The Employer’s Pathway to Tackling Graduate Unemployment in Nigeria- Olumuyiwa Oludayo

Dr. Olumuyiwa Oludayo is a seasoned higher education consultant, leadership strategist, and workforce development expert. With a wealth of experience, Dr. Oludayo serves as the Principal Consultant at NathanLeadgate LLC, where he collaborates with academic institutions, corporate organizations, and policymakers to bridge the gap between education and employability. His work focuses on creating practical, sustainable solutions to enhance graduate readiness for the evolving job market. Drawing on his expertise, Dr. Oludayo provides invaluable insights into the strategic role employers can play in solving the growing issue of graduate unemployment in Nigeria.

To start, why do you think graduate unemployment remains a significant issue in Nigeria?

Thank you for having me. Graduate unemployment in Nigeria is a critical challenge with broad socio-economic and political implications. While global unemployment rates reached a historic low of 5 per cent in 2024, youth unemployment stood at a staggering 12.6 per cent, according to the International Labour Organization (ILO). In regions like North Africa and the Middle East, the rates were even higher—ranging from 25 per cent to 28 per cent. In Nigeria, this issue is linked to rising insecurity and political instability, making it a situation that needs urgent and strategic intervention to mitigate further consequences.

What do you think are the primary factors that contribute to the high rate of graduate unemployment in the country?

There are several contributing factors. First, there is a significant mismatch between economic growth and job creation. Despite industrial expansion and foreign investment, job creation has not been able to keep pace with the growing workforce. Second, there is a widening skills gap, with many graduates lacking the practical, job-ready skills that employers seek. Third, the disconnect between what is taught in universities and the actual needs of industries exacerbates the problem. Lastly, globalization and automation are leading many industries to become more capital-intensive, which reduces the demand for low-skilled labour, leaving graduates in less demand.

Employers play a key role in workforce development. How do you see their role in addressing graduate unemployment?

Employers are at the heart of solving this issue. While the government has introduced programs like the National Directorate of Employment (NDE) and YOUWIN to combat unemployment, employers need to take a more proactive role. Too often, they acknowledge the problem without actively participating in the solution. Companies still report a significant skills gap, which suggests they need to invest more in developing the workforce. By taking responsibility for shaping the next generation of workers, employers can play a pivotal role in closing the skills gap and ensuring that graduates are prepared for the demands of the job market.

What strategic initiatives can employers implement to help bridge the gap between education and employment?

There are several initiatives employers can undertake. Firstly, offering internships allows students to gain hands-on experience and better understand industry expectations, while companies also have the opportunity to scout and train potential future employees. Secondly, faculty internships—where academic staff spend time working in industry—can help align teaching with real-world challenges, ensuring students receive more industry-relevant education.

Third, offering financial support and scholarships helps encourage academic excellence and the development of skills that meet industry needs. Fourth, collaborative research and development between employers and educational institutions fosters innovation and problem-solving. Employers can also contribute by funding corporate endowments or supporting training programs to modernize education and make sure graduates are well-prepared for the workforce. Finally, organizing career fairs, mentoring programs, and sponsorships can provide students with networking opportunities and a better understanding of workplace expectations.

What do you believe are the next steps for corporate stakeholders to take in addressing this issue?

Corporate stakeholders need to become much more involved in bridging the skills gap. This can be done by actively partnering with educational institutions to align curricula with industry demands. Employers should implement structured internship programs and support faculty placements in industry settings, helping to create a more industry-aligned education system. Additionally, companies should provide research grants and sponsor innovative projects that address real-world challenges. Employers have the capacity to influence and shape the skills of the future workforce, and they must take action now to ensure that graduates are employable.

Finally, how do you think Nigeria as a whole could benefit from these employer-driven efforts?

By modernizing education and providing students with real-world learning experiences, Nigeria can harness its youthful population to build a dynamic and competitive workforce. Through sustained and strategic employer involvement, we can reduce graduate unemployment, enhance skills development, and contribute to a more prosperous economy. A robust collaboration between employers, educators, and policymakers will ultimately lead to the creation of sustainable jobs and long-term economic growth. In essence, if employers take an active role in preparing the workforce, Nigeria stands to benefit immensely, both socially and economically.