Dr Anil Gupta, a globalisation and emerging markets expert has warned Nigerian government to reduce unemployment rate.
He said the over 25 percent rate of unemployment in the country if not checked, could metamorphose into Xenophobia.
“Nigeria’s unemployment rate shows that a huge number of its youths are unemployed,” Gupta said.
A situation which Gupta described as capable of breeding xenophobia.
According to him, high rate of unemployment whether individually or in a society is highly unacceptable.
Gupta also pointed out that Nigeria’s GDP growth rate has been slower than the population growth rate.
‘What this means is that per capita income in real terms in Nigeria has declined over the past years,’ he said.
Gupta disclosed this while speaking on Tuesday during a special programme organized by Pastor Poju Oyemade of Covenant Christian Center.
He said: “The high rate of unemployment among young South Africans gave room for xenophobia.
Nigeria therefore, should not treat unemployment with kids glove.
“There is a lot that Nigeria needs to do. For example, the figures estimated from 15 to 35 age groups.
“The level of unemployment or underemployment in Nigeria is well higher than 25 percent. Moreso, that clearly tells us that something needs to be done urgently.
“At the society level, high unemployment level runs the risk of feeding xenophobia,” Gupta said.
Gupta said that South Africa unemployment rate was responsible for the xenophobic attack on foreigners.
He concluded that “a high unemployment rate is highly unacceptable individually or at the level of society.
“Looking at where Nigeria is coming from and where she is going, a lot more lies ahead.”
