Aremu made these statements during an interview on Arise TV Morning Show, where he highlighted the positive changes in the labour market. According to him, the National Bureau of Statistics (NBS) has utilized the International Labour Organisation’s methodology to arrive at this official unemployment figure, reflecting a notable decrease from previous double-digit rates.
“Today unemployment is about 5% officially. That’s quite remarkable,” Aremu stated, pointing to an increasing level of employment opportunities in both public and private sectors. He further noted the emergence of modular refineries and their role in job creation.
The manufacturing sector, he added, is also showing promise for job growth, but Aremu stressed that sustainable industrialization hinges on resolving the ongoing energy crisis. “You can’t have sustainable industrialization without electrification,” he emphasized.
Aremu observed that many industries are now prioritizing local sourcing of raw materials due to exchange rate fluctuations, which further bolsters job creation. He believes that job sustainability requires deliberate efforts guided by appropriate industrial policies.
On the pension front, Aremu praised the Federal Government’s intervention bond, which has successfully cleared pension liabilities dating back to 2007. This initiative has benefitted nearly a million Nigerians, reaching 957,045 beneficiaries across the country.
As a member of the presidential campaign council, Aremu noted that labor issues such as secure jobs, living wages, and pension payments will significantly influence upcoming elections. He urged all candidates to present their achievements regarding job creation rather than making promises.
Aremu commended President Tinubu for reforming the public sector, noting that the administration has focused on job retention and expansion, contrasting this approach with past instances of mass layoffs.
He called for a “job and wage-led economic recovery,” emphasizing that organized labor should engage the government for a negotiated new minimum wage. He also praised the Tinubu administration for initiating two minimum wage reviews within just three years.
As the nation looks ahead, the ongoing discussions around employment and economic policy are set to shape the future landscape of Nigeria's labor market. With these developments, Aremu’s insights provide a hopeful outlook on the nation’s economic trajectory.
No comments:
Post a Comment