The Chairman, Senate Committee on Employment, Labour & Productivity, Senator Benjamin Uwajumogu has commended the efforts of President Muhammadu Buhari in his economic development agenda which has led to the current rise of employment figures in the country.
Reacting to the July 2019 Purchasing Index Report (PMI) report of the Central Bank of Nigeria (CBN) which showed sustained rise in employment level index for the 27th consecutive month, Sen Uwajumogu stated that the economic policies of the Federal Govt was yielding sustainable development and dividends for citizens of the country.
The CBN PMI report is a statistical tool used by the apex banking institution to measure the performance of economic growth in some sub-sectors of the economy.
The report also indicated expansion in the manufacturing sector for the 28th consecutive month with production level growing at 58.9%.
Senator Uwajumogu declared that the employment data was an indication of the success of the Economic Growth and Recovery Plan of the Federal Government which he added, was expanding the economic frontiers of the different sectors of the economy.
He added that an International economic rating agency based in USA, Fitch Solution recently predicted a 2.3% growth in the country’s GDP.
The Senator representing Imo North Senatorial District noted that this favourable rating by Fitch was an indication of a brighter economic outlook for Nigeria as more Foreign Direct Investments will pour into the economy leading to increase in employment and productivity.
Uwajumogu assured that the 9th Senate of the National Assembly would cooperate with relevant Government agencies to sustain the economic policies that will drive improved employment opportunities for the growing young population through effective legislation and oversight responsibilities.