Federal Government’s promise of creating three million jobs yearly is achievable with the aid of Small and Medium Enterprises, SMEs, and the real sector Lagos Chambers of Commerce and Industry, LCCI, director general, Mr. Muda Yusuf has said.
Speaking at a forum with the theme, ‘Job Creation through Entrepreneurship Empowerment’ held in Lagos, he said entrepreneurship played an important role in the economic growth and development of any nation.
“It is a purposeful activity involving the initiation, promotion and distribution of wealth and service,” he said.
He, however, listed some of the obstacles to include skill and human capacity issues, hash business environment – infrastructure lapses, policy and regulatory shortcomings, access and cost of funds, macroeconomic challenges, interest rate and inflation, multiple taxation and inadequate incentives for entrepreneurial development.
He called for collaboration between the public and private sectors; development of incubation centres and enterprise development centres; creation of free trade zones; promote the teaching of entrepreneurial skills in schools and colleges; use mentoring as a means of business skills development to encourage skill sharing and long-term personal relationship between mentor and mentee; and providing vocational skills and income-generation opportunities for the marginalised, such as women, people with disabilities and the unemployed.
The director general/chief executive, Industrial Training Fund, ITF, Dr. Juliet Chukkas-Onaeko said ITF had achieved over 70 percent job placement for its trainees across major sectors of the economy.
According to her, the ITF’s focus was to ensure 100 per cent employment for trainees that had benefitted from the various trainings conducted in collaboration with the Nigeria Employers Consultative Association, NECA, and other organisations.
“Our focus is to achieve 100 per cent employment for all trainees that come on the platform. And so far, I would say that we have done quite well. Up to 70 per cent get retained by the companies that work with us to train these people, and some go to sister companies, other companies that offer the same services, and they get employed.”
She said over 74,000 Nigerians have been trained in various vocational and technical areas under the 1,000 per state training scheme, while about one million benefitted from the overall ITF training projects, in-house and across industries in the last one year.
The director-general assured that the ITF would continue to increase the number of trainees in the coming years to further address the issues of unemployment in the country, adding that already the process of training two million annually has commenced.
“I have told my team that we should look at training and working on getting jobs for at least 50 per cent of four million people to be trained. That is because the need is huge. If we don’t do this considering the number of youths that graduate from the universities every year, from the polytechnics and even the secondary schools, the unemployment rate will continue to grow at a very high rate,” she said.

READ ALSO  Dell expands open networking software range with New Dell OS10