The collaboration underscores a shared commitment to tackling unemployment, reducing poverty, and building a digital-ready workforce equipped for the demands of the modern global economy.
The Federal Government is partnering with the World Bank to drive a shared agenda focused on creating high-quality jobs for young Nigerians. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, confirmed this during the World Bank/IMF Spring Meetings, according to a statement issued by the Ministry of Information on April 25.
Speaking to journalists in Washington, D.C., Mr. Edun highlighted that Finance Ministers from World Bank member countries had collectively agreed to prioritize employment generation as a key pillar of development. "Creating good-quality jobs is central to addressing poverty and inequality," the Minister said.
A major element of this strategy includes the expansion of Nigeria’s digital infrastructure, ensuring broader access to internet services, data, and fibre-optic networks, to empower young Nigerians to participate actively in the digital economy.
According to the World Bank, Nigeria’s poverty rate climbed to 38.9% in 2023, with approximately 87 million Nigerians living below the poverty line. The bank pointed to sluggish economic growth as one of the key drivers of this worsening poverty situation. However, it also noted that targeted economic reforms could help reverse the trend. The Federal Government’s new partnership with the World Bank - particularly its focus on creating youth jobs using digital tools - directly addresses the urgent need for inclusive economic recovery.
By investing in digital infrastructure and skills development, Nigeria can equip its large youth population with tools to access new economic opportunities, especially in the growing global digital economy. This approach not only has the potential to reduce youth unemployment but also to lift millions out of poverty by stimulating entrepreneurship, remote work, and tech-driven sectors.
Hikmatu Bilali
