Federal Government to create 3.5 Million Jobs through NEDEP

The Federal Government through National Enterprise Development Programme has mapped out strategies to create 3.5 million jobs across the country through the development of the Micro, Small and Medium Enterprise sector.

The Minister of Trade and Investment, Mr. Olusegun Aganga, said NEDEP had been developed with the objective of harnessing the opportunities in the MSME sector to drive inclusive economic growth through skills training and development, job creation and wealth generation.

The minister, who spoke during the first stakeholders’ meeting on NEDEP, also added that the Federal Government would set up an SME council, comprising the federal, state and local governments to streamline and harmonise all SME development activities across the country in order to achieve maximum impact.

He said,

“If we are going to develop our economy and turn our quantity advantage into productive advantage, one of the most important sectors that we have to focus on is the MSME sector.
“Despite the little support the MSME sector has received over the years, the sector currently contributes to about 75 per cent of Nigeria’s Gross Domestic Product and employs more than 45 per cent of our people. Even developed economies rely heavily on MSMEs for job creation, wealth generation and inclusive economic growth.
“The National Enterprise Development Programme is an initiative spearheaded by the Federal Ministry of Trade and Investment and its three parastatals – the Bank of Industry, Small and Medium Enterprises Development Agency of Nigeria and the Industrial Training Fund.
“This is the first time ever that these three parastatals under my ministry are coming together to develop and implement a programme that will revolutionise the growth of the MSME sector in Nigeria. The development of NEDEP was guided by similar enterprise development models in Asia, Africa and the One Local Government One Product pilot projects in Kano and Niger states.
“Our objective is that within the next two years of implementing NEDEP, the programme will generate 3.5 million jobs and an estimated five million direct and indirect jobs.”

In order to ensure the successful implementation of the programme, ministry is partnering 17 state governments to provide specialised training and access to cheap funds to enable more MSMEs to increase their capacity to create jobs and generate wealth.

The ministry had also set up a monitoring and evaluation team, which would work with the National Bureau of Statistics to verify and validate all data relating to the number of jobs that would be created through NEDEP.

Aganga further said,

“Already, we have the support of 17 state governments that have been working with BOI, ITF and SMEDAN, in the area of MSMEs development, skills training and acquisition, as well as business services development.
“Part of our strategy is to create new clusters of businesses based on competitive and comparative advantages already identified through the One Local Government One Product initiative and raw materials mapping in the 774 Local Government Areas of the federation. In addition to this, unemployed youths will be recruited and trained as volunteers in all the 36 States and the Federal Capital Territory.”

Speaking during the event, the Minister of Youth Development, Mr. Inuwa Abdul-Kadir, commended the Ministry of Trade and Investment for the NEDEP initiative and for carrying all relevant stakeholders along, adding that his ministry would collaborate with the Trade and Investment ministry to ensure the successful implementation of the programme.

Source: Punchng.com

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Andy is the co-Founder of Ngcareers, Nigeria's Top Job Search and Career site. You can follow him on twitter via @andychukse

One Comment

  1. Bolaji says:

    its a programme that shows a progressive way forward to the economy

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