Unemployment a ticking time bomb – Bankers association

Salako, who spoke in Lagos recently, described the situation as worrying, just as he urged the federal government to take necessary steps to tackle the menace.“We are worried that the teeming populations of our youths in the country are unemployed and we therefore urged the government to redefine the current economic policy to creating jobs […]

Salako, who spoke in Lagos recently, described the situation as worrying, just as he urged the federal government to take necessary steps to tackle the menace.
“We are worried that the teeming populations of our youths in the country are unemployed and we therefore urged the government to redefine the current economic policy to creating jobs opportunities as, indeed the scary reality of the high rate of unemployment is a ticking time bomb, which, if we fail to defuse as quickly as possible, may erode whatever semblance of social harmony and stability that is left of our polity.”
To achieve job growth, the association said the federal government should also  review of multiple agencies in the country.
“There is an urgent need for the government to consider strengthening all government regulatory agencies with a view to stemming the tide of smuggling in Nigeria because smuggling has been a burden nationwide.
“Despite our optimism based on the philosophy in the private sector never to give up but to continue to invent and re-invent adaptation models for continued  survival, we  still wish to call on federal government to create a sustainable and enabling environment for businesses to thrive, provide job, create wealth and contribute to national development,” Salako said.