Article Summary
- Newly sworn-in president, Bola Ahmed- Tinubu revealed a series of steps he would take to position the country on the path of economic development, stability, and prosperity.
- He promised to reduce employment and encourage the light industry
- Others are promoting manufacturing and creating one million jobs in the digital economy
President Bola Tinubu, at the Eagle Square on Monday, in Abuja, took his oaths of office and allegiance as the 16th President of Nigeria.
Tinubu in his inaugural address at Eagle Square revealed a series of steps he would take to position the country on the path of economic development, stability and prosperity.
He said this as Nigerians have high hopes for a better Nigeria after being plagued with a high rate of unemployment, lack of access to productive inputs such as finance, lack of sufficient government stimulus, changes in government policies and so on.
Here are 4 key takeaways from tinubu’s inaugural speech concerning job creation:
1. Reduce the unemployment rate
President Bola Tinubu said his immediate target is to ensure a higher Gross Domestic Product (GDP) growth and enable a significant reduction in the unemployment rate.
He said that his administration hopes to achieve this through budgetary reform to stimulate the economy without engendering inflation.
2. Encourage light industry
He promised to work with the National Assembly to create omnibus jobs and prosperity bills that will give them the policy space to embark on labor-intensive infrastructural improvements and encourage light industry which will, in turn, create jobs.
3. Promote manufacturing
The industrial policy he proposes will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency which will create jobs in the real sector.
4. Create one million jobs in the digital economy
Technology is no doubt a fast-growing sector among the youths in Nigeria. Hence the new president has said his administration will fulfil his campaign promise to generate one million new jobs in the digital economy.
What others are saying
A lawyer, Mr Adenrele Adegborioye of BA Law Chambers, Lagos, stated that the inaugural speech was encouraging and would restore the hope of many Nigerians.
He said that focusing on employment amongst other things was encouraging. Adegborioye said that the president pointed out areas which needed immediate attention.
- “It is an indication that this new government means business and governance will no longer be business as usual.
- “Our prayer is that the president matches his inaugural speech with corresponding actions.
- “If that is done, Nigerians will surely smile again,” he said.
Malam Ahmed Soja, from Sokoto State, emphasized the need for Tinubu to apply novel ideas in tackling the issues of youths’ idleness and unemployment.
According to him, youths’ idleness and unemployment are one of the major factors responsible for insecurity in some parts of the country.