‘ Innovation, creativity crucial to reduce youth unemployment’

Olaotan Fawehinmi is a marketing communications expert and Associate Director at Mediacraft Associates. In this interview with GLORIA NWAFOR, he talks about how Nigeria can tackle youth unemployment through innovative solutions and how the country can stimulate entrepreneurship to drive economic growth.

With Nigeria’s unemployment rate put at five per cent according to the latest data by the National Bureau of Statistics, what do you think are the solutions for addressing the nation’s high unemployment rate?

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NNOVATION and creativity are the solutions to Nigeria’s unemployment challenges. They are essential for Nigeria’s economic development and global competitiveness. However, Nigeria currently lacks a supportive ecosystem for innovation and creativity, and there is a need for substantial investments and a shift in focus towards education, research, infrastructure and exposure to bring about change. Innovative ideas often lead to the creation of new businesses and industries, thereby generating job opportunities. With Nigeria grappling with high unemployment rates, reaching 5.0 per cent in Q3’ 23, according to the latest Labour Force Survey from the National Bureau of Statistics, innovation and creativity can alleviate this issue by opening new avenues for employment. Encouraging more entrepreneurs to pursue their ideas will drive economic growth and prosperity. By supporting innovative and creative startups and small businesses, young Nigerians can create job opportunities for themselves and others, thereby reducing youth unemployment, rural- urban migration and economic inequality within the Nigerian society.

Innovation in education and vocational training can equip youth with relevant skills for the job market. Creativity in curriculum design can make learning more engaging and practical, preparing youth for various employment opportunities. Embracing technological innovations can create new industries and job opportunities. Rural areas will benefit from investments in digital infrastructure and the promotion of tech literacy. Innovation in agricultural practices can improve productivity and profitability in rural areas, reducing the dependence on urban centres for livelihoods.

Creativity in social programmes and policies can address economic inequality by targeting marginalised communities and providing them with opportunities for advancement. Initiatives like microfinance, community development projects, and social entrepreneurship can empower disadvantaged groups and bridge the economic gap. Investing in creative industries such as arts, entertainment, fashion, and media can generate employment opportunities and contribute to economic growth. Innovation hubs, coworking spaces, and collaborative platforms can facilitate knowledge sharing, networking, and collaboration among entrepreneurs and innovators. What role do parents, educators and the government play to help achieve the practical skills needed for the youths to secure employment opportunities through innovation and creativity?

Incorporating innovation and creativity into practical skills acquisition is vital for Nigerian youths to effectively compete in the dynamic job market and for progress, entrepreneurship, and adaptability. It enables individuals to identify challenges and devise practical solutions, thus enhancing their employability and entrepreneurial endeavours. Parents and educators should encourage children to ask questions, explore new ideas and engage in handson activities. This approach accommodates their curiosity and helps them develop the capacity to innovate and think creatively, empowering them to recognise gaps and develop innovative products or services to address societal needs.

Some parents may have concerns about their children pursuing entrepreneurship due to perceived risks and academic pressures. It is crucial to recognise both the challenges and opportunities of entrepreneurship while also considering academic demands. Ultimately, supporting children’s passions and aspirations, whether in traditional academia or entrepreneurship, is of utmost importance. Learning through experience and failure is invaluable. Youths must develop resilience, adaptability, and problem- solving skills that they can apply across various fields. Even unsuccessful ventures provide valuable lessons for future endeavours. Encouraging children to pursue entrepreneurial ventures aligned with their interests, values, and talents is crucial for resilience and motivation amid challenges. However, balancing academic responsibilities with entrepreneurial pursuits requires effective time management skills. Prioritising tasks and seeking support or delegation can help children manage their commitments.

Fawehinmi