Minister Charts Path For Economic Recovery

The Federal Government, yesterday, said that for the country to experience any form of growth and bounce back speedily from the effects of the Covid-19 pandemic, there has to be an increase in productivity.
It said this would counteract the effect of the Covid-19 pandemic and the age-long challenges of underdevelopment in the country.
The Minister of Labour and Employment, Senator Chris Ngige, stated this as he flagged-off the “Nigeria Public Sector Productivity and Innovation Summit”, organised by the National Productivity Centre, at the Nigerian Army Resource Centre, Abuja.
The minister, who was represented by the Permanent Secretary of the ministry, Yerima Peter Tarfa, said that to recover from the disruptive effect of the Covid-19 pandemic, there should be a determined effort to increase productivity level.
According to him, “It is a known fact that for us to experience any form of growth in our economy and bounce back speedily from the effects of ovid-19 pandemic, we will have to increase and grow our productivity.”
Ngige described as appropriate, the theme of the Summit: “Thriving at 60: Economic Productivity under Uncertain Times, Cutting through Complexities and Delivering Value”, noting that “those that will thrive under these uncertain times are those who are proactive and can deliver value-added products in the ever dynamic and competitive market place.”
He noted that Nigeria’s challenges of underdevelopment, which had persisted over the years in spite of her natural and human resources, had been attributed mainly to “the abysmal performance of the various sectors of the economy on the productivity scale.”
The minister stated that the government, however, had put in place a lot of social intervention programmes fund “to assist the populace to shake off the disruptive influence of Covid-19 pandemic and thrive in the performance of their various economic activities.”
He listed the programmes to include, the N50billion Targeted Credit Facility for households and SME adversely affected by the effects of Covid-19; the N100billion Health Sector Covid-19 Intervention Fund; N260billion SME Survival Fund to sustain, at least, 500,000 jobs in 50,000 SMEs over a period of three months.
He urged the participants to take advantage of the summit to improve on their knowledge of productivity, as well as on the ways and means of improving individual and organizational productivity.
Earlier, in a welcome address, the Director-General, National Productivity Centre, Dr Kashim Akor, enjoined Nigerians, both at individual and organisational levels, to develop the productivity mindset that would steer the nation to greatness.