FG to provide 5m Jobs from Post Covid-19 economic recovery plans

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The downturn of the economy as a result of the Coronavirus outbreak is a great cause of worry to Nigerians.

However, Nigeria’s Minister of Industry, Trade and Investment, Mr Adeniyi Adebayo has given Nigerians another reason to look on the bright side.

According to him, the Federal Government will  create five million jobs from its Post-COVID-19 economic recovery plans.

Mr Adeniyi Adebayo, made this known in a statement which was signed by his Special Assistant on Media and Publicity, Mr Julius Toba-Jegede on Thursday in Abuja.

He revealed that this plans is a progressive strategy to save about 1.4 million jobs of Nigerians, with 40 per cent of them in female-owned Micro, Small and Meduim Enterprises (MSMEs).

The minister also pointed out that, 10 per cent of the jobs to be created exists in businesses owned by people with special needs.

And that this is his ministry’s contribution in taking the lead role in the federal government’s delivery of Real Sector interventions of its Economic Sustainability Plan in the wake of the global pandemic.

This according to him, would be achieved through these three programmes: The MSMEs Survival Fund, The Guaranteed Offtake Stimulus Scheme and the Credit Support to MSMEs and Priority Sector.

These movement will also increase the production capacity and protect the MSMEs.

“These interventions will save and create about five million jobs, support continued operations and increase in production capacity in priority sectors and protect MSMEs from the shocks of the COVID-19 pandemic.

“We expect that the Survival Fund will save 1.4 million jobs across the country with 40 per cent of them in the female-owned MSMEs and 10 per cent in businesses owned by persons with special needs.

”The Guaranteed Off take Stimulus Scheme’s objective is to protect jobs, stimulate economic activities nationwide and protect the income of vulnerable MSMEs by guaranteeing offtake of items produced by these businesses.

“The scheme will save an additional 300,000 jobs in MSMEs nationwide”, he said.

He said that the healthcare, agro-processing, creative industry, local oil and gas and exports would also be involved in these scheme.

” These sectors include healthcare, agro-processing, creative industry, local oil and gas and exports.

“There will also be N150 billion Capitalisation Fund and a N50 billion Export Expansion Facility,” he said.

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