Home » FG Takes Bold Steps to Combat Unemployment and Boost Economic Growth

FG Takes Bold Steps to Combat Unemployment and Boost Economic Growth

Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, outlines government's commitment to economic diversification.

by Ikeoluwa Juliana Ogungbangbe

The Federal Government of Nigeria is diligently addressing the pressing issues of unemployment, foreign exchange pressure, and economic diversification to stabilize the nation’s economy. Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, made this announcement during the inauguration of two new factories and an extension of the Tropical General Investment Group (TGI) in the Sagamu Interchange, Ogun State.

President Bola Ahmed Tinubu’s leadership, she emphasised, is resolute in overcoming these challenges and facilitating the growth of the manufacturing and value chain sectors to propel the country’s overall development.

“The challenge of unemployment, pressure on foreign exchange, and economic diversification is one that President Bola Ahmed Tinubu is determined to tackle conclusively,” stated the Minister. “Manufacturing and value chain addition is necessary for the overall development of our country. There is no way around it; the cause of inaction is huge and we cannot afford it.”

Ogun State Governor, Dapo Abiodun, also lauded the efforts of the TGI Group in promoting economic growth in the region. He commended the group’s commitment to corporate social responsibility and emphasised its role in fostering community development and support.

“The TGI Group is a testament to the success story of Ogun State and a shining example of foreign direct investment in the country,” Governor Abiodun remarked. “Thanks to the improved ranking of the state on the ease of doing business index, you are expanding your business, and we are proud to be associated with you.”

Governor Abiodun further highlighted that Ogun State has become the most improved economy in Nigeria, as well as one of the two most resilient states in the country.

The Federal Government’s proactive measures and collaborative efforts with industry leaders like the TGI Group demonstrate a clear commitment to addressing the nation’s economic challenges and fostering sustainable growth.

As Nigeria continues to grapple with the multifaceted challenges of unemployment, foreign exchange instability, and the need for economic diversification, these developments signal a renewed focus on economic stability and resilience.

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