The Federal Government, under the leadership of President Bola Ahmed Tinubu, is set to unveil the Renewed Hope Labour Employment and Empowerment Program (LEEP) later this month, aiming to create 2.5 million jobs annually.
President Tinubu made this announcement during his speech commemorating Nigeria’s 64th Independence Anniversary, highlighting LEEP as a comprehensive job-creation initiative driven by the Federal Ministry of Labour and Employment.
“The program is designed to facilitate the creation of 2.5 million jobs annually while ensuring the welfare and safety of workers across the nation,” President Tinubu stated.
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The President also acknowledged the economic challenges faced by Nigerians, particularly the rising cost of living and unemployment. He assured citizens that ongoing reforms would alleviate these hardships, calling for patience as the administration works to improve the country’s economic landscape.
The unemployment rate in Nigeria rose slightly to 5.3% in the first quarter of 2024, up from 5.0% in Q3 2023, as reported by the National Bureau of Statistics (NBS). However, youth unemployment saw a slight decline from 8.6% to 8.4% during the same period.
This new initiative is part of the government’s broader strategy to boost job creation, strengthen the economy, and ensure social welfare. Earlier initiatives, such as the National Strategy for Competitiveness in Raw Material and Product Development, have also contributed to employment growth, with plans to generate over 4.4 million jobs in the raw materials and manufacturing sectors.
