Unemployment: World Bank To Invest $300m In Nigeria

As part of efforts to fight unemployment in the country, the World Bank is currently investing $300m and partnering with the National Directorate of Employment (NDE) to implement Skills for Job programme.

According to the representative of the bank, Prof. Foluso Okumadewa,  the NDE programme would gulp $50m.

At the World Bank Assisted Youth Employment and Social Support Operation Stakeholders Forum held in Ibadan to herald the skills for Job project, Director General of NDE, Abubakar Mohammed, said the World Economic Forum recently held in Nigeria revealed that about 112 million workers will enter Africa’s labour market by 2020.

He also said that the National Bureau of Statistics stated that unemployment rate in Nigeria had reached 38 per cent with 45 per cent of the unemployed population in the 18 to 25 age brackets.

Describing the figure as disturbing, Mohammed commended the World Bank for assisting in the nation’s fight against youths’ unemployment.


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