According to the National Bureau of Statistics (NBS), Nigeria, out of a total Youth labour force of 38.2 million (representing 48.7% of total labour force in Nigeria of 78.48mn), a total of 15.2mn of them were either unemployed or underemployed in Q1 2016 representing a youth the unemployment rate of 42.24%.
This leaves employment rate high and having young people practically with no opportunities to participate in the markets; an irony in a predominantly youth nation.
Accelerate LABS will be activating the Small and Medium Scale Engine to accelerate economic development through enterprise development and technology incubation. The goal of this project is to equip 2,500 youths (Across the 6 geo zones in Nigeria) by building socially inclined, high profit, and highly competitive enterprise capable of impacting the GDP.
At the end of one year, Accelerate Labs will empower youths to develop empathy, find clarity of purpose and the needed resources build socially responsible enterprises in their communities.
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