The Federal Government has secured over N44 billion funding
support from the World Bank and the UK Department for International Development
(DFID) to create 460,000 jobs across eight sectors of the economy under the
Growth and Employment (GEM) project over the next six years (2013-2018).
economyAmbassador Abdulkadir Musa, the Permanent Secretary, Federal Ministry of
Industry, Trade and Investment, disclosed this during a programme for GEM
Entertainment Cluster workshop held in Lagos. According to him, GEM is an
employment project formulated by the ministry and supported by World Bank and
the DFID. The DFID has provided 90 million Euros (about N18.5 billion) as grant
and the World Bank $160 million (about N25.6 billion concessionary loans for
the implementation of the project in Nigeria, he stated. He said that the
project which has started running since June last year and will expire
September 2018, is aimed at job creation and increased non-oil growth in
specific high-potential value chain sectors. Represented by Yunusa Labaran, GEM
Project Coordinator, the Permanent Secretary, explained that the project has
identified eight sectors based on their growth and employment potential and
they are: Entertainment industry, ICT, hospitality and tourism; meat and
leather, light manufacturing and agro processing; construction/real estate as
well as whole sale and retail sector.
Vanguard Newspaper
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