Business
Lagos, German Firm Partner On Job Creation Interventions
Lagos State Government and its German partner, GIZ firm, have sealed arrangements for an intervention targeted at scaling up the skill development capacity of youths in the state.
Lagos unveiled the partnership at an event organised by the State’s Ministry of Economic Planning and Budget in collaboration with Lagos State Employment Trust Fund (LSETF) and German Cooperation GIZ held at the Eko Hotels and Suites, Victoria Island tagged: “Lagos4Jobs: Public-Private Dialogue on Labour Market in Lagos State.”
The drive seeks to address the high rate of youth unemployment in Lagos; bridge the gap between job availability and employability in the labour market, design and create a labour market database for multiple stakeholders, as well as increasing more youth participation in technical and vocational education.
Commissioner for Economic Planning and Budget, Mr Sam Egube, said there was a consensus on the need to tackle unemployment especially among the youth in the state, saying the activities by different stakeholders in both private and public sectors are currently disjointed and pose a huge challenge.
He also stated the need for dialogue sessions between major players to share and deliberate on ways to bridge the gap.
According to him: “There is a consensus on the need to tackle unemployment, especially amongst the youth in Lagos State, activities by different stakeholders in both private and public sectors are currently fragmented.
“To drive initiatives around job creation, it is critical to developing a system that provides accurate and reliable data on the current job status of residents of Lagos State. A platform where multiple stakeholders can collaboratively synergize their information, expertise, and activities towards achieving the common goal – job creation and employment.
“A Labour Market Information System (LMIS) will aggregate data of Lagos residents by utilizing unique identification numbers like LASRRA number, Tax ID to track job status of residents with a view to developing initiatives that drive and continue to sustain employment and job creation.”
Tobias Wolfgarten, who is the Teamlead, GIZ, Skill Development for Youth Employment, SYKE project in Lagos, said the dialogue would provide avenues for various stakeholders to deliberate on relevant areas in job creation, different aspects of skill development and sustainable growth for decent employment.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.
