Economy

Sanwo-Olu, UNDP Push Bold Youth Employment Drive

Published

6 months ago

May 15, 2026

Sanwo-Olu and partners renewed support for a youth employment drive aimed at reducing unemployment and boosting skills development

Lagos State Governor Babajide Sanwo-Olu, the United Nations Development Programme, the European Union and major private sector stakeholders on Friday renewed calls for stronger collaboration to address rising unemployment and underemployment among Nigerian youths.

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The appeal was made during the Nigeria Jubilee Fellows Programme 2.0 Employers’ Forum held in Lagos, where government officials, development partners and employers examined strategies for strengthening Nigeria’s workforce pipeline and expanding opportunities for young graduates.

The Nigeria Jubilee Fellows Programme is a Federal Government initiative funded by the European Union and implemented by the UNDP to bridge the gap between tertiary education and the labour market through workplace training, mentorship and professional experience.

Sanwo-Olu, represented at the event by Chairman of the Lagos State Civil Service Commission, Boladele Dapo-Thomas, reaffirmed the state government’s commitment to youth empowerment and deeper engagement with the private sector to stimulate job creation.

The governor praised the European Union for sustaining support towards Nigeria’s socio-economic development and described the programme as a powerful investment in human capital development.

“I commend the European Union for its sustained funding and commitment to Nigeria’s socio-economic transformation,” Sanwo-Olu said through his representative.

“I equally commend UNDP Nigeria for the excellence of its implementation and applaud every employer present here today.”

According to the governor, organisations participating in the initiative by hosting fellows and offering mentorship opportunities were directly contributing to the next phase of Nigeria’s economic growth.

Speaking at the forum, Inga Stefanowicz reaffirmed the European Union’s commitment to programmes focused on workforce development and employability for young people.

Stefanowicz said initiatives such as the NJFP were producing measurable impact by equipping graduates with practical skills while connecting them to meaningful workplace opportunities.

“The European Union is proud to support initiatives like NJFP that deliver tangible results for young people and businesses,” Stefanowicz said.

“By equipping graduates with relevant skills and connecting them to real workplace opportunities, we are not only addressing unemployment but also strengthening the foundations for sustainable economic growth.”

Resident Representative of the United Nations Development Programme in Nigeria, Elsie Attafuah, stressed the importance of sustained partnerships among government institutions, development agencies and the organised private sector in driving inclusive economic growth.

Attafuah described the Employers’ Forum as a critical platform for strengthening long-term collaboration between talent development, enterprise expansion and national economic transformation.

According to Attafuah, the participation of employers, technology firms, financial institutions, manufacturers and agribusinesses reflected growing recognition that workforce transformation must become a collective responsibility.

The youth employment drive also highlighted increasing confidence among employers in collaborative solutions designed to prepare Nigerian graduates for the rapidly evolving demands of the labour market.

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Stakeholders at the forum further explored sustainable pathways for reducing youth unemployment through innovation, entrepreneurship and skills acquisition across critical sectors of the economy.

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Economy

NRS Assures Taxpayers VAT Remains at 7.5% Amid Tax Reform Concerns

Published

12 hours ago

October 27, 2026

Peculiar Adirika

NRS VAT rate remains 7.5%, the agency says, while addressing concerns over bank deductions, loans and the implementation of Nigeria’s tax reforms

The Nigeria Revenue Service (NRS) has assured taxpayers that Nigeria’s standard Value Added Tax (VAT) rate remains 7.5 per cent, while addressing concerns over the implementation of the country’s new tax reforms.

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The assurance was given by the Tax Administrator responsible for Kano, Jigawa and Katsina states, Samaila Abdullahi, during an NRS stakeholders’ engagement and tax reform sensitisation programme in Kano.

Abdullahi said concerns raised by individuals, traders, business owners and other stakeholders about the new tax laws were understandable, particularly questions relating to bank transactions, loans, family transfers, business income and the potential impact on small businesses.

He urged taxpayers to understand the reforms through the provisions of the law rather than rely on assumptions or misinformation.

According to him, the tax laws do not automatically authorise deductions from personal bank accounts.

He stressed that tax collection and recovery must follow the applicable legal provisions and procedures.

Abdullahi also clarified that money received as a loan should not automatically be classified as business income or profit, explaining that proper documentation is essential to establish the nature of a transaction.

“For instance, when a trader receives a loan of N500,000, the amount should not automatically be treated as N500,000 in sales or profit, provided the transaction is properly documented,” he said.

The NRS official’s comments were aimed at addressing public concerns about how the new tax framework would affect personal finances and business transactions.

He emphasised the importance of distinguishing between taxable business receipts and other funds, such as documented loans, when determining a taxpayer’s obligations.

The clarification comes amid heightened public interest in Nigeria’s tax reforms and questions about their implications for individuals, traders and small businesses.