Buhari says these 4 sectors will create more than 500,000 jobs by 2020

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May 29, 2018 6:12 PM

President Buhari said the key areas of the economy have yielded significant prospects for investments and job creation to the tune of $22.5 billion with a potential for creating “more than 500,000 jobs by 2020”.

The president said the key areas of the economy which are agriculture, transport, manufacturing and processing, power and gas have yielded significant prospects for investments and job creation.

Nigeria's President, Muhammadu Buhari has revealed plans to create more than 500,000 jobs by 2020 which will help reduce the rate of unemployment affecting the country.

The president said the key areas of the economy which are agriculture, transport, manufacturing and processing, power and gas have yielded significant prospects for investments and job creation to the tune of $22.5 billion with a potential for creating “more than 500,000 jobs by 2020”.

Nigeria's Buhari stated this during his democracy broadcast on Tuesday, May 29, 2018.

“These investment generation initiatives are expected to increase capital inflows in the form of foreign direct investment with a high prospect that the cumulative investments from this first phase of the Labs will hit $39.2 billion by 2025,” he said.

Also READ: Democracy Day: Here's how Nigerians rate Buhari's administration

In March 2018, Nigerian government conducted focus labs in key areas of the economy to deliver quick and fast results to Nigerians.

The focus laboratories launched by the Ministry of Budget and National Planning in collaboration with the Nigerian Investment Promotion Commission.

Udoma Udo Udoma, Nigeria's minister of budget and national planning, said the lab process is just one of the several initiatives by the Federal Government to drive the implementation of the strategic objectives of the Economic Recovery and Growth Plan (ERGP).

He said that the process would deliver quick results to citizens by identifying actionable projects, removing roadblocks and developing an enabling framework for the sector.

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