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Nigeria Has Created 1.2 Million Jobs In 2014 – CBN

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The governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, has reported that Nigeria economy has within a year, created a total of 1.2 million jobs with private sectors being principal facilitator.

He told the international financial community that private sectors constituted 91 per cent of this job creation report, which he delivered on Sunday, October 12, 2014 at the JP Morgan event in Washington.

Speaking at the 2014 IMF/World Bank Group Annual Meetings, Emefiele said  that the economy has created over 500, 000 jobs in the first half of 2014 as almost 40 per cent of employers cited business expansion as the reason for continuous need for recruitment.

According to Mr Godwin, “However, given that over one million persons enter the job market annually, there appears to be room for improvement.  He said the economy has remained resilient due to the fact that “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 also analysed the four basic pillars upon which the financial are built as he identified 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.

He furthered assured that Nigeria shall become one of the world’s biggest economy as the modality to sustain the existing system is in place

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