A PAPER PRESENTED AT THE HOODING CEREMONY OF COLLEGE OF

SCIENCE & TECHNOLOGY, (CST) COVENANT UNIVERSITY, OTA.

BY MR. ROWLAND E. ABONTA (FNIVS), SECOND VICE PRESIDENT –

NIGERIAN INSTITUTION OF ESTATE SURVEYORS & VALUERS ON 26TH

JUNE, 2014

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TOPIC:-

“ LIFE AFTER GRADUATION, CHALLENGES AND PROSPECTS IN THE GLOBAL LABOUR MARKET”

INTRODUCTION.

Graduation from a University at the first degree level is a very

important stage in the life of every youth that have far reaching

effect in his/her future.

This stage comes with its attendant pressure on decision

making. The youth at graduation has quite a lot of decisions to

make that will help to shape his his/her future in life.

such decisions will include but not limited to;

Choice of Career.

Whether to go for a further studies or not.

Where to be based (City or Town).

When , Who and How to Marry.

How to handle parental pressures, etc.

CHALLEGES: The young graduate also has a lot of challenges to contend with

in the present world.These include:-

1) PAUCITY OF EMPLOYMENT OPPORTUNITIES;

Statistics has it that about 5.3 Million Nigerian Youths are

unemployed.

About 1.8 Million Youths graduate annually from the Tertiary

Institutions

From the inception of the Goodluck Administration in Nigeria to

date, only 1.60 Million Jobs have been created.

About 70% of all major Industries in Nigeria are closed down

from Operations.(Auto-Industry, Textiles, etc).

About 20% out of the 30% that is Operating, Operate at below

50% Capacity.

The episode of the Nigerian Immigration Services Employment

exercise posted over 650,000 Youths participation in only One City

(Abuja) which confirmed the magnitude of unemployment problem

in the country.

Annual intake of employees into Public Service has dropped

beyond average over the years while new entrants into the Labor

market has continued to grow astronomically.

In summary, the Problem of Unemployment in Nigeria is aided by

absolute lack of data, poor planning and the endemic problem of

corruption in Nigeria.

2) LACK OF QUALITY & RELEVANT EDUCATION $ TRAINING: This particular Challenge is very prominent with the Nigerian Youth

due to;

Low standard of education.

Incessant strike actions by both workers and Lecturers in the

Universities that results in frustration of the youth and compromised

standards .

Lack of alignment between our education system and the needs of

employers create a disconnect between the supply and demand for

graduate Labor.

3) LACK OF SKILL AND EXPERIENCE:

This also is very peculiar with the developing nations such as Nigeria.

There is a total disconnect between the Universities and Commerce/

industries which are the employers of Labor, which requirements

are supposed to influence the undergraduate Curriculum and

practical training experiences thereby prepare them for the Labor

Market after graduation.

In the developed economies, there are great employment

opportunities available to students/undergraduates that expose

them to skills and experience at the work place before graduation

which is lacking in Nigeria.

The original intentions of the supervised Industrial Training Work

Experience Scheme(SIWES) and National Youth Service Corp

(NYSC) programs have been Compromised by lack of Planning,

Supervision and Corruption.

The importance of these Schemes and the need for other

deliberate programs to expose our Students to the labor market

before graduation cannot be over emphasized. We will observe

that during recession, youths are the last to be employed (due to

lack of experience) and the first to be fired on the basis of last in

and first out principle.

4) CORRUPTION:

Corruption is a common problem in Nigeria that affects all sectors of

the economy.

Corruption can be described as an abuse of office or position for

private gains characterized by misappropriation of public funds or

funds belonging to others.

(i) Job placement in Nigeria is also affected by corrupt practices both in

the public and private sectors.

(ii)In our nation today, whom you know and how much you can pay goes

a long way to determine your chances of securing employment.

(iii)This has negatively affected majority of our youths who has no body

in authority nor can afford to pay, in their search for employment.

5) GLOBALIZATION;

Globalization itself is a great challenge to the youths in developing

nations like Nigeria.

Globalization, which is a new economic order is propelled by

knowledge and technological advancement which are scarcely

available in Nigeria.

Globalization brings about rapid expansion of markets across

national boundaries with the attendant socio-political effects

which has grave implications for developing nations like ours.

A typical example of the effects of globalizations is that it makes

developing nations dumping ground for finished products thereby killing

local industries and increasing the rate of unemployment, at least at the

short run.

• PROSPECTS:

A combination of the current efforts by Nigerian Government to diversify the

economy and reduce over dependence on the oil and gas sector, and the shortage of

skilled labor creates career opportunities for highly trained or trainable graduates;

The following career prospects and opportunities can be considered;

1) ACCOUNTING & FINANCE:

Highly competitive Sector.

Prestigious and well paid.

Has preference for young graduates.

Preferred Sector by Job Seekers.

2) AGRICULTUURE:

Availability of large expanse of arable land.

Good Climate Condition, fertile soil and rich water resources.

Potentiality for engaging huge skilled and unskilled labor.

3) AUTOMATIVE INDUSTRY: it is a multi-functional industry with various fields and great opportunities

including;

Manufacturing.

Assembling.

Sales.

Maintenance.

Current Government policy aimed at refinancing and protecting the

industry will revive the comatose industry and throw up more Jobs.

4) CONSTRUCTION AND INFRASTRUCTURE:

This is one of the most vibrant sectors of the Nigerian economy

with great employment opportunities for young graduates.

Real Estate Development.

Provision of Infrastrutures;

• Road Construction.

• Rail ways.

• Airports.

• Sea ports.

• Power Generation & Transmission, etc.

• Tourism/Leisure Facilities.

5) ENGINEERING:

This field has great opportunities but also requires hands-on

experience and skills. Graduates in the Field of Engineering should

go beyond the academic qualification to be involved in voluntary

works and internship which are common ways of acquiring skills

and experience

6) OIL AND GAS INDUSTRY:

The industry is regarded as the backbone of the Nigerian economy

with wide range career opportunities for young graduates.

It offers the most attractive pay and welfare benefits which attracts

many graduates.

It offers employment opportunities for almost all fields of endeavor

but the field of engineering and humanities are most favored.

Due to high competitiveness of job opportunities in the sector,

young graduates are better placed if they acquire additional

skills/experience through higher specialized education or internship

in small or medium sized companies.

7) HEALTH AND MEDICAL CARE SECTOR:

This sector is a specialized sector that deals with human life and

has great potentials for future development .

The career opportunities in this sector are restricted to specialized

graduates such as Doctors, Nurses, Researchers and Pharmacists

with support services of a few others.

There are still high demand for these professionals in Nigeria today

at Federal and various state levels.

8) ICT AND E-COMMERCE:

This is a new but rapidly growing sector in Nigeria with great

potentials for Job opportunities and services.

The youths particularly graduates dominate the labor market in

this sector due to its high demanding skills.

The new economic order focuses on internet banking and e-

commerce which has created more career opportunities in this

sector.

The sector provides services to almost all the other sectors of the

economy including the oil industry.

The sector currently engages over 30% of youths employed in

Nigeria.

9) LOGISTICS:

It is a new emerging sector in Nigeria with great potentials for the

future.

It offers great opportunities for self employment.

The Key factors here include;

• Ability to work under pressure.

• An eye for details.

• And a high degree of Flexibility.

10) SMALL & MEDIUM ENTERPRISES(SMES)

This is one area, the youths easily ignore because of the low

paying capacity. But the SMEs offer young graduates the

opportunity of developing business skills.

They also provide the youth with trainings in professionalism for

future professional practice. Example of SMEs will include what is

commonly known as “One Man Businesses or privately owned

businesses such as Professional Consultancy Practice Offices”.

RECOMMENDATIONS:

1)As a matter of urgency, government at all levels should

commence immediate registration of unemployed graduates

in various urban centres and local governments to provide

data planning.

2)Youth employment should be given a top priority by

government in its economic development plans as a

deliberate policy towards checking youths restiveness and

insecurity in the country.

3)Graduates should focus on the option of engaging in self

employment through voluntary services, internship and skill

acquisition rather than wait for salary paid employment that

may never come.

CONCLUSION:

It is obvious that the problem of unemployment among graduates

is huge and has the potentials of growing unabatedly in the

foreseeable future, but well trained graduates have the capacity

of overcoming the challenges through skills acquisition and self

employment.

REFERENCE:

1) Publication of National Association of Students Employment Services (2013).

2) “A better future for young people”. A publication of the International Labor office on the 2012 International year of co-operatives.

3) “Access to Employment”. UNESCO Publication (2006).

4) “Challenges Facing Nigeria Youths in Globalised World”. (Bolton M. and Anayo K. 2007).