February 27, 2013

How govt can generate 3.5m jobs from key sectors – AIAE

African Institute for Applied Economics (AIAE) has released a research reports on how the Federal Government can meet its target of generating 3.5 million jobs from key sectors of the economy.

These sectors are Manufacturing, Agriculture, Solid Minerals, Aviation, housing /construction and the entertainment industry.

Speaking yesterday during the public presentation of the reports, three fellows of the Institute who conducted the research said that a well-articulated fiscal and monetary policy for these sectors is at the heart of attaining government’s job creation targets.

The researchers (Dr. Chukwuma Agu, Dr. Hyacinth Ichoku and and Dr. John Ataguba), pointed out that as commendable as government’s efforts to provide 3.5 million jobs from  these sectors is ,attainment of the target would be a mirage without a well-articulated industrial policy.

The research commissioned by African Economic Research Consortium (AERC) further showed  that public sector has been crowding out the private sector, stressing that the much talked about growth in Nigeria is ‘non pro-poor growth’ since the sectors that are growing still leave many unemployed.

The event was attended by stakeholders mostly from the south east region which include, Professor Stella Okunna, Commissioner for Economic Planning and Budget, Anambra State, Dr. Paul Nwadukwe who represented Commissioner for Agricultural and Rural Development, Anambra State, Chief Ikye Odoemalam who represented Permanent Secretary, Ministry of Finance, Abia State, Mr. Charles Ugwuonah State Director, Federal Ministry of Agriculture and Rural Development, who represented the Permanent Secretary, and Organized Private Sector, the academic community, and others.

The Executive Director of AIAE, Dr. Ifediora Amobi said the Institute would continue to open its platform for organisations and bodies to discuss topical social and economic issues capable of advancing the course of the economy.

“The work also examines the impact of sector of employment and selected demographic indicators at the household level on poverty.