Why Nigeria is among countries to suffer 66% workforce over automation industry
The World Bank has raised the alarm that a number of developing economies, including Nigeria, are in the verge of suffering over 66 per cent loss in workforce potential, in the next 10 years, as production of goods items in factories would be largely taken up by the automation industry.
Already, most factories in Europe and America are currently having a good percentage of their production lines driven by automation technology.
The world Bank President, Jim Yong Kim, stated this on Thursday in Washingon, at an IMF-organised event.
Speaking on ‘The Impact of Modernisation and Technology,’ the bank’s chief said the developed world had already put in some measures on how their workforce is to survive impact of the fastest growing automation industry, as it affects manufacturing and other related factors.
“The advanced economies had suffered only about 30 per cent on early automation impact, because there was early retraining of the workforce, which reduced the anticipated impact.
“Nothing seems to be in place in the developing countries as to have similar response as a number of countries are still enmeshed in manual production, despite the global option for automation industry to be fully in place in a couple of years, ” Kim said.
Among the 70 countries surveyed by World Bank, Africa Continent tops the list of regions whose countries are to suffer most on workforce reduction rate, in line with phases of deployment of the advanced technology to takeover of some factory jobs.
Details of the countries in Africa that are not preparing for emergence of modern technology, which will have robot-driven machines do most works, included Nigeria, being classified along with Sierra Leone, Ethiopia and Kenya .
But the fear is that, if the modern technology impact is allowed to affect the Nigeria, as world Bank predicted, the country, with its labour market already swelling up yearly, due to poor economy that has stalled growth and employment, will be the worst hit, according to the organised labour.
South Africa, Egypt and Libya and Angola are the only African countries said to be responding positively towards reducing the social and economic impacts on workers that may be be negatively affected by the advanced technology when it takes over factory production lines.