Rosy Fynn, the Nigeria Country Director for Mastercard Foundation, said the organization hopes to create 10 million dignified jobs in Nigeria by creating opportunities for young Nigerians through the African Youth Employment Clock.
According to Fynn, the Mastercard Foundation has provided nearly 3 million Nigerian youth with work opportunities already.
“Currently, we have provided nearly 3 million Nigerian youth with work opportunities, but we still have a long way to go. The African Youth Employment Clock will help refine our strategies, and recommend data-driven,” she said during the launch of the African Youth Employment Clock in collaboration with World Data Lab in Abuja yesterday.
Fynn said the initiative aligned with a broader effort of Mastercard Foundation to address youth unemployment and create 30 million job opportunities across Africa by 2030. She said: “Aligned with our mission to enable 30 million young Africans to access dignified and fulfilling work by 2030, the Africa Youth Employment Clock will be instrumental in providing critical labor market insights.
“In Nigeria, where we have the continent’s largest youth population, this tool will be particularly valuable in shaping strategies that address both the challenges and opportunities young Nigerians face in the workforce.
“As our youth population continues to grow, we recognize their potential as dynamic leaders capable of solving local and global challenges.” She said.
Fynn said the clock is also a valuable resource for identifying gaps and strategic opportunities across various sectors, demographics, and regions.
She stressed that real-time data will be useful for stakeholders both in the public and private sectors, academia, civil society, and the youth community.
“As the tool is officially launched, Fynn encouraged all stakeholders to leverage the insights provided to drive positive change. Let us use this data to make informed decisions, derive meaningful change, and answer the call to action for our youth,” she said.
She stated that the initiative is seen as a significant step towards tackling Africa’s youth unemployment crisis, with the potential to transform millions of lives across the continent.
“The employment clock is more than just a data tool—it provides real-time insights into employment trends, helping governments, policymakers, businesses, and educators understand the current state of the labor market. The data-driven approach will enable stakeholders to make informed decisions aimed at reducing youth unemployment.
“This tool helps us understand where we are, where we need to go, and how we can achieve our ambitious goals. It provides essential data that enables us to identify opportunities and make informed decisions to address youth unemployment effectively,” she said.
Fynn further emphasised that the partnership with World Data Lab demonstrated the foundation’s commitment to empowering African youth.
Sen. Abubakar Atiku Bagudu, Nigeria’s Minister of Budget and Economic Planning, said the tool aligned with the Federal Government’s commitment to empowering the youths, addressing unemployment, and building a sustainable and inclusive future for the youth to thrive and contribute to national development.
He said: “As Africa faces unprecedented growth in its youth population, we must harness this demographic potential by creating meaningful employment opportunities. The Africa Youth Employment Clock is a powerful tool that will enable policymakers and stakeholders to access real-time data, fostering informed decisions to drive youth employment initiatives across the continent.
“This aligns with our commitment to empowering young Nigerians, addressing unemployment, and building a sustainable and inclusive future where our youth can thrive and contribute to national development.”
The minister emphasised the critical role of accurate and comparable employment data in shaping Nigeria’s economic policies.
Bagudu stressed the importance of adopting internationally comparable methodologies, noting that Nigeria and other African countries often faced challenges with global ratings and assessments.
He noted that data-driven insights could help address the challenges facing Nigerian youths, many of whom feel socially excluded. Accurate data would allow the government to create inclusive policies that support all segments of society, including those in informal or unconventional employment.
Meanwhile, Nkeiruka Onyejeocha, Nigeria’s Minister of State for Labour and Employment, stressed the urgent need to address youth unemployment across Africa, describing it as a significant challenge that must be met with strategic commitment.
She said: “It is a profound honor to address you all today at the launch of the Africa Youth Employment Clock. I extend my heartfelt appreciation to the World Data Lab and the MasterCard Foundation for their leadership in spearheading this initiative that is critical not only to Nigeria but to the entire continent of Africa.
“Youth employment is a pillar of Nigeria’s socio-economic future. It impacts everything from economic growth to the stability and productivity of our labor market. The youth employment agenda is, indeed, vital for Nigeria’s development.”
Onyejeocha underscored the scale of the youth unemployment crisis, noting that an estimated 240.5 million young Africans are currently unemployed, a number that could rise to over 297 million by 2030 if decisive actions are not taken.
“These numbers are not just statistics. They represent the hopes and dreams of our young people—dreams that risk bein
She warned that such high unemployment levels could threaten the socioeconomic stability of African nations, stifling potential growth and innovatio
Furthermore, Dr. Reshma Sheoraj, Vice President Strategic Engagements, World Data Lab, said: “The Africa Youth Employment Clock is a pioneering initiative that offers reliable and comparable labor market statistics, projecting trends in youth employment across the continent until 2030.
“Our mission is to provide decision-makers with the crucial data needed to drive meaningful change for the world’s youngest workforce. We are honored to collaborate with the Mastercard Foundation in advancing a deeper understanding of youth employment in Africa.”
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