Jack-Rich: I‘ll Revamp Nigeria’s Economy, Deal with Unemployment

Emmanuel Addeh

A presidential aspirant on the platform of the All Progressives Congress (APC), Tein Jack-Rich, has promised to revamp the country’s economy and deal with youth unemployment if he emerges Nigeria’s leader in 2023.

The billionaire businessman, who spoke on ARISE News Channel, THISDAY’s broadcast arm last night, noted that having been  in business for 24 years, he was the right person to lift Nigeria from its current impoverished state.

Describing 2023 as unique, he argued that Nigeria remains a high consumer economy, importing most of its basic needs, saying he couldn’t fold his arms while things continue to go astray.

“You see it (economic hardship) is almost hitting Western Europe right now. So that inclement economic shock wave will hit us real hard and you need a president who can mitigate that exposure by ensuring that what we have as strategic economic agents are activated.

“So, Nigeria needs the president that understands the dialectics of macroeconomic components, how to establish those key footprints within a geopolitical zones and states.

“So, you need a president that can work with state governments to understand their economic policies and models such that when the exposure comes, the mitigation is there,” he argued.

He added that the next president must have a strong and in-depth understanding of how the “microeconomic engine” works, so that the country can have a stable  growth and be able to balance its budget.

To create sustainable jobs, Jack-Rich pointed out that the first thing to do was to build a strong human resource base.

“So, I’m creating what I call centres of excellence in all the geopolitical zones, where our teeming youths can go get trained in basic skills.

“This is because when you come out of the universities, the youths are unable to get jobs because the type of skillset that is required to create that employment for this bunch of young boys and girls are not there.

“And that’s why you see a graduate who studied Petroleum Engineering is a cashier in the bank. Same reason that after reading accountancy, you are  somewhere in a security company, just being a security guard.

“ My model is such that in line with the key unique needs of those states, and those communities, we are able to establish the key industries,” the Belema Oil boss stated.

As part of ensuring this , he pledged to support fiscal federalism, so that other levels of government are not muzzled by the central government.

The businessman promised to ensure that 70 per cent of jobs goes to women who will be trained and offered starter packs of not less that N150,000.

 “They will provide the key elements that are consumed within those local communities, so they be able to produce what they consume,” he said.