Youth empowerment: FG spending rises to N240bn in September

By Udeme Akpan

THE Federal Government financial commitment to the training, empowerment and employment of unemployed youths in Nigeria is set to rise by 80 per cent or N240 billion in September this year. The government is currently spending N6.9 billion monthly for 200,000 youths enlisted in the programme, targeted at tackling increasing youth unemployment estimated at 40 million persons.

The 200,000 youths are paid N300, 000 allowance and devices credit of N4,500 each on monthly basis. But investigations showed that the expenditure level would rise to N10.35 billion monthly, when it engages another set of 300,000 unemployed youths interested in renewable energy, welding, construction and other sectors next month.

Renewable energy

This means that the government’s total expenditure for the 24 months of the engagement would rise to N240 billion.

Mr. Afolabi Imoukhuede, the Senior Special Assistant to the President on Job Creation and Youth Employment, who confirmed the development in an email to Vanguard, stated that the government was committed to youth development. According to him, “The cost to government for 300,000 is N9 billion monthly, excluding devices credit of N1.35billion. So monthly exposure is N10.35billion for 24 months. This excludes the currently enlisted 200,000 that cost government N6.9billion monthly.”

Imoukhuede who disclosed that the youths would be exposed to theoretical and practical training as well as attached to reputable organisations for on-the-job experience, noted that while some organisations would engage many of them, others would have to form clusters to work for investors in different sectors of Nigeria’s economy.

Muda Yusuf, Director General of the Lagos Chamber of Commerce and Industry, LCCI, said the government has taken the right step towards addressing the nation’s unemployment problem. But he tasked the youths to explore options other than depending on the federal government alone for assistance.

While urging the youths to also explore opportunities provided by local and state governments, he said that some states, including Lagos have already created opportunities for youths to build their capacities in many sectors of the economy.

In his 2017 budget speech, President Muhammadu Buhari had stated that efforts would be made to build the capacity of Nigerians as well as create jobs for unemployed youths in the nation. He said, “The effort to diversify the economy and create jobs will continue with emphasis on agriculture, manufacturing, solid minerals and services. Mid and down-stream oil and gas sectors, are also key priority areas.

“We will prioritise investments in human capital development especially in education and health, as well as wider social inclusion through job creation, public works and social investments. Our plans also recognise that success in building a dynamic, competitive economy depends on construction of high quality national infrastructure and an improved business environment leveraging locally available resources. To achieve this, we will continue our goal of improving governance by enhancing public service delivery as well as securing life and property.”

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