Key Facts/ Statistics

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Information from the National Bureau of Statistics (NBS) shows that:

Currently, over 29 million Nigerians are jobless - Vanguard Newspaper
9 million jobs have been lost in the last three years
The NYSC mobilizes 300,000 graduates every year
Youth unemployment rate was 11.70 percent during the fourth quarter of 2014
In 2017, it rose to 33.10 percent in the third quarter
Nigeria's youth- a majority in the country where the median age is 21 - are the most affected
Nigeria unemployment rate have been on the rise for 9 consecutive years
Fraudulent Ponzi schemes have thrived with millions looking to make a quick money in the absence of gainful employment
The economy is not showing any real sign of improvement
The educational system is in a bad state and underfunded
Nigeria tops global chart as Country with the highest population of people living below $5.5 daily - The Spectator Index

Rationale

The National Employment Transformation Initiative summit (NETSummit) is designed to respond to the growing unemployment rate in Nigeria and the need for a self-sustainable society.

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