Worried by the rising unemployment, the Chartered Institute of Personnel Management (CIPM) has urged the government to stem the tide in line with the report of its committee, reports Bukola Bolajoko.

Nigeria has been battling with a huge population of unemployed, or under-employed youths. This has prompted successive governments’ demonstrating highe resolve in the promotion of entrepreneurial skills, bearing in mind that the much desired boom and diversification of the nation’s economy can only be achieved through a buoyant Small and Medium Scale Enterprises (SME) sector which thrives on entrepreneurship.

Efforts by past administrations have brought about the emergence  of agencies and institutions such as the National Economic Reconstruction Fund (NERFUND) in 1989, with an initial capital outlay of N300million, Nigeria Export-Import Bank (NEXIM) in 1990 with paid-up capital of N1.367billion, the Peoples Bank in 1990 with N330million,

Also in the basket of job creation initiatives

were the Capital Market and the formulation of a policy in 1990 that promoted the establishment of Community Banks, which was later amended to give birth to Micro-Finance Banks (MfBs) in 2006. The Bank of Industry (BoI) was another financial institution created to promote the aforementioned in a bid to tackle unemployment. Read More from the Nation Newspaper