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Sector operators proffer solution to unemployment

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Muda Yusuf, Director General, LCCI

Experts have charged government to vigorously pursue appropriate policies that promote job addition and end poverty as well as ensure forward integration to curb unemployment in the country.

This was as lack of economic inclusion in the federal government’s policies and programmes was identified as the cause of rising unemployment in the country.

Director-general of Lagos Chamber of Commerce and Industry (LCCI), Mr. Muda Yusuf, disclosed this to The Guardian at the 8th anniversary lecture and award ceremony of the Nigerian NewsDirect at the weekend.

He said government’s policies, programmes and infrastructure roadmaps must be geared towards promoting massive indigenous participation, particularly the unemployed who form major part of the population.

Unemployment rate in Nigeria increased by about 23.10 per cent in the third quarter of 2018 from 22.70 per cent in the second quarter.

The number of those without jobs averaged 12.31 per cent from 2006 until 2018, reaching an all-time high of 23.10 per cent last year. It had hit a record 5.10 per cent in the fourth quarter of 2010.

The LCCI boss noted inclusive growth as economic growth distributed fairly and which creates opportunities for.

Government’s policy must weigh the level of Small and Medium Scale Enterprises (SMEs) and other micro/macro-enterprises and ensure that every government project and policy incorporates aspect of inclusiveness as a major performance indicator, either for the micro-economy or the impact of infrastructure, he added.

Yusuf, who was the chairman of the occasion, spoke on ‘Indigenous participation/economic recovery and growth plans: Roles of corporate governance, bank credit, energy supply and infrastructure in Africa’.

Publisher of NewsDirect newspaper, Dr. Samuel Ibiyemi, said for Nigerians to benefit immensely from government’s economic recovery and growth plan, there was the need to improve the operating environment, so that businesses could thrive. He noted that lack of access to low interest credit and high cost goods and services stand as bearers for entrepreneurs to create jobs and expand business frontiers.

Dr. Ibiyemi said the theme of the lecture was selected to contribute to the national discourse on economic recovery and revitalisation, as it was chosen in accordance with the agenda-setting role of the media.

At the ceremony, the Minister of Power, Works and Housing, Mr. Babatunde Fashola, received the Man of the Year award, while the Emir of Kano, Alhaji Lamido Sanusi, was recognised as Africa’s Traditional Ruler of the Year.

The award for road infrastructure and healthcare went to Governor Bindow Jibrilla of Adamawa State, while Dr. Idiat Adebule of Lagos State was honoured as Outstanding Deputy Governor of the Year.

The rector of the Maritime Academy of Nigeria, Commodore Duja Effedua, won the Chief Executive Officer of the Year award, while the chairman of United Bank of Africa (UBA), Mr. Tony Elumelu, emerged Africa’s Entrepreneur of the Year.


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