12th November, 2012
With the prevailing high rate of youth unemployment currently put at over 70 per cent, former president, Chief Olusegun Obasanjo has predicted that a revolution is imminent in Nigeria.
He opined that unless government rises and takes decisive steps to checkmate increasing youth unemployment and the resultant poverty, Nigeria could soon witness a revolution.
According to the Daily Trust, the former president was speaking at the West Africa regional conference on youth employment held in Dakar, capital of Senegal at the weekend.
He bemoaned the rate of youth unemployment in Nigeria which he said was responsible for doctorate degree holders who recently applied for jobs as drivers at the Dangote Group.
Obasanjo recalled that when he assumed office in 1999, youth unemployment rate was 72 per cent but he was able to reduce it to 52 per cent in 2004 but regretted that the rate had moved up to 71 per cent by 2011.
He identified youth unemployment as the cause of social crimes among youths such as yahoo boys area boys and Blackberry boys.
He said: “I am afraid. And when a General says he is afraid, that means the danger ahead is real and potent. Despite the imminent threat to Nigeria’s nationhood there is no serious, realistic short or long term solution to youth unemployment.”
He challenged national leaders to create the enabling environment for small scale entrepreneurs to spring up and grow, adding that more attention should be given to agriculture and agro-allied business.
He advised government to ensure easy access to land and micro-credit scheme stressing that there was needed for a review of university curriculum such that undergraduates can study entrepreneurship for an additional year.
He advocated for a review of the new partnership for African Development NEPAD to be able to address youth unemployment and job creation.
Executives of banks including, Ms Evelyn Oputu, managing director, Nigeria’s Bank of Industry attended the conference which was sponsored by the Organisation for Economic Cooperation and Development, OECD and the African Development Bank.
However, back home, political observers hold the view that Obasanjo was part of the problems giving rise to youth unemployment. For example, during his inaugural speech in 1999 when he became president he vowed that there would be no sacred cows concerning the refineries which contract for their maintenance had then awarded and money collected. He promised to unveil the cabal that was responsible and bring them to book.
But throughout his eight-year rule, the refineries remained redundant, no one was identified or punished for collecting money to fix refineries but refused to carry out the exercise. No serious effort was made to either fix the refineries or build new one.
Therefore, Nigeria, the sixth largest producer of crude oil in the world is still exporting crude oil and importing fuel for domestic use.
It was observed that another cause of youth unemployment by Obasanjo was his inability to provide stable power supply which inevitably rendered the manufacturing sector, the highest employer of labour, inactive.
Political pundits reasoned that Obasanjo also created the present problems by hand-picking his successor, Alhaji Umaru Musa Yar’Adua who died in 2010 and was succeeded by his deputy, President Goodluck Jonathan. As the political godfather to the late Yar’Adua and Jonathan, political observers believed Obasanjo should be able to advise the current leaders and they should listen to him.
Should there be a revolution, many political pundits hold the view that it will also affect Obasanjo since it is believed he contributed immensely to the deplorable state of the Nigerian economy.
—Moyo Fabiyi