The President, Muhammadu Buhari, has
said Nigeria’s economy recorded five per cent growth in the second quarter of
2021, which is the highest in six years due to focus on job creation,
consistency in policy and innovation.
Buhari said this at the State House in Abuja on Tuesday,
during the launch of the Jubilee Fellows Programme which he said will further
consolidate on the success recorded.
The President listed some of the key drivers of economic
growth and diversification in the second quarter to include telecommunications,
transportation, electricity, agriculture and manufacturing.
“Tuesday, 22nd June, 2021, I set-up the National Poverty Reduction with Growth Strategy (NPRGS) steering committee to coordinate our work to fulfil my promise to lift 100 million Nigerians out of poverty in ten years. This is building on the positive results from the Economic Recovery and Growth Plan and the targeted response to the effects of the COVID-19 pandemic with the Economic Sustainability Plan.
“These efforts have yielded results with Nigeria recording
its biggest economic growth in six years with a GDP growth of 5 per cent in the
second quarter of 2021. The sectors that drove this growth are trade,
telecommunications, transportation, electricity, agriculture and manufacturing.
Each of these sectors showed significant improvement and thus created more jobs
for our populace.
“An important part of our policies and strategies is the
focus on employment and creating opportunities for our people. When this
government was elected in 2015, we committed to increasing job opportunities
for Nigerians and as part of our social investments programme we recruited
500,000 graduates into our N-power programme,’’ he noted.
A statement issued by the Special Adviser to the President
on Media and Publicity, Femi Adesina, said Buhari gave a directive in 2019 for
the number of graduates to be increased to one million.
“These graduates are recruited to work in agricultural,
health and education institutions across the country. The N-power programme
also has a non-graduate component that provides skills to tens of thousands of
Nigerians in areas such as technology, masonry, auto repairs, and carpentry.
“We estimate that about 2 million people join our labour
force annually. We continue to work with our partners to provide more
opportunities to create jobs and the Nigeria Jubilee Fellows Programme in
partnership with the United Nation’s Development Programme being one of such
opportunities,’’ he added.
The President said, “The jubilee programme will provide a
pathway for young Nigerians to gain work experience in top tier organisations,
gaining relevant skills and building the right networks for the future in
various sectors including information and communications technology, financial
services, trade, manufacturing, agriculture and agro-processing.
“Other sectors include mining, telecommunications, creative
industries and technology, education, health, research and development, and
public sector institutions. We believe that building the right skills and
experiences across these sectors are important to sustain the economic growth
we are experiencing.’’
He said the programme will build on other efforts of the
government to support young Nigerians such as the N75 billion youth fund in the
Ministry of Youth and Sports Development, which was created to support young
Nigerians in business or with business ideas, with N25 billion released
annually for three years.
“The Economic Sustainability Plan (ESP) was our response to
the COVID-19 pandemic. We have set-up a survival fund which has helped many
businesses stay afloat in the worst economic periods of the last 5 years, more
than one million Nigerians have benefitted from the fund, with more than
500,000 benefitting from the MSMEs Payroll support track, approximately 270,000
beneficiaries of the artisan support track, and about 50,000 beneficiaries of
the MSME grant scheme,’’ the President added.
He said the International Labour Organisation estimated
equivalent of an unprecedented 255 million jobs being lost around the world as
a result of the COVID-19 pandemic.
President Buhari noted that the Nigeria Jubilee Fellows
Programme, being a fully paid post-NYSC work placement programme would provide
an opportunity for mentors who were already engaged in various industries,
gained relevant experience and built capacity over the years to provide
mentorship and support for young Nigerians.
“Beyond the skills and work experience, we will be building
a new culture of mentorship and guidance that can chart a new course for skills
development and work experience in our country.
“We believe that as this programme creates new opportunities
for 20,000 recent graduates annually, the beneficiaries will use the
opportunities presented to them and maximize their 12 months of engagement,’’
he said.
The President encouraged all eligible Nigerians to apply for
the jubilee programme, while urging private sector organizations to join by
providing work placement opportunities, mentors and funding.
“I would like to say thank you to the United Nations Development
Programme and the European Union for their support on this vital initiative.
And I hereby declare the program open,’’ he said.
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