Nigerian tech workers find themselves in a challenging situation as they navigate the job market following the wave of layoffs, caused by the global tech downturn. With the economy grappling with instability and a flood of talent saturating the job market, finding new roles has become a daunting task for many. This has forced them to make difficult adjustments, including accepting lower-paying jobs and making significant lifestyle changes to cope with the financial strain.
Adding to the struggle is the slowdown in Nigeria's startup ecosystem. The decline in venture funding from $886 million in 2021 to $563 million in 2022 reflects the tough times faced by startups, resulting in limited job opportunities within the sector. Despite the increasing demand for tech talent, the number of available positions is not sufficient to accommodate the growing pool of skilled professionals, leaving many unemployed or underemployed.
Tech training academies, such as AltSchool Africa, have emerged to bridge the skills gap by producing thousands of graduates equipped with technical expertise. However, the job market remains highly competitive, making securing suitable employment challenging for these graduates.
Join us on May 31st, at 4 pm WAT, @Ventures Africa's Twitter Space to discuss āNavigating Nigeria's Job Market".
VA Poll
In a recent LinkedIn survey, we asked our audience about the biggest challenges they face while job hunting in Nigeria's tech industry. The results highlight that the primary challenge is the limited availability of job openings, alongside other contributing factors.