Minister of Labour and Employment, Dr Chris Ngige, has said that Nigeria currently sits on a keg of gunpowder with her teeming youths within 18-40 years bracket remaining largely unemployed and susceptible to crimes.
He thus called for a multi-stakeholder approach in tackling the unemployment menace before the situation becomes unbearable and crumbles the country.
Ngige stated this in Abuja on Monday in his goodwill message at the formal launch of the 100 for 100 Policy on Production and Productivity (PPP); an intervention programme of the Central Bank of Nigeria (CBN), designed to guarantee sufficient financing and investments to enterprises with huge potential to create massive jobs, galvanise sustainable economic growth via exports, accelerate structural economic transformation and ultimately promote diversification and productivity.
The Labour Minister said the youthful population of the country should be leveraged on to build a strong economy, rather than leaving them unemployed and dangerous.
“We have a problem. The youths from 18-40 years are highly unemployed. We can see them join Boko Haram, Avengers, IPOB, etc. They’re jobless. They are doing nothing. We’re sitting on a keg of gunpowder and we need to address this challenge using initiatives like the 100 for 100 policy.
“Again, we’ve not adequately diversified the economy. For a mono economy relying heavily on crude oil receipts, we are still in danger. We know we have the CBN playing several roles but it’s good to keep the economy going. The fiscal and monetary authorities are like Siamese twins. They work together and should continue to do so” he explained.
Ngige admonished recipients of the CBN facility to remain highly productive as productivity remains paramount in addressing the socio-economic challenges of the country.
“Without productivity, you lag behind and this initiative is consistent with President Muhammadu Buhari’s plan to lift 100 million Nigerians out of poverty.
“We have no choice than to key into this initiative. We have a youthful population and we must use this to our advantage”, he added.
The Minister assured the apex bank of his ministry’s support in ensuring the success and sustainability of the 100 for 100 PPP.
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