The Federal Government of Nigeria is set to launch a major employment initiative later this month, in an effort to address rising unemployment rate in the country.
During his Independence Day speech marking Nigeria’s 64th anniversary, President Bola Tinubu announced the Renewed Hope Labour Employment and Empowerment Programme (LEEP), designed to directly and indirectly facilitate the creation of 2.5 million jobs yearly.
Tinubu mentioned that the LEEP initiative is part of a broader government effort to tackle unemployment and improve the welfare and safety of workers nationwide. He noted that the programme will be managed by the Federal Ministry of Labour and Employment, which will implement various interventions to drive job creation.
The President also acknowledged the economic challenges facing many Nigerians, especially in light of rising living costs and the difficulty in securing employment. He reassured the public that his government is committed to alleviating these burdens through reforms that are gradually being implemented. Patience, he emphasized, is essential as these initiatives take effect.
In addition to LEEP, Tinubu also pointed out other youth-focused programs under his administration. These include the student loan scheme, designed to provide affordable loans to students pursuing higher education, and the 3 Million Technical Talents Programme (3MTT), which aims to build a robust technical talent pool in Nigeria.
Unemployment has been a significant issue in Nigeria, with the National Bureau of Statistics reporting a rise to 5.3% in the first quarter of 2024. Youth unemployment remains particularly high, though recent data show a slight improvement.
The government has launched several other initiatives this year to boost employment, including efforts to revamp the cotton and textile industry, and projects such as the National Strategy for Competitiveness in Raw Material and Product Development, which aims to create over 4 million jobs.
