Minister of State, Federal Ministry of Labour and Employment, Festus Keyamo, has stated that Nigeria’s economic situation is not worse when compared to elites nations in the world that suffered the COVID -19 pandemic.
Keyamo said this at the inaugural meeting of the National Directorate of Employment Board held in Benin City on Sunday.
“Countries that are more viable economically have not been able to wriggle themselves out of the economic crises occasioned by the COVID-19 pandemic and, in trying to survive, they have further plugged themselves into huge debts but in the case of Nigeria, its government has been able to weather the storm without borrowing much.
“Many nations are collapsing all over the world leading to social unrest here and there but Nigeria is still managing its affairs very well”.
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He stated that the rate of unemployment has moved from 26 per cent to 33 per cent, saying ‘the only solution to cushion the effects of unemployment is for the Nigerian populace to learn a skill’.
Keyamo stated, “After the COVID pandemic, unemployment has risen to about 33 per cent, it was about 26 per cent before then. So, all agencies of governments are geared toward skilling up and empowering the population to ensure that they are self-employed. It is the only way out of the unemployment crisis in Nigeria.
“There is no way we can create spaces within public institutions to employ Nigerians and clean up the unemployment market.”
