The Federal government of Nigeria has disclosed that it would be creating some 3 million jobs in the next three years starting from 2016.
This was disclosed by Vice President, Prof Yemi Osinbajo after receipt of a document on job creation.
In a facebook post, he revealed that the jobs in question will be provided in the technology, wholesale & retail, construction and agro-allied sectors of the economy.
Osinbajo added that some 700,000 private sector jobs would be expected in the agro-allied sector, a figure which is different from the direct plans of government to employ over 500,000 graduates into the teaching sector.
The Nigeria Job Creation blueprint
The document entitled; ‘The Strategic Framework and Implementation Plan on Job Creation and Youth Employment in Nigeria’‘ was jointly packaged by the Job Creation Unit of the Presidency, and the Nigerian Economic Summit Group, NESG; as a roadmap to make jobs available to millions of unemployed Nigerians.
‘‘The central focus of President Buhari’s administration is the creation of jobs. Every proposed policy begins with “how many jobs can this policy create?” the Vice President wrote on his facebook page.
‘‘This year alone, over 700,000 private sector jobs will be created, majority of which will be in the Agro-allied sector,’‘ he added.
Nigeria’s unemployment crisis and APC’s 5000 Naira promise
During the last campaign, Buhari and the then opposition All Progressive’s Congress (APC) promised to pay 5000 Naira monthly allowance to unemployed graduates if voted into power.
But the government has since clarified that the allowances were meant for less privileged people in society whiles the plan for unemployed graduates was to create jobs for them despite the challenges.
We are not unaware that this process of job creation is slow but President Buhari is addressing the constraints in the business sector.— Prof Yemi Osinbajo (@ProfOsinbajo) March 16, 2016
‘‘We are not unaware that this process of job creation is slow but President Muhammadu Buhari’s administration is addressing the constraints of regulatory and institutional delays in the business sector,’‘ he added.
Nigeria’s Unemployment Statistics
Unemployment is a big issue in Africa’s most populated country and its biggest economy. Even though State Governments are tasked with job creation, the Federal government has a big responsibility to also create some more jobs.
According to Africa Check, a global think tank, in the first quarter of 2015, a total of 55.7 million Nigerians (75.9% of the labour force) were counted as employed and 5.5 million people (7.5%) as unemployed.
It adds that a further 12.2 million people (16.6%) – who would have been deemed “unemployed” are also classified as “underemployed”- meaning they are doing work that earns them some income but not within the formal sector.