The federal government under the leadership of President Bola Tinubu has announced its ambitious plan to create 100,000 jobs for Nigerians before May 29, 2024.
This revelation was made by the Senior Special Assistant to the President on Micro, Small and Medium Enterprises (MSMEs) and Job Creation, Temitola Adekunle-Johnson, during the inaugural Job Creation and MSME Quarterly Communications Forum organized by the Job Creation & MSME Secretariat, Office of the Vice President.
Adekunle-Johnson disclosed that while the overall target is to generate 384,000 jobs within four years, the initial goal is to achieve 100,000 job opportunities by May 29, 2024. He highlighted that the government is focusing on job creation in collaboration with the Federal Ministry of Labour and Employment.
Speaking on the partnership between the Federal Government and Access Bank, Adekunle-Johnson emphasized the bank’s commitment to supporting MSMEs by providing access to funding. Access Bank has pledged N50 billion to support MSMEs, offering loans at a reduced interest rate of 15% compared to the prevailing 27-29% rate. Additionally, the bank has simplified the collateral requirements for MSMEs seeking loans ranging from N1 to N3 million.
Earlier at the event, the Minister of Information and National Orientation, Mohammed Idris, reiterated the government’s commitment to creating an enabling environment for MSMEs in line with President Tinubu’s Renewed Hope Agenda. The minister underscored the importance of empowering MSMEs as key drivers of economic growth and development in the country.