The Minister for Industry, Trade and Investment, Otunba Adeniyi Adebayo revealed this recently in Abuja at the Grand Finale of the 2020 Ugwumba Enterprise Challenge for young leaders’ business start-ups, organised by the Ugwumba Centre for Leadership Development in Africa, UCLDA.
According to him, this move is important and part of its measures to eradicate unemployment and empower youths in the country.
He added that the youths are a very significant part of any economy and Nigeria is filled with creative, innovative, agile, and hardworking individuals with amazing potentials.
His words, “However, data from the Nigerian Bureau of Statistics shows that youths make up 64 percent of the total unemployed Nigerians. Partly as a result of this, many Nigerian youths, being ever resilient have directed their creative energy, ideas, and innovations into establishing MSMEs.
”These now constitute about 96 percent of the total number of enterprises, 50 percent of national GDP and 70 percent of the nation’s workforce.”
“Right now, under the Economic Sustainability Plan, the government is funding registration for 250,000 MSMEs, which would be registered at zero cost. We also concession two Brownfield Special Economic Zones (SEZs) while commencing work on developing four additional greenfield sites across the country.”
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Muhammadu Buhari GCFR (born 17 December 1942) is a Nigerian politician currently serving as the President of Nigeria, in office since 2015. He is a retired major general in the Nigerian Army and previously served as the nation’s head of state from 31 December 1983 to 27 August 1985, after taking power in a military coup d’état. The term Buharism is ascribed to the Buhari military government.
He unsuccessfully ran for the office of president of Nigeria in the 2003, 2007, and 2011 general elections. In December 2014, he emerged as the presidential candidate of the All Progressives Congress for the March 2015 general elections. Buhari won the election, defeating the incumbent President Goodluck Jonathan. This marked the first time in the history of Nigeria that an incumbent president lost to an opposition candidate in a general election. He was sworn in on 29 May 2015. In February 2019, Buhari was re-elected President, defeating his closest rival Atiku Abubakar by over 3 million votes.
Buhari has stated that he takes responsibility for anything over which he presided during his military rule, and that he cannot change the past. He has described himself as a “converted democrat”.
Muhammadu Buhari was born to a Fulani family on 17 December 1942, in Daura, Katsina State, to his father Hardo Adamu, a Fulani chief, and mother Zulaihat. He is the twenty-third child of his father. Buhari was raised by his mother, after his father died when he was about four years old.
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