Dr. Yemi Kale, the Group Chief Economist and Managing Director of Research and Trade Intelligence at the African Export-Import Bank (Afreximbank), has raised a red flag over Nigeria’s escalating youth unemployment crisis, describing it as a “time bomb” and a national security threat.
Speaking during the 2025 Vanguard Economic Discourse held in Lagos under the theme ‘Nigeria’s Economic Outlook 2025: Hardship and Pathways to Sustainable Recovery’, Dr. Kale emphasized the importance of urgent and systemic solutions to tackle the underlying causes of unemployment and food insecurity in the country.
According to data from the National Bureau of Statistics (NBS), the youth unemployment rate (ages 15–24) dropped to 6.5% in Q2 2024, down from 8.4% in Q1 2024. However, Kale and several economists have criticized the revised methodology used in compiling these statistics, noting that the reality on the ground paints a much grimmer picture.
Dr. Kale, a former Statistician General of the Federation, noted that the broader perception and lived experiences of Nigerian youths—particularly university graduates without stable employment—suggest a much higher rate of joblessness than what is officially reported. He insists that youth unemployment remains one of Nigeria’s most urgent threats to stability.
“We’re sitting on a keg of gunpowder. A large population of educated, unemployed youths is a recipe for unrest,” Dr. Kale warned.
Dr. Kale also addressed the issue of food insecurity, which currently affects around 25 million Nigerians. He attributed this to a combination of low agricultural productivity, rampant insecurity in farming regions, climate shocks, flooding, and poor infrastructure, all of which restrict access to markets and reduce food supply.
His comments align with findings from the Food and Agriculture Organization (FAO) and the World Food Programme (WFP), which have consistently flagged Nigeria as one of the top global hotspots for food insecurity due to these overlapping challenges.
