Ngige Blames Increased Youth Unemployment On 2008 Economic Recession

The Minister of Labour and Employment, Chris Ngige, says the economic recession which Nigeria experienced in 2008 is responsible for the rising rate of youth unemployment.

He noted that although the N-power programme has recorded some success, the Federal Government is yet to achieve its target of reducing unemployment in Nigeria.

Ngige disclosed this on Tuesday during the sixth Africa Social Partners summit hosted by the Nigeria Employers’ Consultative Association (NECA), in Lagos.

READ ALSO: Lawan Begs WHO To Help Nigeria End Tuberculosis

“So, we have used this (N-power scheme) and drastically reduced youth unemployment but we have not gotten to our target because most African government, Nigeria inclusive, we have some bad effects of the recession that started since 2008.

“That recession may have cleared *sic* in Europe and other climes, but in Africa, the effect of the recession still abound.

“Nigeria is a country that is dependent on oil revenue. It is of late that the government of Muhammadu Buhari started a diversification programme by which we now have other things to export,” the Minister said.

Also at the event, the International Labour Organisation (ILO) and its social partners offered an insight into how African countries can reduce rising unemployment rate, especially among the youth population.

The director-general of the NECA, Timothy Olawale, warned that Africa could be sitting on a time bomb unless drastic measures were taken to address increased youth unemployment on the continent.

He believes that industries will thrive if the political space allows for job creation by putting in place policies that will be favourable for employers.

He further analysed that there will be less crime and social peace in Africa if there are more jobs as economic growth creates jobs.

According to the Blueprint for Jobs in Africa which was adopted by the social partners in December 2015 in Casablanca, 63 per cent of the African population is less than 25 years old.

The Blueprint further showed that every month, at least one million young people on the continent enter the job market. And out of about 73 million jobs created on the continent in the past few years, only about 16 million jobs were grabbed by the youth population of Africa which is put at over 200 million people.

At the summit, the ILO submitted that the number of productive jobs in Africa would have to increase by over 300 million or some 26 million per year, more than doubling the number of existing productive jobs to reach 579 million by 2030.

FG Is Committed To Tackling Youth Unemployment – Osinbajo

Vice President Yemi Osinbajo (middle), Enugu State Governor Ifeanyi Ugwuanyi (fifth right), Minister of labour and productivity, Chris Ngige (second left) and others during the formal launch of the N-Power Build in Enugu State on Friday, May 18.


Vice President Yemi Osibanjo on Friday said the Federal Government is not relenting in tackling the issue of youth unemployment in the country.

According to the Vice President, a total of 250 standard training centres have been approved across the country to train 20,000 youths under the 2017 budget at the cost of N20billion with monthly stipend mapped out for the youth for a period of one year.

The Vice-President disclosed this on Friday during the official launch of the N-Power Build programme. The programme is aimed at engaging and training 75,000 young unemployed Nigerians in order to build a new crop of a skilled and highly competent workforce of technicians, artisans and service professionals.

READ ALSO: Osinbajo Visits Enugu, Launches N-Power Build

Osinbajo explained that the training which is in seven component comprises automotive, carpentry and joinery, electrical installation, masonry, painting and decorations, plumbing/pipe fitting and welding and fabrication.

This he said will go a long way in addressing the issue of youth unemployment.

Vice President Yemi Osinbajo in Enugu State where he launched the N-Power Build programme on Friday, May 18.

Obasanjo Advises FG On How To End Terrorism In Nigeria

ObasanjoFormer President, Mr Olusegun Obasanjo has advised the Federal Government to manage Nigeria’s democracy and terrorists without resorting to brute force.

The former president, who spoke on the state of the nation, reminded the Federal Government that his administration fought corruption using agencies like the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Nigeria Extractive Industries Transparency Initiative (NEITI) to give the nation some level of integrity.

He warned that the dwindling economy and questionable character of leadership has ways of degenerating into physical violence.

Mr Obasanjo also criticized the government and the national assembly and accused the executive and legislative arms of government of being corrupt.

The Former President also spoke at length on President Jonathan’s handling of the economy and youth unemployment and urged the Federal Government to concentrate on education in the north-east.
Speaking during the public presentation of “The Story Of My Two Worlds; Challenges, Experiences And Achievements” written by Justice Mustapha Akanbi in Abuja, Mr. Obasanjo berated the high level of corruption in the national Assembly.

He also accused the Federal Government of making direct payments to the legislature in order to cover up its wrong doings.

“Corruption in the National Assembly also includes what they call constituency projects which they give to their agents to execute but invariably, full payment is made with little or no job done.

“In all this, if the executive is not absolutely above board, the offending members of the National Assembly resort to subtle or open threat, intimidation and blackmail. When the executive pay the huge money, normally in millions of dollars, all is quiet in form of whitewashed reports that fail to deal effectively with the issues investigated”, he said.

He however, noted that the National Assembly still has some lawmakers that have refused to be corrupt by others and wll not do anything to get invovled in corrupt practices.

“When the guard is the thief, only God can keep the house safe and secure,” he said. “But I am optimistic that sooner than later, we will overcome.

“God will give us guards of integrity and honesty with the fear of God and genuine love of their people and their country.

“Today, there is no institution of government that is not riddled with corruption, not even the military. As the people cry out, where then is the salvation.”

Mr Obasanjo also noted that “what the public know or see of the economy is not what the economy truly is.

“The economy is in the doldrums, if not in reverse. The often-quoted GDP (gross domestic product) growth neither reflects on the living condition of most of our people, nor on most of the indigenous industries and services where capacity utilization is almost 50 per cent,” he added.

Sustainable Banking Principles, Addressing Environmental And Social Challenges

There seems to be more global awareness by banking institutions in recent times towards addressing the environmental and social impacts of their services.

In Nigeria, there is a set of principles on sustainable banking which is geared towards ensuring that these financial institutions are environmentally friendly.

Bank’s financial services are used too often for activities which are harmful to the environment, human rights and social equity.

However, in whatever way we look at it, banks can be powerful agents of change.

Environmentalist, Lekan Fadina, helps to highlight the economic relevance of climate change to businesses and return of investments.

Fadina lauded the Sustainable Banking Principles as adopted by Nigerian banks in the year 2012. He noted that if properly implemented, it would address the issues of environment, economy and all that could be as a result of climate change.

Special Assistant to the CBN Governor of Sustainable Banking, Dr Aisha Mahmud, explained that there are certain global forces that are making businesses and organisations to imbibe sustainability, such as the recent financial crisis.”

She however said, “Nationally there are pressing environmental and social issues, such as poverty, youth unemployment, gender inequality, climate change, deforestation, food insecurity that made the Nigerian financial sector to come together and develop this Nigerian Sustainable Banking Principles.

“Basically what it means is that, instead of focusing on profit, we now have to do a balancing act and look at environmental and social considerations as well, and this is for us to be able to achieve sustainable development.”

Earthfile presents how the financial institutions would do their business operations and activities to achieve the goals of the Sustainable Banking Principles.  It starts by highlighting the environmental and social risks involved in their operations.

Enjoy the video.

Labour Minister Says Millions of Jobs Have Been Created

Minister of Labour and Productivity; Emeka Wogu says the unemployment situation is global and not just in Nigeria and to address the issue the administration has so far created millions of jobs.

While speaking as a guest on ‘View From the Top’ the honourable minister acknowledged that unemployment is a global problem but also stated that the Jonathan administration in collaboration with his ministry has found solutions for unemployment in the pipeline.

“When people talk about unemployment, they try to situate it only within the African continent and particularly Nigeria, but the unemployment problem is global

But I want to tell you that the current administration under President Goodluck Ebele Jonathan has taken various initiative aimed at forcing the unemployment situation down”

The minister stated further that some innovative initiatives, compared to other countries, had been put in place by the administration in a bid to tackle the unemployment issue in the country .

He however claimed that the Jonathan administration has created millions of jobs for Nigerians directly and indirectly, thanks to research work done by his ministry on 15 sectors like Agriculture where the minister said more than a million jobs have created in the sector alone.

He also stated that a scheme being run by his ministry has under its umbrella 3,000 individuals billed for empowerment.


Unemployment: Obasanjo Says Nigeria Is Sitting On Keg Of Gun Powder

Former President Olusegun Obasanjo has called on the Federal Government to develop the agricultural sector of the Nigerian economy in order to create job opportunities for the youth.

Delivering a lecture entitled ‘Managing agriculture as a business to unlock Nigeria’s agricultural potential’ at the Agricultural and Rural Management Training Institute (ARMTI), Ilorin Mr Obasanjo said going by the number of graduates produced in Nigeria annually, the government must develop new ways of job creation.

Poor Leadership Responsible For Failure In Agriculture – Obasanjo

Former President Olusegun Obasanjo has identified political instability, poor leadership and global trade imbalance as some of the factors militating against rapid growth of agriculture in Nigeria.

Mr Obasanjo, who also listed weak financial market and rural financial institutions, however challenged the federal government to urgently find solution to joblessness among the youths to avert future crisis.

The hall of the Agricultural and Rural Management Training Institute (ARMTI), Ilorin was filled with stakeholders in agricultural sector who came to share from the practical experience of the man who established Operation Feed the Nation as a military head of state over three decades ago.

Delivering the sixteenth lecture entitled ‘Managing agriculture as a business to unlock Nigeria’s agricultural potential’ Mr Obasanjo painted a gloomy picture of how one billion people out of the seven billion throughout the world lack access to adequate food and nutrition.

He listed many factors which include violent conflict and political instability, poor leadership, global trade imbalance and weak financial markets as responsible stagnation or slow growth witnessed in agricultural development in Nigeria.

The former president called for constant training, skills development, personal empowerment and entrepreneurship for the resuscitation of the agricultural sector in the country.

He however sounds a note of warning to the federal government to avert the repercussion of what he called ‘sitting on a keg of gun powder’.

Youth Employment Will Eradicate Boko Haram – Borno Governor

The Governor of Borno State, Kashim Shettima, has said that the “madness” occasioned by the activities of radical sect, Boko Haram in the state would “evaporate” once the youths are gainfully engaged.

The Governor of Borno State, Kashim Shettima

Mr Shettima, who spoke on Tuesday at the signing of tripartite agreement for the establishment of the Central Bank of Nigeria (CBN) Entrepreneurship Development Centres (EDCs) in three geo-political zones, including the North-east, North-central and South-south zones, said he believed the insecurity and hardship in the state would be a thing of the past once it was able to create jobs and engage the youths.

The governor said, “We are going to partner with the CBN to see to the realisation of this very noble and lofty initiative of the central bank towards ameliorating poverty and creating employment opportunities in the northeast sub-region of the country.

“We are not going to disappoint you; we would fulfil our own part of the bargain of the EDC and create the enabling environment for the EDC in the North-east sub-region,” he assured.

“Believe me, beneath the mayhem of Boko Haram, beneath the madness, lies extreme poverty and joblessness and hopelessness of the people. Once we create jobs, once we engage the youths, believe me, this madness will evaporate,” the governor stated.

He said he believed the issue of Boko Haram would be a thing of the past within the next two years.

Sambo says youth unemployment is unacceptable to Jonathan

Vice President Namadi Sambo on Tuesday said that the current global phenomenon of youth unemployment is unacceptable to the Goodluck Jonathan administration.

The vice president said this at the inauguration of and technical workshop for states implementation committees of the community services, women and youth employment of the Subsidy Reinvestment Programme (SURE-P) in the presidential villa, Abuja.

He said youth unemployment rate which is at 50 percent in several nations was the reason the federal government has evolved innovative methods of tackling the challenges of unemployment and that for decades, the country has been faced with high unemployment rates among the youths and strategies and institutional mechanisms put in place to create wealth have not yielded much result.

According to him, the community service programme inaugurated was to fast-track the design to employ 320,000 of the unskilled youth, women and citizens with physical challenges annually, noting that the programme and graduate internship scheme designed to train 50,000 graduates in private companies are part of the benefits of the partial subsidy removal under SURE-P.

While urging each sector of the economy to play its role in contributing to job creation, Mr Sambo said “the present effort under the SURE-P therefore builds partnership between the tiers of government on the one hand and across sectors on the other.”

He said in order to hasten the achievement of the programme; State Implementation Committees (SIC) have been established in each state and the federal capital territory, not only to guide the implementation at the state level, but to also serve as a platform for strengthening partnerships with states and local governments on employment creation.

Mr Sambo urged members of the committee to live up to expectations of government and justify the confidence reposed in them by their nomination for the assignment. He also warned them that “government would not tolerate any act of wrongdoing or corruption in the programme” as their inauguration was an act of matching words with action by the federation government.

In his remark, the chairman of SURE-P, Christopher Kolade, acknowledged the support which President Jonathan and Vice President Sambo have given to the programme. He said contractors in the programme and midwives have not been owed as they are paid promptly.

The Co-ordinating Minister of the Economy and Minister of finance, Ngozi Okonjo-Iweala, Ministers of Women Affairs, Labour, Minister of State for Federal Capital Territory and representatives of the Minister of Water Resources and others attended the event.