The Minister of Youth and Sport Development, Sunday Dare, on Wednesday, said that Nigerian government have lost economic opportunities due to unemployment rate in the country.
Dare, speaking at the launch of the Nigerian Youth Employment Action Plan (NIYEAP 2021-2024) in Abuja, said that investment in youth development should be regarded as a viable investment to yield positive benefits for all spheres of socio-economic progress, rather than a group targeted for periodic empowerment interventions.
Nigeria’s unemployment rate, according to the National Bureau of Statistics data currently stands at 33.3 percent.
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According to the Minister, the plan was part of President Buhari administration’s efforts to drive the creation of 3.7 million jobs annually.
He said, “The priority themes of the plan, known as the 4Es are further delineated into strategic lines of action under each theme, with emphasis on sectors that have high job creation potentials.
“Sectors such as digital economy, rural economy, green economy and renewable energy sector, manufacturing, tourism, construction and services
“This is because youth inclusion is about skilled human capital, social and economic stability, a vibrant and healthy labour force, which will also engender political stability and national growth and development.”
The plan, according to him, would place emphasis on employability, entrepreneurship development, employment creation, and equality and rights.
He added that the plan will ensure the inclusion of partners across sectors and create a robust partnership base through which the government will ensure wider reach of youth employment programmes across the country.
“To ensure inclusion from the grassroots, the ministry of youth and sport will also be convening zonal inception workshops on the NIYEAP.
“Stakeholders from the 36 states and the Federal Capital Territory will be included in the implementation of the plan.
‘It is important to state that the economic and social consequences of youth unemployment transcend the youth group. It has also resulted in missed economic opportunities for the nation,” he said.