growth in key sectors of the economy. She said the sectors included agriculture, financial services, and the creative Industries such as the Nollywood. She urged the citizenry to support all the efforts of the Federal Government, adding that it was working in the interest of the common man. She said the Community Services Scheme under SURE-P was developed to empower young unskilled Nigerians, women and people with disabilities. “No fewer than 120,000 Nigerians, mostly young workers, have been engaged under the programme across the country,’’ she said. She said that the government borrowed in 2010 to pay an unprecedented 53.7 per cent wage increase to all categories of federal government employees as demanded by labour. “The total wage bill rose from N857 billion in 2009 to about N1.4 trillion in 2010 and as a result, domestic borrowing increased from N200 billion in 2007 to about N1.1 trillion in 2010 to meet the wage payments. The minister said the current administration had been prudent with regards to debt and borrowing. She said that the Economic Management Team not only looked at debt to GDP ratio, where Nigeria had one of the lowest in the world at 12.51 per cent but also looked at debt service to revenues. “That is why in spite of the rebasing and a larger GDP, the administration has taken a prudent approach to borrowing. “The prudent approach helped to drive down domestic borrowing from N1.1 trillion in 2010 to N642 billion in 2014. “In fact for the first time in our nation’s borrowing history, we managed to retire N75 billion worth of domestic bonds in 2013,’’ she said. She assured the citizenry that the Federal Government would continue to work hard to ensure inclusive economic growth and development. (NAN) - See more at: http://www.ngrguardiannews.com/news/national-news/195679-22-000-graduates-benefit-from-fg-s-graduate-internship-programme-says-okonjo-iweala#sthash.8sQcoSGX.dpuf
22,000 graduates benefit from FG’s graduate internship programme, says Okonjo-Iweala
growth in key sectors of the economy. She said the sectors included agriculture, financial services, and the creative Industries such as the Nollywood. She urged the citizenry to support all the efforts of the Federal Government, adding that it was working in the interest of the common man. She said the Community Services Scheme under SURE-P was developed to empower young unskilled Nigerians, women and people with disabilities. “No fewer than 120,000 Nigerians, mostly young workers, have been engaged under the programme across the country,’’ she said. She said that the government borrowed in 2010 to pay an unprecedented 53.7 per cent wage increase to all categories of federal government employees as demanded by labour. “The total wage bill rose from N857 billion in 2009 to about N1.4 trillion in 2010 and as a result, domestic borrowing increased from N200 billion in 2007 to about N1.1 trillion in 2010 to meet the wage payments. The minister said the current administration had been prudent with regards to debt and borrowing. She said that the Economic Management Team not only looked at debt to GDP ratio, where Nigeria had one of the lowest in the world at 12.51 per cent but also looked at debt service to revenues. “That is why in spite of the rebasing and a larger GDP, the administration has taken a prudent approach to borrowing. “The prudent approach helped to drive down domestic borrowing from N1.1 trillion in 2010 to N642 billion in 2014. “In fact for the first time in our nation’s borrowing history, we managed to retire N75 billion worth of domestic bonds in 2013,’’ she said. She assured the citizenry that the Federal Government would continue to work hard to ensure inclusive economic growth and development. (NAN) - See more at: http://www.ngrguardiannews.com/news/national-news/195679-22-000-graduates-benefit-from-fg-s-graduate-internship-programme-says-okonjo-iweala#sthash.8sQcoSGX.dpuf
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