The Vice Presidential Candidate of the Peoples Democratic Party, PDP, Peter Obi, has said that Nigeria lost four million jobs in a six-month period, while China created 10 million jobs.
Obi, who said this at the ongoing Vice Presidential debate, at Transcorp Hilton, Abuja, which was monitored by Post-Nigeria, knocked the current administration, for failing in counter-terrorism, education, and job creation.
He said: “On the issue of unemployment, which is worsening, we can see that millions of our children are out of School. You can see from a study that there is a straight link between SMEs and growing your economy, and we are not supporting our own SMEs very well.
“If you look at what China has been able to do with SMEs, SMEs in China is contributing to 60 percent of their GDP. And 60 percent of China’s GDP is 7.2 trillion dollars, which is 18 percent of Nigeria’s GDP.
“China today, using the same SMEs, is guaranteeing 10 million jobs annually. Half of this year alone, China has produced 7.2 million jobs, which is over 40 percent of their target. Within the same period, Nigeria lost four million jobs.”
According to the former Anambra State Governor, Nigeria needs to rejig its policies and have a better focus on how it can create jobs.
He added that as long as Nigeria does not create jobs, with the number of unemployed youths in their productive age, Nigeria might go into crisis.
Obi continued: “That is why we have issues of insecurity, instability and all sorts of things we are witnessing today. We now live in a country where we have the highest number of poor people in any nation – 87 million and growing six percent every minute.
“Our country today has the highest number of School children in the world. Our HDI (Human Development Index), has dropped from 152 to 157. Our global competitive index has dropped from 124 to 127.
“In terrorism, we have moved from 7 to number 3, just behind Iran and Afghanistan. Our inequality has worsened. Our misery index has worsened. Stress index now places us at 148 of 149. These are hinged on two things from studies and that is on education and unemployment.”
According to Obi, with Nigeria unemployment moving from 24 to 40 percent, the more it can invest in education, the better its economy. He said the statistics showed Nigeria was not investing in education.
Elsewhere, to many Nigerians, Vice President, Yemi Osinbajo, goofed, for blaming the Peoples Democratic Party, PDP, for Nigeria’s weak economy, despite being in power for three and half years.
The Vice President issued the blame at the Vice Presidential Debate organised by the Broadcast Organisation of Nigeria, and the Nigeria Elections Debate Group, on Friday night.
He was asked to respond to questions on why Nigeria’s aggregate investment had not risen beyond 16 percent in the last 10 years, unlike South Africa and China.
Osinbajo said: “I think the common denominator between the two countries you mentioned is the strong infrastructure. Our nation in the past 16 years has suffered a major infrastructure deficit. So, we don’t have rails, roads. When we came into power in 2015, power was 4,000MW in 16 years.
“So, you need strong infrastructure. No one can argue about it. The second thing is you cannot have a strong economy if you allow the type of grand corruption that has taken place in Nigeria in the last 16 years.”
Recall, that Nigerians are tired of the ruling All Progressives Congress, APC, blaming the past administration for its failures, despite coming to power on the mantra of CHANGE.