Empowering Employees for Self-Employment in a Depressed Economy: Challenges and Prospects of Skills Development in the Nigerian Multinational Corporate Sector

Abstract

With the global economic meltdown and consequent negative implications on employment and job security, the economic situation in Nigeria has become more daunting to the extent that many multinational corporate sector operators have not only reduced production, some have shut down completely with hope for improved business climate while some multinational corporations (MNCs) have relocated to neighbouring countries. The net effect of these trends has been increase in the number of the unemployed who have very little hopes of securing employment in the nearest future as the economic situation in Nigeria remains on the downward trend. With this scenario, this paper aims to probe the issue of skills development in the multinational corporate sector. Its central concern is to ascertain the level to which MNCs’ training and skills development programmes empower employees to be self-employed beyond the employing organisation and industry. The paper argues that although MNCs are viewed as custodians of skills and technology deployed for production globally, with their many years of business operations in Nigeria, skills shortages abound while unemployment have increased. What are the factors responsible for this situation? The paper situates the discourse on human capital theory. Its findings are based on interviews conducted in three skills development and utilisation agencies – State policy making institutions, multinational corporate sector and organized labour. The paper concludes that concerted efforts are required on the part of government to ensure that MNCs’ skills and training programmes are tailored and implemented in line with Nigeria’s national aspirations on human capital formation.