FG pledges focus on skills development to drive economic growth

The Federal Government on Thursday reaffirmed its commitment to large-scale human capital development as the cornerstone of Nigeria’s industrial and economic transformation, declaring that the nation’s wealth lies “not beneath the ground but in the minds and hands of its people.”

Speaking at the Industrial Training Fund and Nigeria Employers’ Consultative Association Stakeholders’ Dialogue Forum and 2023/2024 Outstanding Trainees’ Awards Ceremony in Abuja, the Minister of State for Finance, Doris Uzoka-Anite, said Nigeria’s long-term prosperity depends on empowering its youthful population through practical, industry-relevant skills.

The minister stressed that Nigeria must ensure its workforce is adequately equipped to harness the new industrial opportunities emerging across various sectors.

She explained that as the country transitions into the second phase of economic reforms, following President Bola Tinubu’s bold moves to remove subsidies on petroleum products and the foreign exchange market, the government expects an industrial boom that will drive growth towards achieving the President’s $1 1tn economy target

According to her, industrial skills will play a critical role in this phase, making the training programmes offered by the Industrial Training Fund vital to the nation’s economic transformation.

She said, “The true measure of a nation’s wealth lies not beneath the ground but in the minds, hands and hearts of its people. It is the skill, creativity and resilience of citizens that transform natural resources into real prosperity. The ability of a nation to train, equip and empower its people determines not only its productivity.

“But also its capacity to innovate and compete globally to sustain inclusive growth. As you know, I am a very strong advocate for the development of technical skills.