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Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy - Politics (5) - Nairaland

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Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by deleo16(m): 12:24am On Oct 22, 2014
One of the critical challenges facing Nigeria’s economic development at the moment is the rising unemployment. Available reports from a variety of sources and the glaring evidence of joblessness in all the states of the federation indicate that there is no time in Nigeria’s tartan history that unemployment has been as serious as it is now.

Unemployment according to the International Labour Organisation (ILO) is among the biggest threats to social stability in many countries including Nigeria, putting the global rate at 12.6% (ILO, 2012). When compared with her counterparts in the continent, Nigeria’s unemployment crisis is more serious. For instance, South Africa’s unemployment rate is currently standing at about 22%, and in Ghana is about 14% in 2010,

Several reports put Nigeria’s unemployment rate at about 24 percent; and 60 per cent of the country’s population are youths, translating to about 80 million Nigeria youths. Youth unemployment rate is over 50 percent; about 64 million Nigeria youths are unemployed. To think that there are 64 million able body human beings without means of any livelihood is mind boggling. For a nation without any social programs – welfare or unemployment stipend, these 64 million Nigerians live each day looking to survive by all means necessary including involvements in violent criminal acts that constantly threaten the security of the populace.

This situation is pathetic considering the fact that the country is blessed with a lot of human and natural resources capable of providing employment for the teeming youths in Nigeria. As noted by the World Bank report, that the youth holds the key to achieving the Vision 20: 2020.

It is in this regard that the latest job creation figure released by the National Bureau of Statistics, (NBS), yesterday which showed that the economy created 500,224 jobs across the country in the first six months of 2014 was accepted with mixed feelings.

According to the Statistician-General of the Federation, Dr. Yemi Kale, at a workshop organised by the NBS for the review of definition and methodology for computing unemployment statistics in Nigeria; the new figure was arrived at through a recent job creation survey carried out by the NBS for the first and second quarters of 2014. The scope of the survey covered formal and informal establishments and public institutions in the country.

The report showed that in the Q1 of 2014, the formal sector recorded 76.018 new jobs; informal recorded 158,894 new jobs, while the public sector recorded 5,959 new jobs. The total new jobs for Q1 of 2014 was 240,871, representing a decrease by 10.3 per cent from the previous Q, which recorded 265,702 jobs and lower than the 431,021 jobs created in the corresponding Q in 2013.

We acknowledge that the President Goodluck Jonathan led government recognizes the enormous unemployment problem and has called on economic experts in Nigeria to develop approaches that will fast-track Nigeria towards overcoming unemployment.

But, one cannot really conclude that the government at one level or the other have done anything significant to reduce unemployment in Nigeria. The creation of National Directorate of Employment (NDE) and its skills acquisition programmes, NAPEP, PAP, the SURE-P,YOUWIN, just to mention a few, are some of the various intervention mechanisms aimed at ensuring economic growth that is rich with job creation opportunities which have performed below expectation.

The number of jobs created within the first half of the year is encouraging and gives hope to the unemployed, however, efforts will need to be multiplied if unemployment is to be drastically reduced. Hence, conscious effort must be directed at creating an environment that will encourage and sustain private sector manufacturing and entrepreneurship, while investing heavily on infrastructural projects such as power, roads, airports and seaports.

2 Likes

Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Nobody: 12:26am On Oct 22, 2014
Haven't u noticed that America appears to own Nigeria these days?

Remember GEJ comments regarding missing $20Bn: "America would know -it their money "

Or American troops in Nigeria under the pretext of searching for kidnapped phantom girls

Or America offer rewards for info on Boko Haram (which they are covertly sponsoring)
Panshow:
Yesterday was minister of power urging us to bear with the huge decline of about 1000 mega watts. Today is minister of finance urging us to bear with the economy of the country.
You sure say GEJ never sell this country?.

2 Likes 1 Share

Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by deleo16(m): 12:26am On Oct 22, 2014
One of the critical challenges facing Nigeria’s economic development at the moment is the rising unemployment. Available reports from a variety of sources and the glaring evidence of joblessness in all the states of the federation indicate that there is no time in Nigeria’s tartan history that unemployment has been as serious as it is now.

Unemployment according to the International Labour Organisation (ILO) is among the biggest threats to social stability in many countries including Nigeria, putting the global rate at 12.6% (ILO, 2012). When compared with her counterparts in the continent, Nigeria’s unemployment crisis is more serious. For instance, South Africa’s unemployment rate is currently standing at about 22%, and in Ghana is about 14% in 2010,

Several reports put Nigeria’s unemployment rate at about 24 percent; and 60 per cent of the country’s population are youths, translating to about 80 million Nigeria youths. Youth unemployment rate is over 50 percent; about 64 million Nigeria youths are unemployed. To think that there are 64 million able body human beings without means of any livelihood is mind boggling. For a nation without any social programs – welfare or unemployment stipend, these 64 million Nigerians live each day looking to survive by all means necessary including involvements in violent criminal acts that constantly threaten the security of the populace.

This situation is pathetic considering the fact that the country is blessed with a lot of human and natural resources capable of providing employment for the teeming youths in Nigeria. As noted by the World Bank report, that the youth holds the key to achieving the Vision 20: 2020.

It is in this regard that the latest job creation figure released by the National Bureau of Statistics, (NBS), yesterday which showed that the economy created 500,224 jobs across the country in the first six months of 2014 was accepted with mixed feelings.

According to the Statistician-General of the Federation, Dr. Yemi Kale, at a workshop organised by the NBS for the review of definition and methodology for computing unemployment statistics in Nigeria; the new figure was arrived at through a recent job creation survey carried out by the NBS for the first and second quarters of 2014. The scope of the survey covered formal and informal establishments and public institutions in the country.

The report showed that in the Q1 of 2014, the formal sector recorded 76.018 new jobs; informal recorded 158,894 new jobs, while the public sector recorded 5,959 new jobs. The total new jobs for Q1 of 2014 was 240,871, representing a decrease by 10.3 per cent from the previous Q, which recorded 265,702 jobs and lower than the 431,021 jobs created in the corresponding Q in 2013.

We acknowledge that the President Goodluck Jonathan led government recognizes the enormous unemployment problem and has called on economic experts in Nigeria to develop approaches that will fast-track Nigeria towards overcoming unemployment.

But, one cannot really conclude that the government at one level or the other have done anything significant to reduce unemployment in Nigeria. The creation of National Directorate of Employment (NDE) and its skills acquisition programmes, NAPEP, PAP, the SURE-P,YOUWIN, just to mention a few, are some of the various intervention mechanisms aimed at ensuring economic growth that is rich with job creation opportunities which have performed below expectation.

The number of jobs created within the first half of the year is encouraging and gives hope to the unemployed, however, efforts will need to be multiplied if unemployment is to be drastically reduced. Hence, conscious effort must be directed at creating an environment that will encourage and sustain private sector manufacturing and entrepreneurship, while investing heavily on infrastructural projects such as power, roads, airports and seaports. SAME OLD LIE JUST LIKE SURE -P PAPER ECONOMY
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Nobody: 12:43am On Oct 22, 2014
Panshow:
Yesterday was minister of power urging us to bear with the huge decline of about 1000 mega watts. Today is minister of finance urging us to bear with the economy of the country.
You sure say GEJ never sell this country?.


Dead
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by maclatunji: 12:48am On Oct 22, 2014
Rawani:
Largest African Economy indeed.

Zero corruption = Foreign Direct Investment = Robust economy

Gen. Buhari (rtd.) is what is needed.

This your economic theory is very poignant.
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Popemax(m): 12:59am On Oct 22, 2014
Enangson:
60% of d comment on front page r just to book space, dis 1 included.
please this space booking tell me more abt it
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Nobody: 2:26am On Oct 22, 2014
Hungry man no understand all this one you dey talk so o
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by niceguydot: 4:27am On Oct 22, 2014
Yea, to bear with the nature of the economy is like trying to "package" the average Nigerian...
From time the average Nigerian is always bearing with the economy in the name of "e go better"
They should fix their end

1 Like

Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by donodion(m): 4:42am On Oct 22, 2014
same ol same ol.few months back she publicly declared govt have created over 1 million jobs...Lies.

Okonjo have badly tainted her personality serving under the incumbent inept and grossly corrupt govt system in Nigeria.

As if they were asked," when it was all rosy and dandy,when the oil price wad favorable,who benefited immensly? The people you are ever appealing to bear the crunch or the wicked vampires in power and their civil servants collaborators.?

The Nigerians who have no tangible benefits so far from these useless pilfering lots are saying NOT ANYMORE. INCAPABILITY and CLUELESSNESS is the trade mark of the present government.
The world bares witness to this
Shem!!!!

1 Like

Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by hydeka: 5:16am On Oct 22, 2014
We have been bearing a lot of things already. It's not new.

1 Like

Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by skyfall: 5:49am On Oct 22, 2014
Yea, we'll keep "bearing" while they keep stealing $$$billions, buying private jets and telling us that stealing is not corruption.
Thieves!

3 Likes

Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Sanguine77(m): 5:53am On Oct 22, 2014
How long shall we continue to bear and endure? Nigeria has the resources both human and natural to become a force to reckon with in the comity of industralised and developed nations but alas, corruption, avarice, the immoral hankering for material things as well as the high cost of governance have continued to be our bane.
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by bunmioguns(m): 6:14am On Oct 22, 2014
We don hear o
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Kingsimmer(m): 6:35am On Oct 22, 2014
waiting mode activated
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by samento: 6:51am On Oct 22, 2014
Panshow:
Yesterday was minister of power urging us to bear with the huge decline of about 1000 mega watts. Today is minister of finance urging us to bear with the economy of the country.
You sure say GEJ never sell this country?.
Tomorrow Minister of Works will come and tell us we should try to understand that rain is too much this year, that is why they are unable to fix our roads. Yeye people.

4 Likes

Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by olajide8(m): 7:08am On Oct 22, 2014
When I said it - years ago Voodoo economics NOI - I had no support- now after 3years, election is coming they are begging 1year ago did they beg you/us - nope - we meant nothing to them, an anti-corruption fighter is coming they have started confessing - showing actual figures in finance and power- we are watching; and God is watching asari is no longer talking - edwin clark is silent- I always say this the devil has followers but for their followers - God is watching and the poverty they are forcing will be on your generations- nigeria will be great - we need to get these clueless people out of power- NOW!!

3 Likes

Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by beegurl(f): 7:46am On Oct 22, 2014
Seriously I'm so broke that im always annoyed wiv myself. Naija is really broke this time. Yeye woman, her gele be like oshuka
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Btruth: 7:54am On Oct 22, 2014
Booking space on this thread is a waste of time. It's like one buying acres of land at Sambisa forest.
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by benjsniper33: 7:57am On Oct 22, 2014
HAH:
For how long are we going to keep bearing with you:

"Only a fool will keep doing the same thing over and over and expect a different result"

Solution ; kick out PDP 2015

Nigeria sai Buhari/ Fashola

Tanki you my broda,

kei!! Sai Buhari walahi por tuwentipiptin grin grin
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by adef1(m): 8:09am On Oct 22, 2014
Oyedey4u:


Pls we are in the age of INTERNET where all reports are gotten at the snap of the finger.. So check your data well.. $2b for where... I am surprised you can believe this VERY cheap lie from whatever source or maybe OPPOSITION..
If that were true, you will not be in your home or where you are now typing what you have typed...
You will probably be in a public square for #OCCUPY_Rebranded protest demanding for the RESIGNATION of all of our leaders for MASS failure....


The poster was obviously talking about the excess crude account and not the foreign reserves. I took your advise and 30seconds later, found this link credited to former CBN governor in January 2014. ECA was $2.5bn left just 10months ago.

https://www.premiumtimesng.com/news/153777-cbn-warns-nigerian-government-depletion-excess-crude-account-foreign-reserves.html

The chap was quite right.

1 Like

Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Nobody: 8:16am On Oct 22, 2014
JoeArmsD1:
Just coming out from the toilet

Returns back to shiyt again...........



To comment later!!
Alajesu! Pupu-master!! Dawotele master!! Oba Alegongo 1!!!!! lozzzzzzzzzzzzzz!
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by stjsd(m): 8:27am On Oct 22, 2014
bruno419:
Abuja – The Minister of Finance, Dr Ngozi
Okonjo–Iweala, has assured Nigerians that the
economy is growing positively in spite of the
reduction of oil price in the international market.
Okonjo-Iweala, who stated this on Tuesday at
the 2014 Ministerial Platform in Abuja, said the
nation was not broke as being speculated in the
media.
She said “if you look back two years ago, that
title `is Nigeria broke‘ was written in a
newspaper article, it is like people are trying to
force Nigeria into brokerage.
“I think since two years, we have managed to

Nonsense talk $1= #167
keep things going, let me explain these; Nigeria
is a country that depends on a stream of
income.
“That income is being able to collect taxes from
companies, individuals and our income is also
based on selling a product and that product you
take to market and you take whatever price a
buyer is willing to pay.’’
According to her, government is doing
everything within its power to ensure economic
stability in the country.
She said that presently, government had been
budgeting below the existing oil price to help
build buffers in case of uncertainty.
“We are operating an economy that depends on
a product that fluctuates with oil price and we
don’t have the right to control the price.
“Just like you have in your own household, when
the quantity diminishes or the price drops, you
remember in 2007 to 2008, the price of oil
dropped from 140 dollars to 38 dollars.
“At that time, nobody asked if the country was
broke because we had saved up 22 billion dollars
in the Excess Crude Account and we were able
to continue spending and to stablise the
economy.’’
The minister said that presently Nigeria was
faced with fluctuations in quantity and price of
oil, adding that it had affected the amount paid
into government coffers.
“Does that mean that the country is broke? We
still have resources that we depend on; we still
have the ability to tax.
“Sometimes, things need to be a little tighter,
easier and we just have to weather it and
manage ourselves but that does not amount to
the country being broke.’’
The finance minister said if government was not
able to pay salaries to people and continue to
manage, “then we can say that the country is
broke but we have not gotten there yet.’’
She urged Nigerians to bear with the nature of
the economy, adding that it was the reason
every effort was challenged to ensure the
economy was diversified.
Commenting on the management of the fiscal
deficit, she said that the Ministry of Finance
would continue to ensure that it was kept as
narrow as possible.
She said that in 2013, the debt to Gross
Domestic Product (GDP) ration was 1.4 per cent
and 1.03 per cent in 2014 and projected to be
one per cent in 2015 budget. .
She added that borrowing had been on the
decline and external debt stood at N1.46 trillion
or 14 per cent of the total debt.
The ministry had adopted prudence to debt
management and Nigeria’s debt to GDP remained
one of the lowest in the world. (NAN)

source: www.vanguardngr.com/2014/10/nigeria-is-not-broke-okonjo-iweala/
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by UzzyPhil(m): 8:50am On Oct 22, 2014
To be clear:
1: Numbers make absolutely zero sense where it shows no impact in the economic reality of the ordinary civilian working hard for his wellbeing and that of his dependents.
2: A lack of any independent verification of the supposedly wonderful GDP and other macro economic terminology only adds credence to the perceived dubiousness of touted positive growth. However, I put this down to a lack of private sector involvement especially the Economic and policy research institutes (if indeed we have any) of the country in the day to day affairs of the nation.
3: These are issues that should spur an intelligitible political debate and response from the opposition based on facts and using the freeedom of information act to gather relevant data that debunks the eonomic jargon and paints actual on ground reality (ahh, our politicians are 70 years and above).
4: It is a damning indictment of our youths when it comes to challenging the authorities that be and demanding better accountability by being accountable themselves through diligent research and peaceful protests (however I dont blame them due to the lawlessness of the Nigerian state afterall my humble self is an armchair critic embarassed).

Let us continue to pray for the governance of heaven to change things for us.. undecided lipsrsealed.
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by benjsniper33: 8:58am On Oct 22, 2014
nigerianvenom:


U are calling her fat,has ur muma got to the position she is?
Bad belle

Comments like this makes me wonder how woeful the Nigerian situation is when it comes to putting transparency and equity first.
The fact that Okonjo is wining and dining with the high and mighty due to her position in the government doesnt make her immune to public expression of dissatisfaction in her works.
Its high time we do away with all forms of inferiority complex such as sycophancy, tribalism etc and let us address the main issue on ground.
Its not the position or wealth that matters, but the works of one's hand and the values advocated during his or her tenure or existence.
His mother may not be in that position or ha ve all the degrees but i think she happy, satisfied not being under any pressure whatsoever and being comfortable in the confines of her house and seeing her healthy children grow into adults.
Nothing adds more essence to life than that..

2 Likes

Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by benjsniper33: 9:00am On Oct 22, 2014
nigerianvenom:


U are calling her fat,has ur muma got to the position she is?
Bad belle



Comments like this makes me wonder how woeful the Nigerian situation is when it comes to putting transparency and equity first.
The fact that Okonjo is wining and dining with the high and mighty due to her position in the government doesnt make her immune to public expression of dissatisfaction in her works.
Its high time we do away with all forms of inferiority complex such as sycophancy, tribalism etc and let us address the main issue on ground.
Its not the position or wealth that matters, but the works of one's hand and the values advocated during his or her tenure or existence.
His mother may not be in that position or ha ve all the degrees but i think she happy, satisfied not being under any pressure whatsoever and being comfortable in the confines of her house and seeing her healthy children grow into adults.
Nothing adds more essence to life than that..
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by ayusco85(m): 9:01am On Oct 22, 2014
Cheeun:
@ayusco85, Choice ke? No, we don't o.cry Not even when this woman wey e head gear be like witches drum dey there. Chai! Nigerians are suffering and smiling sha. I should bear with you people? Can you imagine? Yeye dey smell undecided

Hahaha. That her head gear no be here o
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Cheeun(f): 9:45am On Oct 22, 2014
grin
ayusco85:


Hahaha. That her head gear no be here o
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by pobosky20(m): 9:49am On Oct 22, 2014
Madam Okonjo,me n my family don't tire to wait, you are not a good 'economy driver'. Drop me joorh,make i join APC bus.

#2015 sai Buhari#

2 Likes

Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by daey118(m): 9:54am On Oct 22, 2014
Panshow:
Yesterday was minister of power urging us to bear with the huge decline of about 1000 mega watts. Today is minister of finance urging us to bear with the economy of the country.
You sure say GEJ never sell this country?.
No sir. Heard they're still looking for the C Of O tho.
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by daey118(m): 9:56am On Oct 22, 2014
JoeArmsD1:
Just coming out from the toilet

Returns back to shiyt again...........



To comment later!!
Aint none of our Business undecided
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by katordidi(m): 10:00am On Oct 22, 2014
state govts like Benue have refused to pay her workers 3 months salary playin the "broke" card. So wtf u saying who is fooling who?
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by daey118(m): 10:03am On Oct 22, 2014
priscaoge:
Nigeria is still the Giant of Africa no matter the amount of corruption from the Corrupt Leaders.!!!!!

Nigeria is like a Husband that cannot provide for his Fam. And he keeps telling you to wait that "It shall be Well" even when he's using the small small money he has to drink "monkey Tail" and "Jedi" in Iya kabiru's joint.. Would You still consider him the "Head of the Home" no matter what ? undecided #GiantOfAfricaIndeed

3 Likes

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