Finance, Electricity and Corruption are key constraints to investment in Nigeria – AERC

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CEM REPORT | African Economic Research Consortium (AERC) has once again isolated access to finance, electricity issues and corruption as key constraints to investment in Nigeria.

According Guardian, AERC Agricultural Consultant, Dr Sarah Edewor said this in Abuja yesterday while delivering a presentation of AERC research findings at a workshop by the African Economic Research Consortium (AERC) and the Nigerian Economic Summit Group themed “Sectoral Development: Assessing the conditions that drive youth unemployment in key sectors of the Nigerian economy.”

Edewor revealed that the research shows that females assist males and help to increase remittances and that male employment was driven by the manufacturing and services sector, while the trade sector provided more employment opportunities for females.

Earlier, NESG Chief Executive Officer, Laoye Jaiyeola, represented by Research and Chief Economist, NESG, Dr Olusegun Omisakin, said the body would continue to champion economic growth in Nigeria, explaining that the event was aimed at disseminating key findings on drivers of unemployment and providing a platform to deliberate and share perspectives towards improving youth unemployment in Nigeria.

NESG CEO, stated that a study by the NESG and AERC used a sectoral approach to investigate youth unemployment in Nigeria and the need for sectoral reforms in manufacturing, trade, education, health, and ICT. He noted that a reform in the sectors would champion industrialization, strengthen the value chain and promote inclusive growth.

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Citing research from the National Bureau of Statistics (NBS) that 63 per cent of Nigerians between the ages of 13 and 34 are underemployed or unemployed, he regretted that youth unemployment has resulted in militancy, kidnapping, political thuggory, armed robbery, prostitution and other vices.

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