The Government of Nigeria created 1.7 million jobs in 2013, Central Bank of Nigeria Governor, Mr. Godwin Emefiele at a JPMorgan organized global finance event in Washington DC recently. According to him, about 91 percent of all jobs were created by the private sector.
“For the first half of 2014, the economy has created over 500, 000 jobs and “interestingly, almost 40 per cent of employers cited “business expansion” as the reason for hiring new staff,” he said.
“However, given that over one million persons enter the job market annually, there appears to be room for improvement. The system has endured over ten years of reforms. In the financial system, we have now had about a decade of sustained reforms to make us a better system,” he continued.
The Governor emphasised that since the global financial crisis of 2007/2008, the bank has focused on four major reforms namely: enhancing the quality of banks, establishing financial system stability, enabling a healthy financial sector evolution, and ensuring that the financial sector contributes to the real economy