Objective of this research is to present argument in favor of the concept of entrepreneurial skill acquisition as a panacea for unemployment among youths in Nigeria. Based on a conceptual analysis, the study examines strategic industries in which youths should focus efforts in, in developing innovative skills that can stimulate self-employment, create jobs and enhance economic growth and development. The outcome from this research will guide efforts of youths and government towards strategic areas that can promote entrepreneurial practices in Nigeria. The implication of the research to Nigerian youth showed that there are presently strategic industrial sector in Nigeria that contribute to the GDP asides the Oil Sector. The researcher recommended among other things that facilitators of entrepreneurial skill training and workshop program, must ensure that skill being taught to the youth match the requirements of the strategic industries in Nigeria.