Buhari’s economic growth plan will generate 3.7m jobs annually - Minister of industry

Buhari’s economic growth plan will generate 3.7m jobs annually - Minister of industry

- Okechukwu Enelamah, the minister of industry, in has said that presidency's economic moves enshrined in the Economic Growth and Recovery Plan (EGRP) hold a promise of yielding about 3-7 million jobs for Nigerians each year

- Enelamah said that youths will be the chief beneficiaries of the Buhari-led economic growth scheme will be youths in the country

- The minister also said that the proposed employment opportunities will be created through investment in infrastructure and industrialisation

Okechukwu Enelamah, the minister of industry, trade and investment, on Wednesday, July 18, said the Economic Growth and Recovery Plan (EGRP) is aimed at creating not less than 3.7 million employment opportunities each year

The minister stated that the proposed jobs will be created through massive investment in infrastructure and industrialisation adding that the target beneficiaries will be youths in the country, Premium Times reports.

READ ALSO: Boko Haram has hindered demarcation of Cameroon-Nigeria border - UN

Speaking at a youth entrepreneurship summit, Enelamah said: "The involvement of small businesses in the service sector is a major lever for economic recovery. We have committed to reduce unemployment from 13.9 per cent as of Q3 2016 to 11.23 per cent by 2020.

"This translates to the creation of over 15 million jobs during the Plan horizon or an average of 3.7 million jobs per annum,”

“The EGRP envisages average GDP growth rate of 4.62 per cent per annum over the plan period. GDP is expected to gradually turn positive in 2018 and peak at 7 per cent per annum by 2020.”

“My ministry has been in the forefront of the efforts to make it easier for everyone (local and international investors) to do business in Nigeria. When we came into government, Nigeria was ranked No. 169 out of 190 countries.

The minister said the ERGP identifies “investing in our people” as one of three “strategic objectives” but the “execution priorities” do not fully reflect people’s needs, “prioritising physical capital over human capital”.

He went on to stated: “What Bill Gates was talking about was the budgetary allocation to create more money that will go into things like healthcare and education of which we agreed but we need to create the revenue first before we can send them back to the social sector,” the minister said while taking questions from journalists.

“ERGP envisages that if you invest in infrastructure, it will help create jobs and revenue for you to be able to invest in health and education. I don’t think our views and that of Gates is in conflict, it’s a matter of sequencing, they go hand in hand.

"We hold a stronger view of investing heavily on infrastructure so that we create opportunity for people while also working in the social sectors, healthcare and education in partnership with the likes of Technoserve, Gates foundation and others.”

Enelamah revealed that the federal government is partnering with Technoserve, a United States-based non-governmental organisation, by providing the enabling environment for the youth to thrive.

He said: “Technoserve is doing a very good work in improving livelihood of youtharound Nigeria and Africa. The partnership is to leverage technology and ‘know how’ to help our people be empowered. We have to create the enabling environment and policies to make these things work. That is where we come in.”

The Technoserve country director, Larry Umunna, stated that the event marks the end of the two-and-half year project funded by Citi foundation which saw to the training and empowerment of about 500 youths in Abuja and Enugu.

PAY ATTENTION: Get the Latest Nigerian News Anywhere 24/7. Spend less on the Internet!

Umunna said: "This summit also provides us the opportunity to discuss issues that affect youth entrepreneurship in Nigeria, the idea is to discuss issues affecting youth and how we can help to reduce the scourge of youth employment.” The director enumerated several empowerment projects carried out by the organisation.

Meanwhile, NAIJ.com reported that the presidency on Friday, June 1, declared that it had released a document outlining the policy and programme achievements of the President Muhammadu Buhari-led administration since its inception three years ago.

According to a statement by the senior special assistant to the president on media and publicity, Garba Shehu, the 41-page document highlights the administration’s successes in the economy, security and the fight against corruption, “which are the three priorities of the government’s change agenda."

List President Buhari's achievements in two years - On NAIJ.com TV

Subscribe to watch new videos

Source: Naija.ng

Related news
Service chiefs speak on two and a half meeting with President Buhari

Service chiefs speak on two and a half meeting with President Buhari

Service chiefs speak on two and a half meeting with President Buhari
NAIJ.com
Mailfire view pixel