By Izunna Okafor, Awka
The Founder, Walata Humanitarian Foundation and MD/CEO, Walata Consults and Services Ltd., Hon. Stanley Nwabueze Okafor, has called on the government to create an enabling environment to attract investors and address the rising unemployment rate in the society.
Hon. Okafor made the call in a keynote lecture at the conference of the Catholic Women Organisation (CWO), Osumenyi Denary, which held over the weekend at the Holy Spirit Parish, Osumenyi, in Nnewi South Local Government Area of Anambra State.
Lecturing the women on the topic, “Unemployment and the Way Out,” Hon. Okafor detailed the economic and social consequences of unemployment, noting its impact and far-reaching implications on family income, youth productivity, and overall economic health are very severe and alarming.
According to him, unemployment is a persistent challenge that not only reduces disposable income and weakens purchasing power but also negatively affects mental health and employee morale across various sectors of the society.
Speaking further, the Utuh-born philanthropist highlighted several key causes of unemployment, including rapid population growth, limited industrial expansion, over-dependence on government, and technological advancements that replace manual jobs. He also identified criticized the country’s education system for lack of emphasis on practical skills and job-oriented training as a major factor contributing to high youth unemployment, adding that an overhaul of the system was necessary to bridge the gap between education and employment.
Okafor stressed that economy, with high rates indicates an unhealthy economic structure. To counter this, he called for targeted efforts to foster an industrial-friendly environment that would encourage investment in various sectors, particularly agriculture and manufacturing, both of which hold potential for job creation.
Furthermore, he proposed that government should invest in rural development to reduce migration pressures on urban centers. According to him, decentralizing job opportunities and infrastructure would not only ease urban unemployment rates but also promote balanced regional development.
In addition to reforming the education system to align with market demands, Hon. Okafor advocated for improved energy supply and transportation systems to lower production costs for industries. He emphasized that these infrastructural improvements could significantly reduce layoffs, stimulate job creation, and attract private investors who would contribute to economic growth.
Addressing the role of government, he called for more proactive governance, suggesting that the government should anticipate and mitigate economic crises through preventive actions and comprehensive policy frameworks. He also pointed out that collaboration with private sectors and foreign investors would be instrumental in strengthening Nigeria’s job market.
While congratulating the women on the 2024 Conference and urging them to embrace self-employment; Hon. Okafor also urged the government and society to foster a shift in mindset, moving away from dependence on formal employment towards embracing skills development and entrepreneurship. He argued that, by encouraging self-reliance, Nigerians could achieve sustainable economic progress and a higher quality of life for families and communities across the nation.
