Connect with us
nairametrics
UBA ads

Business News

Can 2018 Budget help with job creation and curbing unemployment?

Published

on

Can the 2018 budget help in job creation and curbing unemployment?

As seen in the proposed budget for 2018, bulk of it has been allocated to many sectors in the nation with crucial roles in advancing the economy of the country, infrastructure, security, and job creation. Unemployment rates multiply yearly. The number of graduates poured into the labour market doesn’t at all equate the job prospects available. This is slow suicide without us even realizing it yet.

With budget allocations, the 2018 Budget is intended to create more jobs for the unemployed masses in these areas:

Agricultural Sector;

Contributing to food security and creating platforms for agro-business in agriculture supply chains, the agricultural sector poses a viable source of employment as there are a good number of traders, farmers, importers and exporters of agricultural produce and investors. Thus, the N118.98 billion pumped into Agriculture and Rural Development for 2018 aims also at providing more jobs for the people.

The President also said in curbing unemployment, patronising Made-in-Nigeria goods and services would encourage more people to get involved entrepreneurially.

GTBank 728 x 90

In building and developing infrastructures across the country such as roads, railways, ICT and power, more jobs would be created, sufficient manpower and knowledge will be needed for rapid development. These infrastructures will have positive effects on the economy as well receiving N555.88 billion in the Power, Works and Housing sector.

The bill allocates N71 billion of the budget to the Health sector and expects to establish more Health facilities across the nation, hence there would be an increased demand for health inclined personnel (doctors, nurses, medical laboratory scientists etc).

To encourage small and medium scale industries and business, funds will be poured in this sector as this has contributed to job creation, wealth creation and productivity in the economy. This is also intended to provide enabling work environment for private sector businesses.

The Senate President Bukola Saraki on Tuesday, November 7 2017, spoke on unemployment and pointed out that “deliberate steps must be taken to make the 2018 budget a job orientation one.” Saraki also urged the Federal Government to move beyond budgetary provisions to ensure adequate funding is available for execution of projects, and pledged support on behalf of the National Assembly to the President.

The financial proposals in the budget clearly has plans to curb unemployment in the nation, therefore feasible jobs are anticipated for the coming year.

 

app

Chacha Wabara-Ogbobine is a Legal practitioner with over 9years post call experience. A research Consultant, professional writer and a blogger at heart,owner of four thriving websites with well over 10years of experience. Totally in love with keeping fit and coaching weight loss enthusiasts. I love my quiet time, being with my kids, watching TV series for hours on end.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Coronavirus

WHO gives condition for approving Russia’s COVID-19 vaccine as the vaccine gets a name

Russia has named its first approved COVID-19 vaccine, Sputnik V for the foreign markets.

Published

on

Vaccine, COVID-19: Russia to roll out vaccine in September ahead of the West 

The World Health Organization (WHO) said that any form of approval of prequalification of the Russian vaccine will require rigorous review and assessment of all required safety and efficacy data.

This disclosure was made by the spokesman of the WHO, Tarik Jasarevic, during a United Nations briefing in Geneva about clinical trials.

He said that the UN health agency and the Russian health authorities are currently discussing the process for possible WHO prequalification for its newly approved COVID-19 vaccine.

Tarik Jasarevic, during the UN briefing in Geneva said, “We are in close contact with Russian health authorities and discussions are ongoing with respect to possible WHO prequalification of the vaccine, but again prequalification of any vaccine includes the rigorous review and assessment of all required safety and efficacy data.”

Meanwhile, in a related development, Russia has named its first approved COVID-19 vaccine Sputnik V and it is available for foreign markets. The name references the world’s first satellite, which marked a symbolic accomplishment for the USSR during the cold war and space race era. Now, the Russian Government basks in its success at becoming the first country to approve a vaccine for COVID-19.

GTBank 728 x 90

The head of Russia’s Direct Investment Fund (RDIF) pointed out that Russia had already received requests from more than 20 countries for 1 billion doses of its newly registered COVID-19 vaccine.

Nairametrics had earlier reported today the announcement of the registration of the first COVID-19 vaccine in what could be described as a step ahead of other vaccine developments. The Russian President, Vladimir Putin, who made the disclosure during a televised government meeting, said that Russia had become the first country in the world to grant regulatory approval to a COVID-19 vaccine after less than 2 months of human testing.

However, the speed at which Russia is moving to roll out the vaccine has prompted some western countries and international scientists to question whether the Russian government is putting national prestige ahead of solid science and safety.

Continue Reading

Business

Nigeria signs African Trade Insurance Agency agreement

The African Trade Insurance Agency was launched to provide risk solutions for investors.

Published

on

Nigeria signs African Trade Insurance Agency agreement, Xenophobia, FG returns tollgates sixteen years after Obasanjo scrapped it from federal roads

President Muhammadu Buhari has signed the instrument of accession agreement for Nigeria for the establishment of the African Trade Insurance Agency. This was announced by the Federal Government on Monday night.

READ ALSO: Kenyan Candidate emerges as strong contender to Iweala for WTO

READ MORE: Brent crude records minor gain as growing concerns over COVID-19 limit upside

The agreement is coming after the Federal Executive Council ordered that an instrument be prepared and forwarded for execution.

GTBank 728 x 90

The African Trade Insurance Agency was launched in 2001, to provide risk solutions for investors, after the East African economic Union (COMESA) executed a World bank funded study to discover why Africa does not attract more Foreign Direct Investments.

READ ALSO: GEEP provides COVID-19 palliative microloans to 87,614 traders

The organization said it added credit insurance to its portfolio in 2006 after its members identified global trade as a major pillar of growth in the continent which has seen it grow as a market leader for risk mitigation in Africa.  The ATI also attracts funding from the African Development Bank and World Bank

Nigeria joining the agreement would provide Nigeria with the necessary insurance financing to increase investment inflows into the country and improve economic productivity.

Continue Reading

Coronavirus

Russia announces the registration of the first COVID-19 vaccine

Russian President made the announcement in a televised government meeting.

Published

on

COVID-19 vaccine, In Sochi, Vladimir Putin has proposed a “unique” economic assistance to Africa 

Russia has announced the registration of its first COVID-19 vaccine in what can be described as a step ahead of other vaccine development.

The Russian President, Vladimir Putin, who made the disclosure, called it effective protection against the deadly pathogen and revealed that one of his own daughters had already received it.

Putin in a televised government meeting said, “As far as I know, this morning the first vaccine against the novel coronavirus infection in the world was registered,”

READ MORE: Reasons why a record number of people are giving up their US citizenship

The announcement is seen as a propaganda coup for the Russian government against the west amid a global race to develop vaccines against the coronavirus pandemic that has killed nearly 750,000 people, infected more than 20 million and crippled major global economies.

GTBank 728 x 90

Pharmaceutical firms like AstraZeneca Plc and Moderna Inc. are still conducting final-stage trials of their vaccines in studies that are expected to soon yield results.

READ ALSO: WHO admits huge funding gap in pandemic fight, reveals amount needed for vaccine

Nairametrics had about 2 weeks ago reported that Russia had concluded plans to register a coronavirus vaccine between August 10 and August 12 in what would be regarded as the world’s first official approval of a vaccine against the coronavirus pandemic.

It also announced plans for a mass vaccination campaign against the coronavirus disease from October after disclosing that it had completed trials for the vaccine.

READ MORE: Chelsea Football Club owner sells gold mining stake for $1.4 billion

This vaccine which is being developed by Russia’s Gamaleya Institute in collaboration with the Russian Direct Investment Fund started phase 3 trials last week. The Russian Deputy Prime Minister, Tatyana Golikova, who was at the meeting, disclosed that medics could start receiving the vaccine by the end of the month.

app

Russia, which is reported to be the fourth most affected country globally, has recorded almost 900,000 COVID-19 cases with over 27,000 coronavirus-related deaths

Continue Reading
Advertisement
Advertisement
first bank
Advertisement
Advertisement
Patricia
Advertisement
first bank
Advertisement
ccitraders
Advertisement
Heritage bank
Advertisement
beyondperception
Advertisement
devland
Advertisement
GTBank 728 x 90
Advertisement
Advertisement
financial calculator
Advertisement
Advertisement
deals book
Advertisement
app
Advertisement