The World Bank has emphasized Nigeria’s National Youth Service Corps (NYSC) scheme as a valuable asset capable of driving industrial growth, encouraging the Nigerian government to harness its potential. World Bank Country Director for Nigeria, Dr. Ndiame Diop, highlighted this at the World Bank and IMF meetings in Washington, D.C., stressing the need for skill development among Nigeria’s youth as essential for economic progress.
Dr. Diop noted the urgency of addressing Nigeria’s education and nutrition challenges, citing the 15 to 17 million out-of-school children and the 11 million children under five suffering from stunted growth. He underscored that improving early childhood health and access to quality education would better equip young Nigerians for the job market.
He praised the NYSC program as a “goldmine,” advocating for its expansion to provide relevant skills to the 300,000-400,000 graduates who enter the workforce each year. The World Bank, according to Diop, is actively exploring ways to support NYSC in preparing graduates for employment.
The World Bank is also focusing on empowering young Nigerian girls in ICT and STEM, where female enrollment remains low. Diop underscored that building a strong female workforce in these fields is crucial for future technological progress.
In addition, Diop commended recent economic reforms, noting that these changes, although challenging, are “steering the economy in the right direction.” He stressed that the Nigerian government must address high inflation and direct savings from reforms towards education, health, infrastructure, and social protection to ensure that all Nigerians experience the benefits. Diop concluded that strong public-private partnerships are essential to achieving sustainable growth, job creation, and economic stability.