Archive May 21, 2025

According to President Bola Tinubu, the growing population of Nigeria requires industrial solutions that will lead to “demographic dividends”.

Tinubu, who made this statement on Wednesday at the Taraba International Investment Summit, mentioned Taravest in the state capital of Jalingo.

The country cannot live off raw products and unprocessed minerals, according to the President, who was accompanied by Vice President Kashim Shettima. Instead, it requires factories that add value, clusters that encourage innovation, and industrial parks that create impact.

We are aware that the growing population calls for an industrial solution. But visionaries are essential above all. We need people who can see beyond the narrow confines of trade and into the worlds of industry.

Aliko Dangote is a must-have. Tony Elumelu is a must-have. Africa is currently facing a global growth trajectory, and Nigeria will either reverse or reverse it, he added.

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According to Tinubu, the projected rise would result in a demographic disaster if not well-harnessed, making Nigeria the third-most populous nation on earth by 2050.

440 million people will be in our country by 2050. And how will you handle the anticipated population growth? We have two options: turning the anticipated bulge into demographic dividends, or a demographic disaster that will enslave everyone.

I think we have the resources, the capacity, and the men to turn our young people into growth engines. Europe as a whole is aging. Asian tigers are getting older as well; He claimed that China is getting older.

He claimed that given the global talent gap, Nigeria could use its young, resilient population.

The President stated that during the former administration of Goodluck Ebele Jonathan, the oil industry generated $35 billion in 2011. India generated $ 120 billion in outsourcing in the last year. The opportunities are endless, then.

In spite of the intonation, I believe the majority of the Western audiences here could understand what I was talking about because there are more English speakers in Nigeria than India.

The Indian variety is superior to the Nigerian English, with all due respect. Is this my fault? And we benefit from being closer to Europe.

Let us unite into one, because poverty knows no ethnicity, no religion, or no tribe, regardless of our political affiliations, religious beliefs, tribal or sectional backgrounds. Let’s band as a people. ”

Why is an investment summit important?

More than its breathtaking mountains and other attractions, he noted that the summit was significant because Taraba contributes strategically to the country’s shared prosperity.

He asserted that the other’s parts are a gift from one another. Each one complements the other in such a way that often the sufficiency of one region is replaced by the sufficiency of the other.

No region of this country can thrive in isolation, so we must first realize that this is where we must be as a nation. We are here because of this; that’s why this summit is significant. ”

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Tinubu claimed that the world was experiencing a new wave of the industrial revolution, which would require that Nigeria’s productivity grow to reflect the size of its population.

It requires that farmers in our area switch to tractors and harvesters instead of horses and cutlasses. It requires that our energy suppliers move beyond domestic and household energy to energizing large-scale industries.

Our mining industry must also change in line with international standards and requirements. In this way do we compete with the rest of the world. He continued, “This is how we maintain our relevance.”

However, he claimed that the Federal Government’s reforms were deliberate steps in creating an environment where business thrives, while investors’ competence is not a guarantee but rather a gamble.

The President continued, “We seek collaborators and partners in progress.” Following this gathering, the government will support you in every way possible. We don’t observe things from a distance. We are here to support you and offer the institutional support needed to realize your goals. ”

A bill that seeks to regulate informal employment and authorize private job agency licensing to protect the rights of informal workers has been moved for second reading in the Senate.

Senator Mohammed Sani Musa is the sponsor of the proposed legislation, known as the Informal Sector Private Employment Agencies (Regulation) Bill 2025.

The bill also grants the National Directorate of Employment (NDE) regulatory authority, giving it the same authority as it does for domestic workers, apprentices, interns, and other unregulated jobs.

Senator Musa, who was the subject of the debate on the Senate floor, stated that the bill was intended to address “the informal sector’s widespread labor rights violations, abuse, and lack of regulation,” which he characterized as a crucial but fragile component of the workforce in Nigeria.

He noted that the informal sector suffers from unfair working conditions, low wages, and poor social protections despite its economic importance.

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The bill would give the NDE authority to grant licenses to private employment agencies and make sure their operations adhere to “standardized, transparent, and fair practices” according to the senator.

He added that authorized organizations would be required to keep a database of employees in the informal sector, safeguard their rights, and ensure that hiring only takes place under fair conditions and by employees who are employed by legitimate businesses.

Additionally, the bill recommends that licensing officers be appointed across the country to monitor and enforce the proposed regulations.