Unemployment: Nigeria at a precipice – Atiku

Former Vice President, Alhaji Atiku Abubakar has expressed worry over the Bloomberg Business report, released over the weekend (4th weekend of March 2021), indicating that Nigeria is to emerge as the nation with the highest unemployment rate on earth with over 33 per cent.

Atiku in a statement, noted that before now, Nigeria had maintained an almost single digit unemployment rate.
He blamed the surge on the abandonment of people-centred leadership and free trade and deregulatory policies of the Obasanjo years, by the present administration.

The former Vice President regretted that the present All Progressives Congress (APC)-led Federal Government is now implementing “discredit command and control policies that have led to massive capital flight from Nigeria.”

“We warned about this, but repeated warnings by myself and other patriots were scorned,” he said.

He attributed the unprecedented insecurity in the country to youth unemployment, noting that “idleness is the worst feature of unemployment because it channels the energy of our youth away from production, and towards destruction, and that is why Nigeria is now the third most terrorised nation on earth.”

Atiku recalled that last year, he recommended the payment of N5,000 monthly stipend by the Nigerian government, to every family with at least one school age child, and earning less than $800 per annum, on the condition that they verifiably keep their children in school, as a way of bringing down youth unemployment.

The former Vice President still maintained that the $1.5 billion recently approved by the Federal Executive Council (FEC), for the rehabilitation of Port Harcourt refinery is ill-advised.

© New Telegraph

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