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Wednesday, October 5, 2022

Amidst rising unemployment rate, FG rolls out plan to create over 21 million jobs by 2025

The Federal Government has set to generate at least 21 million full-time jobs through massive investment in social infrastructure and services.

This was made known by the Minister of State for Finance, Budget and National Planning, Clem Agba, while speaking at a workshop on Harmonisation and Finalisation of Monitoring and Evaluation Framework for the Implementation of the Second National Programme of Action in Abuja.

According to the minister, the move was one of the outcomes of the current National Development Plan (2021-2025) that seeks to lift 35 million people out of poverty by 2025. Also, it is part of the plan in achieving the current administration’s commitment to lifting 100 million Nigerians out of poverty in 10 years.

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Nigeria’s current unemployment rate according to the National Bureau of Statistics (NBS) is 33%. It is projected to be 40% by 2023 as the poverty level keep rising and if challenges of insecurities are not tackled.

The minister explained that the development plan would also ensure that Nigeria unlocks its potential in all sectors of the economy.

Agba clarified: “Specifically, the plan aims to generate 21 million full-time jobs and lift 35 million people out of poverty by 2025, thus setting the stage for achieving the current administration’s commitment to lifting 100 million Nigerians out of poverty in 10 years.

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“It also seeks to, among others, invest massively in social infrastructure and services to alleviate poverty and enhance capacities to strengthen security and ensure good governance,” he said.

He also highlighted that the ministry, in line with its mandate and presidential approval, was in the process of finalising the development of the Nigeria Agenda 2050 – the country’s Perspective Development Plan – to replace the Nigeria Vision 2020.

The minister added: “I, therefore, urge other stakeholders, development partners and MDAs to mainstream and harmonise their sectoral plans and country strategies in line with the priorities of government as embedded in the plan to ensure full implementation.”

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