Job creation’ll boost economy– Engineer

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Posted on July 6, 2018

 


The social and economic fortunes of Nigeria will improve tremendously if its citizens, particularly the teeming youth, can be put to work constructively.

An engineer from Ajura in the Obafemi Owode Local Government Area of Ogun State, Misbau Aminu, stated this.

He stressed that the development of any nation would depend principally on the quality of its human capital.

Aminu, who is an aspirant for the House of Representatives under the All Progressive Congress in Ogun State, said a lot needed to be done in industrialisation, research and development to improve household income and ensure the development of the country.

“Let’s take a look at Nigeria’s economy today, which is less than a half of a trillion dollars and juxtapose that with our population, we have GDP per head of $2,700. This is far behind South Africa’s over $8,000 and China’s over $15,000.

He said. Compared to Nigeria, the economy was better in China, the United Kingdom and the USA because they did things differently.

For instance, Aminu said that China and other cited nations had been able to utilise its huge population by putting many of their citizens to work.

Nigeria’s population is about 180 million with 60 per cent youthful demography but operating under capacity, the productivity is very low with attendant poverty.

Aminu said only few Nigerians were working to sustain the large number of people. “The economy cannot have significant growth unless we put people to work,” adding that whatever growth being experienced was on paper and not in the people.

He said if the system could be reformed “to put the youth and the jobless to work, the productivity will improve; households’ earnings will increase; households’ consumption will increase; the industries will flourish and lives will be meaningful. But when only the minority work, households’ spending will be weak and the companies will keep struggling to survive.”

According to him, it is easy to provide job opportunities for people to employment, but nation’s system makes it appear complex.

He said, “Within the financial basket, there are big deposit money banks, microfinance banks, few mortgage banks, few finance houses, merchant banks, venture capitalists and other financial institutions. The basket offers finances at exorbitant interest rates, microfinance banks offer finances at a higher rate than deposit money bank, which strangle businesses. The basket has no space for Small and Medium Enterprises. Ask small businesses where they source funds for development. They will tell you nowhere.”

The social and economic fortunes of Nigeria will improve tremendously if its citizens, particularly the teeming youth, can be put to work constructively.

An engineer from Ajura in the Obafemi Owode Local Government Area of Ogun State, Misbau Aminu, stated this.

He stressed that the development of any nation would depend principally on the quality of its human capital.

Aminu, who is an aspirant for the House of Representatives under the All Progressive Congress in Ogun State, said a lot needed to be done in industrialisation, research and development to improve household income and ensure the development of the country.

“Let’s take a look at Nigeria’s economy today, which is less than a half of a trillion dollars and juxtapose that with our population, we have GDP per head of $2,700. This is far behind South Africa’s over $8,000 and China’s over $15,000.

He said. Compared to Nigeria, the economy was better in China, the United Kingdom and the USA because they did things differently.

For instance, Aminu said that China and other cited nations had been able to utilise its huge population by putting many of their citizens to work.

Nigeria’s population is about 180 million with 60 per cent youthful demography but operating under capacity, the productivity is very low with attendant poverty.

Aminu said only few Nigerians were working to sustain the large number of people. “The economy cannot have significant growth unless we put people to work,” adding that whatever growth being experienced was on paper and not in the people.

He said if the system could be reformed “to put the youth and the jobless to work, the productivity will improve; households’ earnings will increase; households’ consumption will increase; the industries will flourish and lives will be meaningful. But when only the minority work, households’ spending will be weak and the companies will keep struggling to survive.”

According to him, it is easy to provide job opportunities for people to employment, but nation’s system makes it appear complex.

He said, “Within the financial basket, there are big deposit money banks, microfinance banks, few mortgage banks, few finance houses, merchant banks, venture capitalists and other financial institutions. The basket offers finances at exorbitant interest rates, microfinance banks offer finances at a higher rate than deposit money bank, which strangle businesses. The basket has no space for Small and Medium Enterprises. Ask small businesses where they source funds for development. They will tell you nowhere.”

Source: http://punchng.com/job-creationll-boost-economy-engineer/


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