‘Innovation, creativity crucial to reduce youth unemployment’

Olaotan Fawehinmi is a marketing communications expert and Associate Director at Mediacraft Associates. In this interview with GLORIA NWAFOR, he talks about how Nigeria can tackle youth unemployment through innovative solutions and how the country can stimulate entrepreneurship to drive economic growth.

With Nigeria’s unemployment rate put at five per cent according to the latest data by the National Bureau of Statistics, what do you think are the solutions for addressing the nation’s high unemployment rate?
Innovation and creativity are the solutions to Nigeria’s unemployment challenges. They are essential for Nigeria’s economic development and global competitiveness. However, Nigeria currently lacks a supportive ecosystem for innovation and creativity, and there is a need for substantial investments and a shift in focus towards education, research, infrastructure and exposure to bring about change.

Innovative ideas often lead to the creation of new businesses and industries, thereby generating job opportunities. With Nigeria grappling with high unemployment rates, reaching 5.0 per cent in Q3’23, according to the latest Labour Force Survey from the National Bureau of Statistics, innovation and creativity can alleviate this issue by opening new avenues for employment. Encouraging more entrepreneurs to pursue their ideas will drive economic growth and prosperity. By supporting innovative and creative startups and small businesses, young Nigerians can create job opportunities for themselves and others, thereby reducing youth unemployment, rural-urban migration and economic inequality within the Nigerian society.
Innovation in education and vocational training can equip youth with relevant skills for the job market. Creativity in curriculum design can make learning more engaging and practical, preparing youth for various employment opportunities. Embracing technological innovations can create new industries and job opportunities. Rural areas will benefit from investments in digital infrastructure and the promotion of tech literacy. Innovation in agricultural practices can improve productivity and profitability in rural areas, reducing the dependence on urban centres for livelihoods.

Creativity in social programmes and policies can address economic inequality by targeting marginalised communities and providing them with opportunities for advancement. Initiatives like microfinance, community development projects, and social entrepreneurship can empower disadvantaged groups and bridge the economic gap. Investing in creative industries such as arts, entertainment, fashion, and media can generate employment opportunities and contribute to economic growth. Innovation hubs, co-working spaces, and collaborative platforms can facilitate knowledge sharing, networking, and collaboration among entrepreneurs and innovators.

What role do parents, educators and the government play to help achieve the practical skills needed for the youths to secure employment opportunities through innovation and creativity?
Incorporating innovation and creativity into practical skills acquisition is vital for Nigerian youths to effectively compete in the dynamic job market and for progress, entrepreneurship, and adaptability. It enables individuals to identify challenges and devise practical solutions, thus enhancing their employability and entrepreneurial endeavours. Parents and educators should encourage children to ask questions, explore new ideas and engage in hands-on activities. This approach accommodates their curiosity and helps them develop the capacity to innovate and think creatively, empowering them to recognise gaps and develop innovative products or services to address societal needs.

Some parents may have concerns about their children pursuing entrepreneurship due to perceived risks and academic pressures. It is crucial to recognise both the challenges and opportunities of entrepreneurship while also considering academic demands. Ultimately, supporting children’s passions and aspirations, whether in traditional academia or entrepreneurship, is of utmost importance. Learning through experience and failure is invaluable. Youths must develop resilience, adaptability, and problem-solving skills that they can apply across various fields. Even unsuccessful ventures provide valuable lessons for future endeavours. Encouraging children to pursue entrepreneurial ventures aligned with their interests, values, and talents is crucial for resilience and motivation amid challenges. However, balancing academic responsibilities with entrepreneurial pursuits requires effective time management skills. Prioritising tasks and seeking support or delegation can help children manage their commitments.

What do you think are the needed skills or mindsets to be developed to achieve this and what steps can policymakers take to facilitate the needed growth?
These innovation-driven sectors and knowledge-based industries, including technology, research and development, and creative industries, have the potential to create more jobs and reduce dependency on oil. Increased investment in these areas is crucial. Innovation can lead to the development of new technologies, processes and products, enhancing productivity and competitiveness, attracting foreign investment, boosting exports, and elevating Nigeria’s position in the global market.

Entrepreneurs empowered by innovation and creativity can address societal challenges with new business ideas. Access to funding, a supportive regulatory environment, and business development services are essential for their success. Investments in education and vocational training programmes are necessary to equip individuals with the skills required for participation in innovative industries. Strengthening intellectual property rights ensures innovators and creators can protect their inventions and creations. Access to finance remains a challenge for many innovators and entrepreneurs. Initiatives like venture capital funds, innovation grants, and tailored loan programmes can support startups and small businesses. Investment in research and development activities is also essential for national progress.
Nigeria faces several challenges to innovation and creativity, including infrastructure deficiencies such as unreliable power supply, expensive internet connectivity, and inadequate transportation systems. To overcome these obstacles, we must invest in infrastructure, improve access to finance, reform the education system to emphasise experimentation, problem-solving, and innovation, streamline regulatory processes to reduce bureaucratic barriers and encourage public and private sector investment in Research and development.
Addressing these challenges requires a collaborative effort involving the government, private sector, academia, civil society, parents and the youth. Encouraging hands-on learning experiences, promoting STEM education, and facilitating partnerships between educational institutions and industries can further support innovation.