By Peter Omopo
President Bola Tinubu has said job creation, industrialisation and enterprise development will be central to Nigeria’s next phase of economic growth as the country seeks to translate its large youthful population into productive economic strength.
Tinubu made the declaration in his Independence Day address on Thursday, saying millions of young Nigerians entering adulthood each year must have access to employment, skills and opportunities to build sustainable livelihoods.
The President said government policy would increasingly focus on expanding productive employment, strengthening businesses and accelerating industrial development.
According to him, Nigeria’s natural gas resources would be deployed to support new industries, while businesses seeking to revive factories in major industrial centres would receive government support. He also announced plans to expand digital connectivity to underserved communities.
Tinubu said the government would invest more in skills demanded by employers, as well as infrastructure and financing to enable Nigerian businesses to expand their operations.
He also outlined an ambition for greater domestic production, saying Nigerian farms should supply local cities and factories while businesses produce goods capable of competing in international markets.
The President said young Nigerians should be encouraged to establish globally competitive companies within the country, creating employment opportunities for others in the process.
Tinubu linked industrial expansion and job creation to efforts to reduce the cost of living, arguing that higher domestic production and lower production and distribution costs could eventually translate into lower prices for consumers.
On agriculture, he said the government would increase investment in mechanised irrigation, dry season farming, improved seeds, fertiliser, agricultural machinery, storage and transportation.
The measures, he said, were aimed at raising farm output and reducing losses between production centres and markets.
He added that improvements in roads, railways and ports would strengthen connections between farms, factories and consumers, while reducing the cost and time involved in moving goods across the country.
Tinubu said lower production costs for farmers and manufacturers, reduced post harvest losses, improved electricity supply and more efficient transportation would collectively help ease pressure on the prices of goods.
The President, however, acknowledged that millions of Nigerians continue to face financial difficulties despite the economic reforms implemented by his administration over the past three years.
He said the government would strengthen direct support for vulnerable households, improve the National Social Register and expand access to education, healthcare and consumer credit.
Tinubu described the social support measures as a bridge towards a more productive economy rather than a permanent substitute for economic prosperity.
He acknowledged that achieving the desired transformation would take time and require sustained economic growth, policy discipline and the creation of millions of productive opportunities.
The President said the long term objective remained an economy in which the benefits of growth were broadly shared and Nigerians could improve their standard of living through productive work and enterprise.
