Jobs - NEWS AGENCY OF NIGERIA

Philip Daniel Yatai
May, Wed, 2025

SMEDAN creates 90,000 jobs in Q1 2025

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By Lucy Ogalue

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) says it created more than 90,160 jobs and empowered 116,661 entrepreneurs across the country in the first quarter (Q1) of 2025.

Mr Charles Odii, Director-General of SMEDAN, made this known in a statement on Tuesday in Abuja, noting that the figures were contained in the agency’s Q1 performance report.

Odii attributed the achievements to targeted empowerment programmes and strategic collaborations with stakeholders in both the public and private sectors.

He said SMEDAN partnered with organisations such as Google, Wema Bank, and members of the National Assembly to train entrepreneurs in digital and financial literacy.

The partnerships, he said, also facilitated access to finance, markets, and essential tools for small businesses.

“SMEDAN also supported the formalisation of thousands of small businesses by assisting them with registration through the Corporate Affairs Commission (CAC), thereby enhancing their chances of accessing funding and participating in supply chains.

“In Q1 alone, we distributed 123,743 work tools, including laptops, mini-buses, industrial sewing machines, generators, and tricycles, to entrepreneurs in all 36 states,” Odii said.

He also highlighted the success of the SMEDAN Garment and Textile Hub at the Idu Industrial Development Centre in Abuja, which he described as a model for inclusive industrial development.

“The solar-powered hub, made possible through a partnership with the UNDP, enables fashion entrepreneurs to access affordable industrial machines and stable power supply, thereby increasing productivity and job creation.”

Odii reiterated the agency’s commitment to the “GROW Nigerian” strategy, focusing on Guidance, Resources, Opportunities, and Workforce support for SMEs.

“The result is more jobs, stronger businesses, and greater value unlocked within communities nationwide,” he added.

He noted that several strategic partnerships signed during the review period would begin to yield results in subsequent quarters, especially in areas like financing and value chain development.

Odii reaffirmed SMEDAN’s alignment with President Bola Tinubu’s Renewed Hope agenda, stressing that the agency remained committed to supporting MSMEs as drivers of inclusive economic growth. (NAN)

Edited by Abiemwense Moru

FG to reduce inflation, create more jobs- Edun

Ismail Abdulaziz
Apr, Sat, 2025

Foreign

FG to reduce inflation, create more jobs- Edun

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By Nana Musa

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the Federal Government plans to reduce inflation rate to single digit and create more jobs.

Edun stated this during a press conference addressed by the Nigerian economic team, as part of activities marking the end of the 2025 the International Monetary Fund (IMF) and World Bank Spring Meetings on Saturday in Washington D.C.

He said that the government was collaborating with development partners like the World Bank to create jobs for Nigerians in pursuit of sustainable employment and poverty eradication.

“The objective is to create jobs locally, empower youths, and support them through essential infrastructure.

“That includes digital infrastructure, access to data, internet, and fibre optic networks, to enable them to work remotely,” the minister said.

Edun said that the country’s unemployment rate had dropped to 4.3 per cent in the second quarter of 2024 from 5.3 per cent in first quarter 2024.

According to him, the world now faces a very uncertain future, but Nigeria is well positioned to survive the shocks in spite of heightened tensions, inflation, and declining global growth.

The minister also said that President Bola Tinubu’s reform agenda were working and the results were commendable.

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said that the government acknowledged the impact of inflationary pressures on the country.

“We recognise that inflation remains the most disruptive force to the economic welfare of Nigerians.

“Our policy stance is firmly focused on bringing inflation down to single digits in a sustainable manner over the medium term,” Cardoso said.

The CBN governor said that the painful reforms embarked upon by the country was now yielding positive results.

“At the IMF meetings the nation was a reference point of how reforms could change the economic trajectory of a nation for the better.

“The reforms are not easy, but they are delivering results. We have moved from a position of vulnerability towards one of growing strength,” he said.

Cardoso said that the significance of Nigeria’s efforts was restoring investors confidence.

“The country had a high-level investment forum at the Nasdaq Market Site in New York.

“That gave insights into the positive impact of the reforms and growing appetite for investment in Nigeria by Diaspora Nigerians and non-Nigerians.

“The New York forum delivered powerful outcomes, it significantly bolstered investor confidence in the country’s market fundamentals, with leading voices affirming the country’s economic progress and renewed standing as a compelling investment destination,” he said.

The CBN governor said that the country recorded a balance of payments surplus of 6.83 billion dollars in 2024, principally on the back of rising exports and capital inflows.

According to him, this has supported the stability of the domestic unit amidst boosted investor confidence, discouraged speculative arbitrage and closed the gap between official and parallel market rates.

Cardoso said that the recapitalisation efforts were gaining momentum with maximum support and compliance from all stakeholders in the banking sector.

He said that the Tinubu-led government planed to set the nation on an ambitious trajectory of becoming a one trillion dollar economy by 2030.

According to him, the CBN has set the capital base for financial lenders nationwide, highlighting its goal of enhancing banks’ ability to fund large-scale projects and drive economic activities.

“The banking sector recapitalisation is well underway, with strong momentum and stakeholder alignment,” Cardoso said.

The Chairman of the Senate Committee on Finance, Sen. Sani Musa, said that the country was doing well to reposition the financial system so as to restore confidence.

“The economic team of this administration is doing very well on the fiscal aspect of our economy, so that poverty will be reduced.

“I think we have done all the needful in terms of activities to the tax reform bills to make them workable,” he said.

The News Agency of Nigeria (NAN) recalls that the delegation, which was led by Edun, include Cardoso, Director-General of the Debt Management Office, Patience Oniha, and other top government officials.

NAN reports that the delegation had a series of meetings with fund managers, global financial leaders, and multilateral institutions investors.

Also, meetings were held with other development partners to cement existing relationships, create new partnerships and spread the news of the dividends of Nigeria’s economic reforms.(NAN)(www.nannews.ng)

Edited by Ismail Abdulaziz

Implementing SAPZs ‘ll create jobs, slash imports, boost naira — Adesina

Philip Daniel Yatai
Apr, Fri, 2025

Economy/Business

Implementing SAPZs ‘ll create jobs, slash imports, boost naira — Adesina

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By Lucy Ogalue

Dr Akinwumi Adesina, the African Development Bank’s President, says implementation of the Special Agro-Industrial Processing Zones (SAPZs) in Nigeria will reduce food imports, strengthen the Naira, and generate millions of jobs.

Adesina stated this on Thursday in Calabar, Cross River, at the groundbreaking of the SAPZ project on Thursday in Calabar.

He described it as a transformative initiative that would unlock the economic potential of Nigeria’s agricultural sector.

The AfDB president said for Nigeria to thrive, its rural areas must be awakened.

He said the country should not be importing food with its abundant arable land, cheap labour, and vast agro-ecological zones.

Nigeria should be completely self-sufficient in food and a significant exporter of food and agricultural commodities.

“By taking advantage of the special agro-industrial processing zones, Nigeria will now have the infrastructure and industrial platform to transform all its food and agricultural commodities.

“What a day we are celebrating today. The special agro-industrial processing zones will reduce food imports, conserve foreign exchange, expand production and processing of food and agricultural commodities.

“It will strengthen the Naira and attract significant private investment in agricultural value chains.

“The SAPCs will also revive and transform rural economies and create millions of jobs,” he said

Adesina commended the Federal Government for its commitment and strong political will under President Bola Tinubu, which he said had been pivotal to the rollout of the zones across multiple states.

He also lauded Vice President Kashim Shettima, for his consistent presence and unwavering support of the project.

“You have been the promoter, the facilitator, and the enabler of this vision. Your commitment speaks volumes,” he said.

The AfDB president reiterated that a financing package of $510 million had been secured for the first phase of the SAPZ programme in eight states and the Federal Capital Territory.

He said plans were underway to expand to 28 states in the second phase, backed by $2.2 billion from development partners.

Cross River State Governor, Sen. Bassey Otu, reaffirmed his administration’s commitment to harnessing the state’s vast agricultural potential to drive economic diversification and job creation.

“Our plan is to move from a non-renewable resource base to a sustainable agricultural economy that brings prosperity to every part of Cross River State,” Otu said.

He said the state would leverage its comparative advantage in the production of cocoa, palm oil, rice, and banana.

He said the state would also take advantage of its infrastructure, including the proposed Bakassi Deep Sea Port, Obudu Cargo Airport, and Calabar-Budu rail line, to support agro-industrialisation.

Vice President Shettima, in his remarks, reaffirmed the administration’s resolve to implement policies that would ensure food security, economic growth, and inclusive development.

Other dignitaries at the event included the Minister of Agriculture and Food Security, Sen. Abubakar Kyari, other government officials, senior officials from the AfDB and development partners and stakeholders.

The SAPZ programme is spearheaded by the AfDB in partnership with the Islamic Development Bank and the International Fund for Agricultural Development, and the government. (NAN)

Edited by Chinyere Joel-Nwokeoma

FG open to collaboration on job creation, says Dingyadi

Rabi'u Sani Ali
Jan, Fri, 2025

General News

FG open to collaboration on job creation, says Dingyadi

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By Joan Nwagwu

The Federal Government says it is open to collaboration with Non-Governmental Organisations (NGOs) to achieve its goal of creating meaningful employment opportunities.

Mr Muhammad Dingyadi, Minister of Labour and Employment, said this when he received a consortium of NGOs, led by its national head, Mr Daniel Black. on Thursday in Abuja.

The consortium of NGOs is part of the United Nations NGO Committee on Social Development.

Dingyadi expressed government’s readiness to collaborate with the civil society organisations in generating creative ideas on how to create safe jobs for its citizens.

He said the jobs include the blue collar jobs, for the unemployed, particularly the youth.

“The federal government’s objectives, as well as initiatives, in this area are to ensure that people get jobs they can call their own.

“Also, jobs that they have tried to establish on their own; not white collar jobs but jobs that can generate a lot of employment for our youths.

“Our mandate is to create opportunities for jobs and to ensure the youths of the country are gainfully employed through several other means of engagement.

“We can collaborate to work towards creating jobs, very safe jobs for that matter, for our dear young men and women in the country,” he said.

On his part, Black, the leader of the group, said that they would be attending the 63rd session of the United Nations Commission for Social Development scheduled for February in New York.

Black said they would be sharing Nigeria’s social development experience at the event.

He said that in preparation for participation in the session, they would hold a United Nations Social Development workshop in Abuja.

He said the workshop was to foster collaboration between the government and Civil Society Organisations, to increase and improve the social development indicators in Nigeria.

“At the end of that workshop, we are going to develop a report that we will be presenting in New York during the 63rd session of the United Nations Commission for Social Development.

“The report will highlight the reality of social development in Nigeria, and we will also be mentioning the roles that different parastatals and government ministries are playing to ensure that these social development indicators are improved,” he said.

He invited the ministry to the workshop to share insights on its activities to positively impact social development indices in the country, and the strong connection between labour, employment and decent work. (NAN)(www.nannews.ng)

Edited by Oluwole Sogunle

Youths: FG, World Bank to provide 10m jobs in 5 yrs – Official

Rabi'u Sani Ali
Nov, Fri, 2024

General News

Youths: FG, World Bank to provide 10m jobs in 5 yrs – Official

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By Franca Ofili

The Federal Government says it will collaborate with the World Bank, to provide decent jobs directly or indirectly to 10 million youths within the next five years.

Mr Ayodele Olawande, Minister of Youth Development, said this when he hosted the World Bank team led by Mr Maheshwor Shrestha, World Bank Economist, on Thursday in Abuja.

Olawande said that forum would enable him to update the team on the various activities and engagements of the ministry in the past months.

“The focus of the ministry has been to achieve the establishment of a strong coordinated mechanism for all youth intervention focused on economic inclusion and we want data to inform all we do.

”Provide decent jobs directly or indirectly for at least, 10 million youths within the next five years and ensure that every youth is proficient in at least, two income generating skills.

“Expand our credit support funds by 50 million dollars to reach more young people, including businesses led by going women, people with disabilities and young people in rural areas.’’

The minister said the current reality showed that 60 million youths were in the labour bracket, and an additional 5.5 million would join the labour market every year.

He said that almost 58 per cent of Nigeria’s informal workforce was young people.

“Despite these data, we see these opportunities for the development of the country if harnessed effectively,” he said.

Olawande said the challenges hinged on deficient skills for job market, relevant vocational training and lack of access to capital and funds safety with infrastructural deficit.

In his speech, Shrestha said that no fewer than 60 million youths in Nigeria were underage at the moment.

According to him, it means that Nigeria needs to create enough opportunities for a huge pool of youths that are already there and that will be joining the way.

He said that every year, 5 and a half million would reach paid working age.

Shrestha said that only seven per cent of the youths were engaged in paid jobs.

“And even those are not permanent jobs; there are still informal jobs. So, if we look at overall, 93 per cent of the youths are working in an informal sector.’’

According to him, the bank is figuring out how to improve safety net support towards such people, adding that, “what we are doing now is to think about how the framework applies at the state level.

“So, I think we are starting to work with the Governors’ Board of Secretaries to see how this approach applies at the state levels,” he said. (NAN)(www.nannews.ng)

Edited by Chijioke Okoronkwo