The CBN Governor Emefiele outline the Central Bank of Nigeria vision and policy thrust for the next 5 years in a press briefing yesterday in Abuja.
However, our update is on their policies and programmes plan to create 10 million jobs in the next five years in order not to bore you with long story. You can download the CBN Governor full presentation here. Or watch the video below:
The job creation initiative falls within President Muhammadu Buhari’s plans to lift 100 million Nigerians out of poverty through job creation and economic diversification.
President Buhari stated in his speech to mark the maiden edition of June 12 Democracy day celebration that his job creation plan project will last for 10 years, Buhari had said that Nigeria can accomplish the feat because China, India and Indonesia had done same.
Emefiele said that the five million jobs would be through the apex bank’s increased intervention in the agriculture and credit access to the real sector of the economy, that in line with President Buhari’s directive, his team would boost productivity through the provision of improved seedlings and access to finance for rural farmers in the agricultural sector, across 10 commodities: Rice, maize, cassava, cocoa, tomato, cotton, oil-palm, poultry, fish, and livestock.
“Our choice of these 10 crops is driven by the amount spent on the importation of these items into the country, and the over 10 million jobs that could be created over the next five years if efforts are made to expand the cultivation and processing of these items in Nigeria,” Emefiele said.