The World Bank has thrown its weight behind Nigeria's National Youth Service Corps (NYSC) scheme, describing it as a valuable resource that can propel the nation's industrialization drive. Dr. Ndiame Diop, World Bank Country Director in Nigeria, emphasized the importance of skills development for Nigeria's growth, highlighting the alarming number of out-of-school children, estimated at 15-17 million, and the need for adequate nutrition for children under five, with 11 million suffering from stunted growth.
To tackle youth unemployment, Diop stressed the need for investing in skills supply, starting from the foundation, and improving the quality of basic education. He praised NYSC as a "goldmine" that can provide the right skills to 300,000-400,000 graduates annually, making it crucial for the World Bank's projects and reforms.
The World Bank is also working on a project to empower girls in technology, addressing the low enrollment of girls in STEM fields, which stands at 13% for engineering programs and 20% for polytechnics. Diop emphasized the need to break stereotypes and encourage women to pursue careers in technology and transformation.
Diop expressed optimism about Nigeria's signature reforms, stating that they are steering the economy in the right direction. However, he noted that these reforms come with high social costs, including inflation, and urged support for those struggling. He emphasized the importance of investing in education, health, infrastructure, and social protection to ensure Nigerians feel the benefits of these reforms.
Nigeria's potential for growth is significant, with a vibrant private sector and entrepreneurial spirit. Diop stressed the need for good public policy and partnership between the public and private sectors to drive growth and jobs. The World Bank's support for NYSC and other initiatives demonstrates its commitment to Nigeria's development.
The NYSC scheme has been instrumental in shaping Nigeria's youth, providing skills and experience that can drive industrialization. With the World Bank's backing, NYSC can continue to empower Nigeria's next generation.
Diop's comments underscore the importance of education and skills development in Nigeria's growth. By leveraging NYSC and addressing the challenges facing the nation, Nigeria can unlock its potential and achieve sustainable growth.
In conclusion, the World Bank's endorsement of NYSC highlights the scheme's potential to drive Nigeria's industrialization and growth. With continued support and investment, Nigeria can overcome its challenges and achieve a brighter future.