Chairman, Senate Committee on Employment, Labour and Productivity, Sen. Benjamin Uwajumogu has commended President Muhammadu Buhari’s economic development agenda leading to current rise in employment figures in the country.
Uwajumogu gave the commendation in a statement he issued on Sunday in Abuja, while reacting to the July Purchasing Index Report (PMI) report of the Central Bank of Nigeria (CBN).
He said the index which showed sustained rise in employment level index for 27 consecutive months, was an indication of economic policies of the Federal Government and was yielding sustainable development and dividends for citizens.
The CBN PMI report was a statistical tool used by the apex banking institution to measure 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 per cent.
Uwajumogu said the employment data was an indication of the success of the Economic Growth and Recovery Plan (EGRP) of the federal government, which was expanding the economic frontiers in different sectors.
He recalled that recently, an International economic rating agency based in USA, Fitch Solution predicted a 2.3 per cent growth in the country’s GDP.
Uwajumogu, representing Imo North Senatorial District, said the favourable prediction was an indication of a brighter economic outlook for Nigeria, as more Foreign Direct Investments would come into the country’s 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.
He said that through effective legislation and oversight responsibilities, the lawmakers would drive improved employment opportunities for the growing young population.
