Over 4.5m Nigerians Jobless Since 2015 – KADCCIMA

Over 4.5 million Nigerians have become jobless since last year, adding 2.6 million to unemployment figures of 1.46 million recorded in the ?third quarter of 2015 and 518.102 in the fourth quarter of 2015, Kaduna Chambers of Commerce, Industry, Mines and Agriculture (KADCCIMA) has disclosed.

The immediate past president of the KADCCIMA, Dr Abdul-Alimi Bello?, stated this in his welcome address delivered at the weekend on the occasion of the combined 41st and 42nd Annual General Meeting (AGM) and presentation of award of excellence to organizations and individuals.

The ceremony which took place at the Hamdala Hotel Kaduna also saw to the emergence of new leadership? with Dr. Muheeba H. Dankaka as the new President.?

Others are Dr. Aliyu Dikko, Alh. Suleiman Aliyu as first and second deputy President respectively while othe?r council members are Hon. Ishaya Idi?, Hajiya Rakiya Musa, Dr. Segun Falope, Alh. Tijjani Musa, Dr. David Obiora, Alh. Lawal Umar Mayere, Alh. Farouk Suleiman, Hajiya Fati Usman, Engr. Sunday G. Mshelia, Alh. Shehu M. Shitu, Mal. Gimba H. Ibrahim, Aliyu Mamman, KIFC Representative, BOA Representative, PAN Representative, Textiles Representative, Unity Bank Representative and NNDC Representative? who are to serve for two years term.

?Dr Bello further disclosed in his address that, “according to reports during the reference period, the unemployment in the labour market increased. By. 1,158,700. Persons resulting in an increase in the national unemployment rate to 13.3 percent in second quarter of 2016 from 12.1 percent in 2016, 10.4. Percent in 2015 from 9.9 percent in third quarter 2015 and from. 8.2 percent in 2015.

“The value of capital imported into Nigeria in the second quarter of 2016 was estimated. At. $647.1 million which represents a fall of 75.73 percent relative to the second quarter in 2015. This provisional figure would. Be the lowest level of capital imported into. Economy on record and. Would also represent the largest year on year decrease.

“During the period under review, there have been unprecedented job losses in most sectors of the economy. A challenging period from the oil sectors where companies have recorded inability to service debts and have embarked on mass retrenchment to the manufacturing sector where companies have embarked on. Job termination to reduce non business critical costs to banking where institutions have terminated the employment of over 5,000 workers this year alone in a. Bid to optimize operations.

“The Manufacturers Association of Nigeria (MAN) reported that 58 members of the association had closed down due to the. Unavailability of raw materials, a fall out of forex restrictions from the federal government. The closures resulted in over 4.5 milliom workers being forced into redundancy.”

As a way forward, he suggested that the federal government must ensure that there is timely and transparent allocation of allocation of forex to manufacturers? to import spare parts and raw materials for production activities.

“Ensure effective patronage of locally manufactured goods as well as domestic service providers in all ramifications.

“Ensure prompt payment for goods. And services supplied to all MDAs? so as to speed up the deflation process in the economy and

“Ensure active promotion of PPP? for the. Envisaged infrastructure development by federal and state government.”