Survey: 86% of Nigerian Youths Want to Be Self Employed

Eighty-six per cent of the Nigerian youths prefer to run their own businesses rather than work for companies, a research findings conducted by Djembe Communications, a pan-African Communications Consultancy firm in association with Forbes Insight, has revealed.

The survey, which was conducted in the four African countries of Angola, Ghana, Mozambique and Nigeria, show that of the 4,000 respondents interviewed who are between the ages of 16 to 40, 86 per cent of the Nigerians surveyed, are pro-enterprise. The study also showed that 59 percent entrepreneurs played a pivotal role in advancing the economy in terms of job creation, while 38 percent agreed that introducing innovative products and services into the marketing mix contributes to the economic growth and advancement of countries.

In a discussion titled ‘Job creation in sub-Saharan Africa: Entrepreneurs, Government, Innovation’ in Lagos, where the report was presented, Djembe Communications Country Manager in Nigeria, Onome Okwah, said Nigerians today appreciate entrepreneurs as drivers of the new economy, which, according to him is a strong indicator that the country is ready to move on from her total dependence on the oil sector.

“This is the time for Nigeria’s public and private sector to establish solid institutional frameworks that will boost Small Medium Enterprises, SMEs and promote entrepreneurship,” he said.

He listed the top three sectors that Nigerians expect will create the most entrepreneurs over the next five years as agriculture and agribusiness, which the survey put at 58 percent, Information and Communications technology 39 percent, and manufacturing 38 percent.

He said the finding strongly reflects the country’s current landscape in which the agricultural sector is in fact, a major employer and a major driver of economic growth, and further points towards the increasing scope for adding to the value chain and creating jobs through integration with other industry sectors.

The report however illustrated that young Nigerians have a highly positive outlook on the impact of entrepreneurship on their country’s future economic growth and job creation efforts. The report stated that 40 per cent of those interviewed in Nigeria believed that entrepreneurs and SMEs will be the top driver of job

creation in the next five years, ahead of technology, 39 percent and government policies and programs, 37 percent.

Meanwhile the communications firm has embarked on an expansion plan to further grow its presence and build industry capacity in subSaharan African markets.

The agency is targeting the growth in demand from both African and international organisations for more sophisticated communications as these organisations look to realise the region’s significant economic potential. According to the Managing Director, Mitchell Prather, “Africa’s economic growth potential, coupled with the region’s very young demographic and burgeoning middle class segment is giving rise to greater market opportunities, which has led to a dramatic increase in demand from companies wanting to invest in brand building to develop a competitive edge.