Vunderkind
Social Member
An industrialist, Mr George Onafowokan, on Monday said unemployment could be reduced by extending the duration of National Youth Service Corps (NYSC) from one to two years.
Onafowokan, also the Chief Executive Officer of Coleman Cables, gave the suggestion in an interview with the News Agency of Nigeria (NAN) in Lagos.
``I think one of the ways to reduce the scourge of unemployment is to extend the time of service of youth corps members.
``When they serve the first year, they can stay in there for another year to enable them have something doing while searching for jobs, instead of just going back home to roam the streets.
``About the last count we can see that about 70 per cent of our youths are unemployed, this is an issue that the government needs to be sensitive about, because it is its duty.
``What I will recommend also is what happens in the developed world, which is some stipend be paid to the unemployed youths.
``They can be registered online, each local government, and there should be some sort of certification that such people are not already employed, so that they can be given something to survive.
``We could have stakeholders from the private sector also contribute just as little as one per cent of their profit to this course, while the government also contributes part of its revenue,” he said.
Onafowokan also said that the devaluation of the naira and the crash of the crude oil prices was a blessing to the economy.
He said that the situation would reveal the true status of the wealth and human capital of the country to channel its efforts to other areas of the economy.
Onafowokan urged government to ensure that favourable policies were being put in place for economic diversification, especially in agriculture, industry and manufacturing sectors.
He appealed to government to tackle the issue of power supply in order to crown its efforts at ensuring a diversified economy.
Onafowokan, also the Chief Executive Officer of Coleman Cables, gave the suggestion in an interview with the News Agency of Nigeria (NAN) in Lagos.
``I think one of the ways to reduce the scourge of unemployment is to extend the time of service of youth corps members.
``When they serve the first year, they can stay in there for another year to enable them have something doing while searching for jobs, instead of just going back home to roam the streets.
``About the last count we can see that about 70 per cent of our youths are unemployed, this is an issue that the government needs to be sensitive about, because it is its duty.
``What I will recommend also is what happens in the developed world, which is some stipend be paid to the unemployed youths.
``They can be registered online, each local government, and there should be some sort of certification that such people are not already employed, so that they can be given something to survive.
``We could have stakeholders from the private sector also contribute just as little as one per cent of their profit to this course, while the government also contributes part of its revenue,” he said.
Onafowokan also said that the devaluation of the naira and the crash of the crude oil prices was a blessing to the economy.
He said that the situation would reveal the true status of the wealth and human capital of the country to channel its efforts to other areas of the economy.
Onafowokan urged government to ensure that favourable policies were being put in place for economic diversification, especially in agriculture, industry and manufacturing sectors.
He appealed to government to tackle the issue of power supply in order to crown its efforts at ensuring a diversified economy.