•Tinubu and World Bank logo
The World Bank has issued a stark warning that Nigeria and many other developing economies could face a severe employment crisis over the next decade, driven by rapidly rising youth populations and insufficient job creation.
In a blog post published on its official platform, the Washington-based institution highlighted that demographic trends are shifting significantly across developing countries.
According to the Bank’s analysis, around 1.2 billion young people are expected to enter the workforce in these economies in the next 10 to 15 years, reports Channels TV.
It, however, projected that only about 400 million new jobs might be created over the same period, leaving a potential shortfall of roughly 800 million employment opportunities.
The Bank’s Group President, Ajay Banga, underscored that this widening gap between labour supply and available jobs is not just an economic development issue but also a national security concern.
According to him, a job crisis holds the potential to fuel social unrest, irregular migration, and institutional strain if unaddressed.
He pointed out that global forums like the World Economic Forum (WEF) have paid limited attention to the long-term implications of demographic changes compared with more immediate crises such as conflicts or market turbulence.
“This challenge is not only a development issue,” Banga wrote in the post. “It is an economic challenge and increasingly a national security concern.”
“If we get this right, demographic change can become an engine of growth and stability,” the bank noted. “If we get it wrong, the world will continue reacting to crises that were visible years in advance.”
The warning is especially relevant to countries like Nigeria, where a fast-growing youth population is entering an already stressed labour market with persistent high unemployment and underemployment.
The Bank, however, advised developing economies to move beyond focusing solely on economic output to ensure that growth translates into large-scale, productive employment.
