Nigeria is the most populated country in Africa and the 7th most populated in the world, with an estimated population of over 198 million. Recent World Population Prospects predict that by 2050, Nigeria will become the 3rd most populated country in the world. At the current annual growth rate of 3.2%, it is projected that Nigeria’s population will double by the year 2030. Currently, the bulk of the country’s population is young, and the country is characterised by high dependency ratios and unemployment rates. Accelerated changes in this age structure, and decline in the dependency ratio could result in potential economic growth and human development called the demographic dividend, which would result in increased labour incomes and savings.
Accordingly, Nigeria needs accelerated inclusive growth to reduce poverty and inequality, and improve living standards. For this to happen, countries must prioritize strategic investments to achieve demographic transition (lower fertility and mortality), while also reducing the dependency ratio. This demographic transition that yields the demographic dividend can only be achieved through investments in health, education, employment and empowerment of young people. One of the key players and stakeholders to fully harness this process are private enterprises. To galvanise private sector involvement in accelerating the process of demographic dividend in Nigeria, the National Population Commission, UN agencies led by UNFPA, HACEY Health Initiative, GBCHealth, Population Council and One Campaign are organizing the Private Sector Conference on Harnessing the Demographic Dividend in Nigeria.
THE CONFERENCE: AT A GLANCE
The Conference will be a one-day event that will take a holistic look at the challenges and opportunities in implementing the Nigeria Road Map on Harnessing Demographic Dividend through private sectors investments in young people, it will also be an opportunity to call on the private sector to lead on
several key deliverables of the DD roadmap. The objectives of this meeting will be:
- To increase the understanding of and discussions around the ‘Demographic Dividend’ and its potential impact on Nigeria’s development, among private sector organizations.
- To motivate and support private sector organizations to develop strategies and programmes that will accelerate the impact of interventions focused on harnessing the demographic dividend.
- To mobilize private sector resources and competence in driving accountability and supporting government efforts to harness the demographic dividend in Nigeria.
- To leverage on the forum and create a Business Coalition on Harnessing the Demographic Dividend in Nigeria.
- To foster a call to action by the private sector to promote investment in harnessing the demographic dividend.
The Conference will offer a platform to learn from one another by sharing ideas and opportunities, and to create new opportunities and strategies for collaboration among key development organizations, government ministries, departments and agencies (MDAs) and the private sector. Participation is welcome from businesses, programme
implementers, donors, government agencies, diplomatic missions and bi/multi-lateral organizations with an interest in harnessing demographic dividend.
For more information about the conference please click here.