Unemployment In Nigeria May Rise to 39.4 million – VP Osinbanjo
Vice President, Yemi Osinbanjo has revealed that even if the price of crude oil in the international market stabilized at $30 per barrel throughout the year, Nigeria would still lose N185 billion monthly causing a rise in unemployment.
The Vice President who chaired the Economic Sustainability Committee, while presenting it’s report tagged “Bouncing Back” to the President, projected that unemployment in Nigeria may rise to 39.4 million or 33.6 percent in December.
Also included is proposing a clear cut strategy to keep jobs and create opportunities for new ones as well as identifying measures that may require legislative support to deliver the plan.
The committee was also constituted to come up with monetary policy measures in support of the plan, provide a fiscal and monetary stimulus package, including support to private businesses with emphasis on strategic sectors most affected by the pandemic and vulnerable segments of the population.
President Buhari is however optimistic that amidst the COVID-19 pandemic that the economy of the nation will come out strong.
