The Federal Government says it would use Growth and Empowerment Project, GEM, to create between 600,000 to one million jobs within the next three years.
This was disclosed in Abuja on Tuesday by the Director-in-charge of GEM in the Ministry of Industry, Trade and Investment, Mr Sani Labaran.
Labaran, who doubles as the Coordinator of the project, stated that the project would create both direct and indirect jobs in five sectors of the economy from 2015 to 2018.
He noted that the five sectors to benefit from the project were identified based on their growth and employment potential.
According to Labaran, the sectors are the entertainment industry, ICT, hospitality and tourism, light manufacturing and agro processing as well as construction/real estate.
“The project is aimed at enhancing job creation and increased non-oil growth in specific high-potential value chain sectors,” he said.
Labaran observed that the GEM Project is very important to the Federal Government and the Nigerian economy, as it will help in reducing the high unemployment rate.
GEM project is supported by the World Bank and the UK Department for International Development, DFID, and is being implemented by the Federal Ministry of Industry, Trade and Investment.
The World Bank is providing a loan of about 160 million dollars, while the DFID is providing a grant of about 100 million dollars.
The project will support Small and Medium Enterprises develop new business models, train the labour force to enable Nigerian businesses to participate successfully in national and global supply chains.
It will also improve the business enabling environment so that businesses can grow faster and become more profitable.
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