The World Bank has warned that Nigeria and other developing economies could face a deepening employment crisis over the next decade as youth populations surge far beyond available jobs.
The World Bank projected that about 1.2 billion young people will enter the workforce across developing countries within the next 10 to 15 years.
However, only around 400 million new jobs are expected to be created during the same period, leaving a staggering shortfall of roughly 800 million jobs.
The Bank’s Group President, Ajay Banga, warned that the widening gap between labour supply and job opportunities is more than a development concern.
According to Banga “This challenge is not only a development issue,“It is an economic challenge and increasingly a national security concern.”
He cautioned that failure to address the looming jobs gap could fuel social unrest, irregular migration and strain on public institutions.
While global platforms such as the World Economic Forum often focus on immediate crises like conflicts and market shocks, Banga stressed that demographic shifts pose a long-term threat that demands urgent attention.
He noted “If we get this right, demographic change can become an engine of growth and stability,” adding “If we get it wrong, the world will continue reacting to crises that were visible years in advance.”
The warning is particularly significant for Nigeria, where a rapidly expanding youth population is entering an already pressured labour market marked by high unemployment and underemployment.
The World Bank urged developing nations to look beyond headline economic growth and ensure that expansion translates into large-scale, productive employment.”