeria’s digital transformation and leadership in future technology innovation,” he added.
However, Diop acknowledged that Nigeria’s reform journey has incurred social costs, afflicting many households with high inflation.
“The World Bank will stand with Nigeria through this transition,” he said. “It should reinvest savings from current economic reforms in the education, healthcare and infrastructure that any country needs.”
