Despite an official youth unemployment rate of just 6.5%, Nigeria faces a paradox—companies across sectors are unable to find qualified workers, even as millions of graduates enter the labour force each year.

“This isn’t about job scarcity, it’s about job relevance,” said Mayowa Adeosun, COO of Sycamore Group, a Nigerian fintech. “Our universities are teaching programming languages that were relevant a decade ago. We need AI, blockchain, and advanced analytics.”

The disconnect is especially stark in technology. Nigeria’s fintech sector attracted more than $2 billion in investment in 2024, yet firms are increasingly hiring talent from other African countries due to local shortages. Similar skill gaps exist in agriculture, manufacturing, and services.

Roughly 92.7% of Nigeria’s workforce is in informal employment, and the formal sector struggles to find candidates with the right technical expertise. According to private sector surveys, over 70% of employers report difficulty filling roles due to a lack of job-ready talent.

Government is beginning to respond. Launched in 2023, the 3 Million Technical Talent (3MTT) programme aims to train Nigerians in coding, design, and other digital skills. Meanwhile, companies like Andela and local bootcamps report job placement rates of over 80%, showing the power of focused, skills-based training.

But reform within academic institutions remains slow. Some universities have introduced digital literacy modules and industry partnerships, but progress is uneven.

The urgency of the issue will be on full display at the upcoming African Workforce Summit in Lagos, where over 2,300 participants are expected for on-site job interviews, career consultations, and entrepreneurship support.

“Africa’s demographic advantage is meaningless if we don’t prepare the workforce,” said Moses Joel Babatunde, founder of the summit. “The opportunity lies in turning potential into economic impact.”

Rising underemployment is already driving talent abroad. UK student visa applications from Nigeria jumped 686% between 2019 and 2023, reflecting growing disillusionment among youth.

Solving Nigeria’s hidden skills crisis will require a coordinated push: policy reform, industry-led training, and curriculum overhauls. On their own, none will be enough. Together, they might finally align education with the country’s economic ambition.