About 39.4 million Nigerians, representing some 33.6% of the population may be left without jobs by the end of 2020, as a result of the Novel Coronavirus...
About 39.4 million Nigerians, representing some 33.6% of the population may be left without jobs by the end of 2020, as a result of the Novel Coronavirus Pandemic.
The Plan, themed ‘Bouncing Back: The Nigerian Economic Sustainability Plan’, however outlined a range of multi-sectoral remedies, which would take care of massive jobs creation through the agricultural and construction sectors, as well as lending support to the informal and small scale business sectors.
However, laying out the plans of government to mitigate the COVID-19 induced economic woes, Professor Osinbajo said his committee had designed ranges of responses to the threat, adding that the thrust would be to localise production and consumption. “Nigeria and Nigerians can produce our food, build our houses and construct our roads, using local materials in all cases. If we must import, it must be to support local production. We have therefore recommended that we must carry out mass programmes that create jobs and utilise local materials.
“We have also recommended - support for local production and manufacturing of all that is possible, including tech apps, software, shoes, garments, steel fabrication, ceramics and furniture, with the required capital and essential machinery. “Expansion of the Social Investment Programme, through an increase in the number cash transfer beneficiaries, N- Power volunteers and sundry traders enjoying small and micro loans through the MarketMoni and TraderMoni schemes. The preexisting conditional cash transfer will also be extended to cover a larger number of the extremely poor”, he said.
“The Economic Sustainability Committee, which is inter-Ministerial in nature, should only then remain to oversee plan implementation, ensure inter-ministerial co-ordination, and report regularly to the President, while expenditure is monitored through the National M&E framework and the Budget Office of the Federation”, he said.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Osinbajo: Over 39 million Nigerians may lose jobs in 2020Vice President Yemi Osinbajo says unemployment may rise to 33.6% or about 39.4 million people by the end of 2020, if the country “fail to take prompt preemptive measures”. Osinbajo said this on Thu…
Read more »
‘How 32-year-old man raped 80-year-old woman, 39 others in Kano’A 32-year-old man, Muhammad Alfa, popularly known as “Mai Siket” has been arrested by the police for allegedly raping an 80-year-old woman and 39 others in the past one year in Kano state Read more:
Read more »
COVID-19: 13 million jobs could be lost in Nigeria - UN - Daily Post NigeriaCOVID-19 may lead to the loss of 13 million jobs in Nigeria, the World Food Programme (WFP) of the United Nations (UN) said on Wednesday. WFP’s Senior
Read more »
COVID-19: FG To Arraign Owners Of Supermarkets, Pharmacies Over Price HikeCOVID-19: FG To Arraign Owners Of Supermarkets, Pharmacies Over Price Hike
Read more »
COVID-19 threatening 13 million jobs in Nigeria – UN|p style=
Read more »
New COVID-19 May Have Emerged In Summer 2019 – StudyNew COVID-19 May Have Emerged In Summer 2019 – Study
Read more »