As outlined in the 2021-2025 National Development Plan, the Federal Government intends to reduce unemployment rate from the current 33.3% to 19.6% by 2025 by adopting sector-wide and sector-specific strategies. However, to have this target achieved, the inadequacy of skilled workforce, considered a key contributor to unemployment, must be thoroughly addressed.
Businesses have continued to cite skill shortage as one of their biggest constraints to doing business. While unemployment is caused by lack of sufficient jobs, in some cases, job seekers also lack requisite skills and competencies to secure decent jobs in the labour market and unless this gap is identified and bridged, unemployment situation may not moderate anytime soon.
We consider the viewpoint of employers very important in this study because they are best positioned to share information on activities within the workspace with respect to:
- How work flows and the resulting way skills are utilized in the workplace.
- How skills are developed internally within the workplace.
- How skills available within the workforce are matched to the needs of workplace.
This study serves as source of intelligence for understanding the skills challenges confronting employers within the Lagos business community, both in terms of their existing workforce and when recruiting. It also highlights in-demand skills from 14 sectors in the business community. Additionally, insights into how employers are responding to the challenges posed by the skill shortage were enunciated in the report.
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