Investment in Housing Will Create 24 Million Jobs

The Federal Government has been advised to invest more in the housing subsector as a way to tackle the problem of unemployment in the country.

Experts say the sector will generate over 24 million jobs in the economy. Speaking at the Institute of Directors, IOD annual Dinner, former Governor of Ogun State, Otunba Gbenga Daniel reiterated the need to shift attention from the dwindling oil sector, noting that the country had attained the level where the issue of unemployment should not be a social problem considering its numerous opportunities and resources. He called on the present administration to explore the Agriculture and Housing sectors ,as heavy and well managed investment in the sectors would provide the needed recovery in the employment market.

"My formular to dealing with the unemployment in the country is the development of two key sectors: Construction and Agriculture. For instance, if the construction industry gets adequate attention in terms of investment, the multiplier effect will be limitless because construction affects everybody. In Nigeria today, the demand for construction is more than enough .if the government should deliver up to a million houses, then it will automatically create about 8 million direct jobs, and looking at the multiplier effect of those who will benefit from the direct jobs, then we should be looking at 24 million jobs or more. If 24 million people are taken out of the unemployment market, then, the country is relieved."

"The same thing goes to the Agriculture sector, the sector boasts of numerous job prospects only if it is given the required attention", he said.

The former Ogun State governor also pleaded with private sector to join hands with the public sector in bringing about an unemployment free Nigeria, adding that the nation could only move forward with the collaboration of the two sectors. The President of the Institute, Mr. Yemi Akeju also pointed at how the challenge of insecurity had reduced the flow of investment in the country, thus hindering development and the opportunity to create jobs.

He said "The Institute is fully aware and concerned about this plight, and so we urge every right thinking Nigerian to join hands with the Federal Government to end insurgency in the country. We are very focused about the growth of Foreign Direct Investment in the country because we strongly believe that from the available statistics, the Nigeria government including the private sector alone cannot provide the needed development that can move the country forward".

He therefore called for total peace such that will encourage foreign investment in the country and consequently, the development of the economy.

Source: All Africa News