How Nigeria can create wealth, good paying jobs – VP, Osinbajo

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Vice-President Yemi Osinbajo has said Nigeria needs to adopt value addition practices in order to create wealth that will accelerate economic recovery post-COVID-19 and

Osinbajo also assured the business community of the Federal Government’s unrelenting efforts to restore the country to a path of economic growth that will help to create a number of good-paying jobs.

The Vice-President said in Lagos on Friday that the target was to make the growth rate higher than the population growth rate.

He gave the assurance at the 2021 Presidential Policy Dialogue organised by the Lagos Chamber of Commerce and Industry (LCCI) and explained that the efforts would drive inclusive economic prosperity.

The vice-president said part of the government’s plan was the creation of the National Medium Term Development Plan, the Economic Sustainability Plan and similar others to mitigate the impact of the COVID-19 pandemic.

He added that plans were underway to help the Nigerian economy adapt to climate change and match the disruptions of the digital economy and the fourth industrial revolution.

Osinbajo noted, however, that the appropriate regulatory environment was critical and urged for private and public sector partnerships to formulate and implement policies to drive economic growth.

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“Nigeria needs to adopt value addition practices in order to create wealth that will accelerate economic recovery post-COVID-19.

“The medium-term development plan when implemented in full; the strategic orientation of becoming a value-added economy will help to create a number of good-paying jobs.

“Our aim is to focus on the development of the local industry beyond crude oil with a focus on technology so that we can create wealth value chains.

“The success of the plan is greatly dependent on the partnership between the public and private sectors, especially as huge investment inflow is required.

“It is important for the Nigerian youth to get necessary skills and key into the Nigeria Jubilee Fellowship Programme which seeks to engage 20,000 youths yearly over a five-year period,’’ he said.

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