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Requisite Skills Way To Go To Fixing Unemployment – Sir Air

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Sir Joseph Ari, Director General of the Industrial Training Fund (ITF) on Thursday said adequate acquisition of relevant skills by Nigerians will go a long way to address the nation’s unemployment problem.

Sir Ari, said this at a press conference on ITF-NECA Technical Skills Development Project (TSDP) and the signing of Memorandum of Understanding with participating organisations in Abuja, Nigeria’s capital.

TSDP, is a joint initiative by the Industrial Training Fund (ITF) and Nigeria Employers’ Consultative Association (NECA) designed to promote the availability of middle-level manpower with the appropriate Technical and Vocational Skills to meet the identified needs of industries in the country.

Ari, said that unemployment in Nigeria is occasioned by lack of skills acquisition and skills mismatch, adding that sometimes where job vacancies exist, there are no Nigerians with requisite and technical know-how to fill them

He said: What you are about to witness is the perfect example of how the public private partnership can work. The two body that is the Nigeeia Employers’ Constructive Association (NECA) and Industrial Training Fund (ITF) have been advocating for this country to delve into Technical and Vocational Education and Training (TVET) but out calls have always fallen on deaf ears.

However, of recent, we have seen members of both the public and private body taking a cue and falling in line and listening to these yearnings and clarion calls from NECA and ITF.

“For the avoidance of doubt, this is the only direction to go, if we are to fix the infrastructural deficit and get our people empowered with requisite skills.

“This is what other nations in other climes have done to get to where they are and where they are now today known as the first world. The are where they are today on account of TVET and we cannot be left behind.

“Paper qualification is good but without skills you can’t fix infrastructure. Therefore, we shall continue to sing this clarion call, until all Nigerians embrace technical skills as the way to go in fixing the rots in our country.”

Speaking further on the Technical Skills Development Project, Sir Ari said the scheme has produced over 54,000 technicians in various vocations since inception twelve years ago.

He also explained that some of the trainees of the project have been provided with business start-up grants while others were linked to corporate employers for direct employment.

“From mere six participating organizations that trained and graduated 285 highly skilled technicians when it commenced in 2010, the project today boasts of having supported fifty-nine participating organizations and technical colleges with machinery and technical equipment, while also graduating 54,603 highly skilled technicians that are either employed in corporate organizations or have become entrepreneurs that are employing others,” Sir Ari said.

Ari, however, identified funding constraints, high rate of unemployed youths that the project cannot absorb, lack of awareness and infrastructural deficit as some of the challenges confronting the scheme.

Speaking on the sidelines, Director, Learning Development and Project, NECA, Celine Oni said for the 12 years the project has been on, there has been positive good results which is very evident.

She said: “This project was conceived based on lack of skills in our economy and surveys conducted by the ITF and NECA in 2009 and several other surveys therefore, confirmed the fact that we had low capacity level, lack of skills and huge unemployment in our country.

“The project rose to the call to address this issues and we decided to contribute our own bit to solving this national problem and so far we are very happy that in the twelve years of the project, they have improved results.

“Over 54,000 youths so far in the project have graduated as competent technicians that are either working in organisations currently or are running their businesses and are now Employers of labour.

Oni, further said the Memorandum of Understanding signed by 30 participating organizations is to ensure global standard training for trainees to enable them compete globally.

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Business & Economy

Tinubu Welcomes Nigeria’s Removal from FATF Grey List, Pledges Continued Financial Reforms

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President Bola Ahmed Tinubu has welcomed the removal of Nigeria from the Financial Action Task Force (FATF) grey list, describing it as a major milestone in the nation’s economic reform and global credibility drive.

The FATF, the world’s foremost body for combating money laundering, terrorist financing, and proliferation financing, announced Nigeria’s delisting on Friday at its plenary session in Paris, France.

The decision formally removes Nigeria from the list of countries under increased monitoring, following the nation’s successful completion of its FATF Action Plan after over two years of sustained reforms and inter-agency coordination.

In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu said the development reflects Nigeria’s progress in strengthening its Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework.

“Rather than treat our placement on the grey list in 2023 as a setback, we saw it as a call to action,” the President said. “This delisting is a strategic victory for our economy and a renewed vote of confidence in Nigeria’s financial governance.”

The President credited the achievement to far-reaching legal, institutional, and operational reforms implemented under his administration through the Nigerian Financial Intelligence Unit (NFIU), in collaboration with the Attorney-General of the Federation, the Minister of Finance and Coordinating Minister of the Economy, and other key ministries.

Tinubu commended the Director/CEO of the NFIU, Ms. Hafsat Abubakar Bakari, and her team for their diligence and professionalism, as well as the contributions of several ministries, agencies, and private sector representatives who participated in the National Task Force on AML/CFT.

He also acknowledged the support of international partners including France, Germany, the United Kingdom, the United States, the United Nations, and the European Commission, for their technical assistance throughout Nigeria’s reform process.

President Tinubu assured that his administration will sustain and deepen the reforms that led to the country’s delisting.

“This is not just a technical accomplishment,” he said. “It marks the beginning of a new chapter in our financial reform agenda as we continue building a system Nigerians and the world can trust.”

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Lagos Tops 2024 State Revenue Ranking with ₦1.26 Trillion — NBS Report

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Lagos State has retained its position as Nigeria’s highest internally generated revenue (IGR) state in 2024, according to a new report released by the National Bureau of Statistics (NBS).

The report, published on Monday via the NBS X handle, revealed that the 36 states and the Federal Capital Territory (FCT) collectively generated ₦3.6 trillion in 2024, marking a 49.7 per cent increase from ₦2.43 trillion recorded in 2023.

Lagos led the chart with ₦1.26 trillion, followed by Rivers with ₦317.3 billion, and the FCT with ₦282.36 billion. Ogun and Enugu States completed the top five with ₦194.93 billion and ₦180.5 billion, respectively.

The bottom five states on the list were Adamawa (₦20.29 billion), Taraba (₦17.46 billion), Kebbi (₦16.97 billion), Ebonyi (₦13.18 billion), and Yobe (₦11.08 billion).

Other states that made the top 10 include Delta (₦157.79 billion), Edo (₦91.15 billion), Akwa Ibom (₦75.77 billion), Kano (₦74.77 billion), and Kaduna (₦71.57 billion).

The NBS noted that the sharp increase in overall IGR reflects growing fiscal efforts by states to boost their internal revenue base amid declining federal allocations.

 

 

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FG Launches Free Financial Education Programme for 100,000 Youths 

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The Federal Ministry of Youth Development, in partnership with Investonaire Academy, has commenced registration for a nationwide financial education programme designed to train 100,000 Nigerian youths annually in financial literacy, entrepreneurship, global trade, and investment.

In a statement signed by Omolara Esan, Director of Information & Public Relations, the Ministry said the initiative reflects its commitment to equipping young Nigerians with the skills to navigate today’s complex financial landscape, enhance employability, and foster sustainable wealth creation.

The programme will provide participants with exposure to global asset classes, including commodities, gold, equities, and foreign exchange, as well as training in risk management, portfolio development, and wealth-building strategies.

Successful candidates will receive industry-recognised certificates to support career advancement and entrepreneurial opportunities. Training will be delivered via an interactive Learning Management System (LMS), incorporating gamified learning, simulations, quizzes, and real-life trading scenarios. Physical sessions will begin in Abuja before expanding nationwide.

The programme is open to students, NYSC members, entrepreneurs, job seekers, and young professionals across Nigeria’s 36 states and the FCT.

Registration is free and currently ongoing via www.investonaire.org.

 

 

 

 

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