Though Buhari’s recent 2016 Budget has sparked lots of controversies, it apparently considers the challenges which the country is currently facing. If not for anything, it proposes to offer 500, 000 graduates teaching jobs.
The employment of 500,000 people as teachers is the highlight of the N6.08 trillion budget estimates for next year presented yesterday to the National Assembly by President Muhammadu Buhari.
The proposal which is the first by the Buhari led-administration, seeks to improve the economy and to make it more competitive by paying particular attention to infrastructural development, delivering inclusive growth and prioritizing the welfare of Nigerians.
It is, in the words of the President, created to make sure that “we revive our economy, deliver inclusive growth to Nigerians and create a significant number of jobs”.
He added that the budget proposal will help the industry, commerce and investment pick up, and also assist in addressing youth unemployment and the terrible living conditions of the extremely poor and vulnerable.
According to the president:
The government aims to ensure macroeconomic stability by achieving a real GDP growth rate of 4.37% and managing inflation.
To achieve this, fiscal, monetary, trade and industrial policies will be aligned.
As we focus on inclusive growth, we are conscious of the current rate of unemployment and underemployment.
This is a challenge we are determined to meet; and this budget is the platform for putting more Nigerians to work. I can assure you that this administration will have a job creation focus in every aspect of the execution of this budget.
Nigeria’s job creation drive will be private sector led. We will encourage this by a reduction in tax rates for smaller businesses as well as subsidised funding for priority sectors, such as agriculture and solid minerals.
As an emergency measure, to address the chronic shortage of teachers in public schools across the country, we also will partner with state and local governments to recruit, train and deploy 500,000 unemployed graduates and NCE holders.
These graduate teachers will be deployed to primary schools, thereby, enhancing the provision of basic education, especially in our rural areas.”
The President added that they also plan to partner with State and Local Governments to make available financial training and loans to market women, traders and artisans, through their cooperative societies.
View the Facts and Figures of The Budget 2016
- Buhari apologizes for fuel scarcity •Cash transfer for poor Nigerians
- Oil benchmark is $38 per barrel •Petrol price N87 ‘for now’
- Total budget – N6.08 tr •No provision for fuel subsidy
- Capital budget is N1.8tr •To restructure oil and gas sector
- Revenue projection – N3.86 tr •Meals for primary school pupils
- Deficit – N2.22 tr •Free Education for Science/Tech students
- Health – N221.7b •Transport – N202.0b
- Defence – N134.6b •Interior – N53.1b
- Works, Power and Housing – N433.4b
- Special Intervention Programmes – N200b
- Labour/Employment –N500b
- Education- N369.6b