Friday, December 4, 2020

Nigeria’s economic team proposes annual creation of 19 million new jobs



The Chairman of the Presidential Economic Advisory Council, Prof. Doyin Salami says Nigeria needs to create 19 million jobs yearly to solve the unemployment problem in the country.

Salami spoke at a webinar on privatisation organised by the Nigerian Stock Exchange, in collaboration with the Nigeria Governors’ Forum and the Nigerian Investment Promotion Council.

According to him, Nigeria currently has an investment to GDP ratio of 15 to 18 per cent.

He noted that the rate of underemployment and unemployment in the Nigerian labour force stood at around 54 per cent.

He stressed the need for the country to generate investment levels that could support growth that must exceed the rate of growth of population, currently estimated at about 3.2 per cent.