FG to offer 2.5 million jobs via renewed hope labour and empowerment program – Tinubu
President Bola Ahmed Tinubu has revealed that the federal authorities is ready to launch the Renewed Hope Labour Employment and Empowerment Program (LEEP) later this month, which is predicted to create 2.5 million jobs.
This was introduced by President Bola Ahmed Tinubu throughout his speech marking Nigeria’s sixty fourth Independence Anniversary.
“As well as, later this month, we will launch The Renewed Hope Labour Employment and Empowerment Programme (LEEP). It’s conceived as a complete suite of interventions at job creation by the Federal Ministry of Labour and Employment that’s aimed toward facilitating the creation of two.5 million jobs, straight and not directly, on an annual incremental foundation while concurrently guaranteeing the welfare and security of staff throughout the nation.” He acknowledged
Tinubu acknowledged the challenges many Nigerians face, particularly with the rising price of dwelling and the seek for employment.
He reassured residents that the federal government is dedicated to assuaging these hardships and that persistence is required as reforms are steadily being carried out.
Backstory
Nigeria’s unemployment price has been a big concern, as latest knowledge exhibits a slight uptick within the first quarter of 2024. Based on the Nationwide Bureau of Statistics (NBS), the unemployment price rose to five.3%, a 0.3%-point enhance from 5.0% recorded in Q3 2023. This rise signifies the rising challenges within the labor market, regardless of authorities efforts to handle unemployment.
One encouraging improvement, nevertheless, is the slight decline in youth unemployment. The speed dropped to eight.4% in Q1 2024 from 8.6% within the earlier quarter, suggesting that extra younger persons are discovering work. Nevertheless, that is nonetheless a excessive determine, indicating that youth unemployment stays a crucial problem.
Unemployment for these with secondary schooling stood at 6.9%, and people with solely major schooling skilled a 4.0% unemployment price.
Nationwide safety and {economic} reforms
The President’s speech additionally touched on different key points, equivalent to enhancing safety within the northern areas, the place authorities forces have made progress in combatting insurgencies, and implementing reforms in numerous sectors to stimulate {economic} progress and enhance the standard of life for Nigerians.
This new initiative kinds a part of the federal government’s broader aim to advertise job creation, social welfare, and {economic} stability.
What it’s best to know
In an analogous push for job creation, the federal government has beforehand unveiled different initiatives aimed toward boosting employment in key sectors equivalent to cotton, textile, and manufacturing..
- Earlier this yr, the Federal Authorities launched the Nationwide Technique for Competitiveness in Uncooked Materials and Product Improvement, aiming to create 4.4 million jobs. This technique focuses on enhancing native content material in manufacturing, which can assist place Nigerian uncooked supplies and merchandise for international acceptance
- The federal government can also be working with the Worldwide Cotton Advisory Committee (ICAC) to revamp Nigeria’s cotton and textile business. Vice President Kashim Shettima revealed that the administration plans to create 1.4 million jobs yearly on this sector, which incorporates farming, ginning, and weaving .
- In step with these efforts, the Federal Authorities not too long ago commissioned MSME Clinics and ICT hubs in Makurdi, Benue State, that are anticipated to generate 48,000 jobs yearly. These hubs purpose to reinforce production within the vogue business whereas providing ICT coaching to spice up native industries .
- The SAPZ venture, launched by the Federal Authorities, will create 50,000 direct and oblique jobs over 5 years, with 40% of beneficiaries being girls.
