FG to create 100,000 verifiable jobs by May 29, 2024

The Federal Government has said that it  plans to create no fewer than 100,000 verifiable jobs by May 29. Adekunle-Johnson spoke at the Inaugural Job Creation and MSME Quarterly Communications Forum, organised by the Job Creation and MSME Secretariat, Office of the Vice President. The presidential aide said that the federal government was focusing on job creation in partnership with the Federal Ministry of Labour and Employment. “We are saying that by May 29, we will create at least 100,000 jobs. The target is to create 384,000 jobs in four years,” he said. Adekunle-Johnson said the initiative would be a partnership between the Federal Government and Access Bank. Today’s programme is to announce our partnership with the Access Bank, how the bank is trying to support the government with regard to access to funding for MSMEs. Right now the interest rate for loans is between 27 and 29 per cent, but the Access bank is giving us at the rate of 15 per cent. 

The bank is committing N50 billion to support MSMEs. They are even now saying that if you are an MSME and you want to collect N1 to N3 million, don’t worry, the collateral that they need is simplified to enable you to have access to the money.” Earlier, the Minister of Information and National Orientation, Alhaji Mohammed Idris, said the Federal Government was committed to creating an enabling environment for MSMEs in the country. Represented by the Director-General, Voice of Nigeria, Malam Jibrin Ndace, Idris said that President Bola Tinubu’s Renewed Hope Agenda recognised job creation and MSMEs development as strong pillars for sustainable economic development. 

MSMEs are the essence of our economy, the main bastion for innovation, creating employment opportunities, and stimulating inclusive growth. (We) remain committed to improving the ease of doing business, access to financing, provision of critical infrastructure, capacity building and nurturing entrepreneurial skills, and creating market access, among other initiatives. The MSMEs in Nigeria have remained steadfast and resilient, demonstrating the ability to weather the storm in the face of enormous challenges, including the COVID-19 pandemic and its economic ramifications.”