Year in Review: Nigerian Graduates Who Went Into Small Businesses Over Lack of Jobs
The year 2023 is fast coming to a wrap. Looking back, it would be nice to mention some of the things Nigerian graduates did during the year to make ends meet. This is especially important because many of them chose or solidified their stakes in the informal sector of the economy.
According to the National Bureau of Statistics (NBS), the unemployment rate in the first quarter of 2023 (Q1) stood at 4.1 per cent. During the same period, under-employment stood at 12.2 per cent, and youth underemployment was 6.9 per cent.
Also, youth unemployment in Q1 was 18.1 per cent. In February 2023, it was stated that about 53.40 per cent of Nigerian youths are unemployed, according to an article on the website of the federal ministry of budget and economic planning.
Source: TikTok
Due to this, Nigerian youths, especially graduates, are learning to survive by establishing their businesses, no matter how small.
In this article, Legit.ng highlighted the stories of some graduates who shunned the hunt for white-collar jobs in 2023 and are now engaging in one trade or the other.
Kenneth Odoemenam, a fish farmer
One such youth who started his own business is Kenneth Odoemenam, a fish farmer. A Chemistry graduate from the Abia State University, Uturu, Kenneth can be described as self-employed.
Kenneth has solidified his trade after starting in 2017. He now even teaches others how to do the fish business.
He spoke to Legit.ng in an interview in July. He said many youths chose to shy away from farming, but he embraced it.
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His words:
"I started farming with my parents, although it was on a small scale level ( backyard farming). But I ventured into fish farming after I attended an agribusiness seminar around 2017. That was when a family friend intended to start a catfish farm in our place. So after the training, I started doing it experimentally and gradually, it got bigger."
Ezike Theresa Osinachi, EBSU graduate who makes snacks
Ezike Theresa Osinachi is another graduate who even dumped her job to focus on building a small business. She said she realised she was poor when she was on a salaried job. According to her, having to wait until the end of the month to touch money was painful.
She makes kuli kuli, plantain chips, chin chin, peanut burgers, potato chips, and cashew nuts in unique ways and sells them to her growing customers.
In an interview, she explained how passionate she was about running her business. She said:
"I was always broke when I was working. Having to wait till month end to have money for my personal needs is crazy, and at month end, I will still not get paid my salary, one excuse or the other, and I have always wanted to be a businesswoman, though it hasn’t been easy but my hard work is gradually beginning to pay off."
Chukwuemeka Cynthia Chioma went straight to baking after school
On her part, Chukwuemeka Cynthia Chioma saw the future early and started a business even when she was still in school.
As a student at the polytechnic, she started practicing baking, a skill she learned in 2019.
As soon as she graduated, she rented a shop and kicked off her business. She denied herself many things while in school just to make sure she wouldn't look for a job when she graduated. Today, she has so many apprentices, both off and online.
She told Legit.ng:
"I could remember while I was in school, I didn’t go out or buy clothes just because I wanted to save up to have my own shop. My friends and coursemates bought hair and party dresses, but I wasn’t moved because I had a goal. I remember when one of my lodge mates mocked me, saying that I’d been stingy to myself. I don’t know how she saw my account balance, and she was angry. She said this to me …. 'Cynthia, see money wey dey your account, but buy better clothes wear you say no, make attachment you say na wool you go dey make. You go die and leave that money for bank people.' I laughed over it, but I was pained."
"The very first time I made an attachment was when I was graduating. I was literally the only girl that wore a skirt at my graduation. Dem laugh me taya but I nor send. So after graduation, I opened up this shop last year in 2022 July. In 2020, I had only three students. I was praying and believing. In 2023 I started posting and creating content with my students practically and all. I made sure I taught them well so they could testify to others. God has been faithful he has blessed me with 14 students this year and 17 online students this year too."
She told Legit.ng that she can now afford whatever she wants because of the business she is engaged in.
While youth unemployment is unabating in Nigeria, young people are devising their ways to overcome poverty.
Graduate who started small becomes successful
Meanwhile, Legit.ng reported that a Nigerian graduate became a successful fish farmer.
He started his fish farm after graduating from school and expanded it to something highly productive.
He said he started with only 100 fish but can now boast of thousands of fish on his farm.
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Source: Legit.ng
