YOUTH UNEMPLOYMENT AND RISING INFLATION IN NIGERIA: A CALL FOR SUSTAINABLE ECONOMIC EMPOWERMENT STRATEGIES
Halima Haruna Muhammad 1
Ahmed Malumfashi Halliru 2
Department of Economics, Al-Qalam University Katsina, Nigeria 1
Department of Economics, Umaru Musa Yaradua University, Katsina, Nigeria 2
Corresponding Email: halliruam77@gmail.com 1
Abstract
Nigeria is facing a dual economic challenge: persistently high youth unemployment and escalating inflation. This paper explores the interconnectedness of these two critical issues and argues that without sustainable economic empowerment strategies targeting youth, the nation risks deepening its socio-economic crisis. Drawing on current data and policy reviews, the paper presents an overview of Nigeria’s economic situation, highlighting how inflation reduces the purchasing power of households and hampers job creation, particularly for the youth. It examines the cyclical relationship between youth unemployment and inflation- where rising costs limit opportunities and joblessness which further exacerbates poverty and inflationary pressure. The paper also discusses the socio-economic consequences of these trends, such as increased crime rates, youth migration, social instability, and weakened national productivity. It critiques existing government interventions such as N-Power and the Youth Empowerment Fund, identifying systemic challenges like corruption, poor implementation and inadequate funding. To break this cycle, the paper proposes a set of sustainable strategies: promoting skills acquisition and vocational education aligned with market needs, improving access to youth-friendly credit and grants, supporting entrepreneurship and innovation, fostering public-private partnerships, and ensuring inclusive economic policy reforms. The paper makes a strong case for placing youth at the center of Nigeria’s economic recovery agenda by advocating for inclusive, practical, and scalable interventions. It concludes with a call to action for policymakers, private sector stakeholders, and development partners to prioritize sustainable empowerment strategies as a pathway to stability, economic growth, and long-term national development.
Keywords: Youth Unemployment, Inflation, Economic Empowerment, Sustainable Strategies, N-Power.
