Why current economy may not create expected jobs —Minister

Minister of Science and Technology, Dr Ogbonnaya Onu, has raised the alarm that many jobs might not be created for teeming Nigerians, especially graduates and youths, unless the nation`s economy changed from resource-based to knowledge and innovation-based.

He insisted that it was only when the economy was innovation driven that the government would be in a position to ensure that the achievements would be sustainable and competitive.

“It is only then that we can also guarantee that our economy will be in a position to create a number of jobs for teeming Nigerians,” said the minister while exchanging views with representatives of International Energy Charter, led by Dr Monica Emmanuel, who paid him a visit in Abuja.

Onu said that his ministry was, however, working hard in line with the current administration’s change agenda to diversify the country`s economy.

The minister noted that the economy grew just by six to seven per cent before the advent of the All Progressives Congress (APC) led government.

He said that explained why the economy was unable to create enough jobs for many jobless Nigerians.

According to him, the government was considering signing a treaty to become a member of the International Energy Charter, saying such a step would give the country the opportunity to share information and build capacity in research and skills development.

Earlier, the leader of the team, Dr Emmanuel, said that the membership would attract many international players in the energy industry to Nigeria.

She noted that the country was not yet tapping into half of its potentials.

She said: “For Nigeria to attract investors, you must ensure that your policies and programmes are conducive and also aligned with the international standard.

“Nigeria is a very big country with enormous resources and one of the big players in international energy sector.

“We want to attract much more that can move Nigeria to the level it is supposed to be. We need to align our policies to make our countries become more attractive and beneficial to investors because it has to be a win-win situation and not win-lose situation.”