Despite its youthful population, Nigeria needs help to harness this dynamic resource to score critical socioeconomic wins. Numerous experts have cited the high rate of unemployment in the country and the reduced opportunities for young people to become economically independent as the major challenges.
In a 2021 report titled “Of Roads Less Travelled: Assessing the Potential for Migration to Provide Overseas Jobs for Nigeria’s Youth”, the World Bank stated that Nigeria’s unemployment rate rose five times between 2010 and 2020, going from 6.4% in 2010 to 33.3% in 2020. The report also noted that the unemployment rate was significantly higher for youth (42.5%) than for non-youth (26.3%).
Against this backdrop, most Nigerian youths continue to look for greener pastures in North America and Europe, as opportunities that had hitherto declined worsened post-COVID. Those who remain in the country constantly seek opportunities to improve their skills and take advantage of Nigeria’s growing tech boon.
Nigeria’s Tech Opportunity
The Tech industry has become one of Nigeria’s brightest spots in recent years, creating new business opportunities and employment for a growing number of young people. The industry has also witnessed exponential growth, with a report by McKinsey projecting that Nigeria’s digital economy could contribute over $9 billion in intrinsic value to the country’s economy by 2025.
This growth is fueled by a young population with a strong affinity for technology, a rapidly emerging startup ecosystem, and increasing investments from local and international venture capital firms. In 2023 alone, reports show that Nigerian tech startups raised over $390 million.
Several factors have contributed to this remarkable growth:
- Mobile Penetration: The widespread adoption of mobile phones has created a massive market for tech products and services, particularly in areas like fintech and e-commerce.
- Increasing Internet Access: Improved Internet connectivity, especially in urban areas, has facilitated the growth of online businesses and digital services.
- Supportive Government Policies: The Nigerian government has introduced several initiatives to promote the tech sector, including tax incentives for tech startups and funding for tech incubators.
- Skilled Workforce: Despite the high unemployment rate, Nigeria boasts a growing pool of talented young people with solid tech skills, thanks to the efforts of organisations like ALX and other coding boot camps.
However, challenges still need to be addressed, including inadequate infrastructure, limited access to funding for early-stage startups, and a shortage of highly specialized tech skills. Nonetheless, the potential for the tech sector to drive economic growth and create jobs for young Nigerians is immense.
ALX: Empowering Nigerian Undergraduates with Tech Skills
Amid these challenges and opportunities, ALX is playing a crucial role in equipping Nigerian undergraduates with the skills they need to thrive in the tech industry. By offering affordable, high-quality training in in-demand tech skills, ALX is bridging the gap between education and employment and creating a pipeline of skilled tech talent for the growing Nigerian tech ecosystem.
An example is the ALX campus roadshow, which has been instrumental in reaching a wider audience of students and raising awareness about the opportunities available in the tech sector. The engagement has seen ALX take its message of tech skills as a means of economic empowerment to Nigerian universities like Ladoke Akintola University, Babcock University, and Landmark University.
Speaking on this, Seun Babajide-Durosola, Country Growth Manager at ALX, says, “Our campus roadshow is about more than just awareness. We’re sparking a movement, igniting a passion for tech among students. By engaging with university communities, we’re showcasing the immense opportunities within the digital economy and providing a clear pathway for students to harness their potential.”
Through these engagements, the ALX team has engaged with student tech communities, school administration and undergraduate students on possible pathways into the digital economy.
In particular, ALX Africa’s fully funded AICE (AI Career Essentials) programme has been a favourite. The six-week, fully online programme provides students with a practical introduction to AI and the skills needed to leverage this transformative technology.
ALX’s emphasis on community building is another crucial factor in its success. By fostering a vibrant alumni network, ALX provides its graduates with ongoing support, networking opportunities, and access to job placements. This not only enhances the career prospects of ALX graduates but also strengthens the overall tech ecosystem in Nigeria.
A Tech-Enabled Future with ALX
As the tech sector continues to grow, initiatives like ALX will play an increasingly important role in ensuring that young Nigerians are equipped to seize the opportunities that this dynamic sector presents.
ALX’s initiatives are already significantly impacting the Nigerian tech landscape. The organization’s commitment to expanding its reach to more campuses and introducing new courses will further enhance its ability to empower young Nigerians with the skills they need to succeed in the digital economy.
Ruby Igwe, Country General Manager at ALX, says, “ALX is not just about skills training; it’s about empowerment. We’re building a community of tech-savvy young Nigerians ready to transform the nation. Through our programs and vibrant alumni network, we’re creating a ripple effect that will drive innovation and economic growth for years.”
For more information about ALX and its programs, visit their website.
