Rédaction Africa Links 24 with Rachael Omidiji
Published on 2024-02-23 16:19:08
The federal government recently unveiled its ambitious plan to generate a minimum of 100,000 jobs by May 29, 2024. This exciting announcement was made by Temitola Adekunle-Johnson, the Senior Special Assistant to the President on Micro, Small, and Medium Enterprises (MSMEs) and Job Creation, during the inaugural Job Creation and MSME Quarterly Communications Forum held in Abuja.
Adekunle-Johnson detailed the government’s partnership with the Federal Ministry of Labour and Employment, with the primary objective being job creation. The overarching goal is to deliver 100,000 job opportunities by May 29 and a total of 384,000 jobs over the next four years. This initiative aims to bolster the economy and provide much-needed employment opportunities for citizens.
Furthermore, Adekunle-Johnson highlighted a strategic collaboration with Access Bank to bolster the job creation initiative. Access Bank has pledged N50 billion to support MSMEs by providing loans at a reduced interest rate of 15%, significantly lower than the prevailing 27-29% rates. Moreover, the bank has streamlined the loan application process, facilitating easier access to funds ranging from N1 to N3 million for MSMEs.
During the announcement, Adekunle-Johnson stated, “Today’s program is to unveil our partnership with Access Bank and how the bank is contributing to government efforts to enhance funding accessibility for MSMEs. Currently, loan interest rates range from 27 to 29 percent, but Access Bank is offering loans at 15 percent interest rate. The bank has allocated N50 billion to support MSMEs and has simplified collateral requirements for MSMEs seeking loans between N1 to N3 million.”
The Minister of Information and National Orientation, Mohammed Idris, also underscored the government’s unwavering commitment to creating a conducive environment for MSMEs to thrive. Acknowledging the significance of job creation and MSME development in driving sustainable economic growth, Idris emphasized that these efforts align with President Bola Tinubu’s Renewed Hope Agenda, which recognizes these elements as critical pillars for the nation’s advancement.
In conclusion, the government’s initiative to generate 100,000 jobs by May 29, 2024, and a total of 384,000 jobs over the next four years demonstrates a strong commitment to fostering economic growth and providing employment opportunities for Nigerian citizens. The collaboration with Access Bank further underscores the government’s dedication to supporting MSMEs and creating a conducive environment for their success. By prioritizing job creation and MSME development, the government is poised to drive sustainable economic growth and propel the nation towards a brighter future.
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