• Super Admin
• 08 Mar, 2026

The Presidency has said the administration of President Bola Tinubu is creating millions of jobs through economic reforms and targeted employment programmes. This is in response to concerns raised by the World Bank Group about a looming employment crisis in developing countries, including Nigeria. The World Bank had warned that many developing economies are heading toward a major employment challenge as millions of young people prepare to enter the workforce without enough available jobs, raising fears about economic instability, migration pressures and potential global security risks. Reacting to the warning in an interview with Sunday PUNCH, the Special Adviser to the President on Media and Public Communication, Sunday Dare, said the country took the World Bank concerns seriously and was addressing them through reforms under the Renewed Hope Agenda. According to him, employment is largely driven by economic activity, which is why the administration's reforms focus on macroeconomic stability, infrastructure expansion, agriculture and food security, manufacturing and industrialisation, energy development, human capital investment, social protection and national security. Dare said, "Nigeria takes the World Bank's warning about a potential employment challenge in developing economies very seriously. Countries with youthful populations must ensure that economic expansion keeps pace with demographic growth. President Bola Ahmed Tinubu's administration, through the Renewed Hope Agenda, has approached this challenge by focusing on structural reforms that stimulate enterprise growth and expand opportunities for young Nigerians. "These priority areas are designed to unlock productivity across sectors with strong employment potential." He also highlighted several government initiatives aimed at boosting employment, including the Renewed Hope Ward Development Programme, which targets productive activities across Nigeria's 8,812 wards through enterprise hubs, infrastructure upgrades and skills development linked to financing. Dare explained that the programme was designed to create up to 1,000 jobs per ward, translating to millions of employment opportunities nationwide. The presidential aide added that the National Directorate of Employment's Renewed Hope Employment Initiative was also focusing on vocational training, entrepreneurship development and practical skills to help young Nigerians transition into productive work. On access to finance, Dare said the Bank of Industry disbursed N636bn to more than 7,000 enterprises nationwide in 2025, describing it as the highest annual financing in the bank's history. He said the investments had enabled businesses to expand operations, retain workers and create new jobs. Dare further stated that the N200bn MSME Intervention Programme and the Presidential Conditional Grant Scheme had supported hundreds of thousands of micro and small businesses across the country. "So far, 957,400 beneficiaries have received grants, over 570 startups have been financed, and approximately 1.6 million jobs have been created or retained through these initiatives," he said. The presidential aide added that additional inclusive finance initiatives are targeting underserved groups, including N10bn in loans for women-owned enterprises, N12bn for youth-owned businesses and N6.5bn supporting rural enterprises across the 36 states and the Federal Capital Territory. He noted that although unemployment figures may fluctuate during periods of economic reform, the administration remains committed to building a stable economy where businesses grow, investments expand, and opportunities multiply. "Through the Renewed Hope Agenda, the government is working to ensure that Nigeria's youthful population becomes a powerful driver of economic growth rather than a source of economic pressure." Source: https://punchng.com/?p=2083746