{"id":415761,"date":"2011-05-02T23:35:49","date_gmt":"2011-05-02T23:35:49","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/05\/02\/small-scale-business-fg-deploys-500-million-dollar-bonds-to-enhance-growth\/"},"modified":"2011-05-02T23:35:49","modified_gmt":"2011-05-02T23:35:49","slug":"small-scale-business-fg-deploys-500-million-dollar-bonds-to-enhance-growth","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/05\/02\/small-scale-business-fg-deploys-500-million-dollar-bonds-to-enhance-growth\/","title":{"rendered":"Small-Scale Business: FG deploys 500 million Dollar bonds to enhance growth"},"content":{"rendered":"
\n

The Federal Government has set aside 500 million dollars in bonds to assist\u00a0 the growth of small-scale businesses in the country.<\/p>\n

President Goodluck Jonathan said this on Sunday\u00a0 in Abuja while addressing workers to mark the\u00a0 2011 May Day celebration.<\/p>\n

The\u00a0 theme of Jonathan\u2019s address was, \u201cGrowing the\u00a0 National Economy for Job Creation and People\u201ds Welfare\u201d. Jonathan said that the Africa Development Bank (ADB)\u00a0 was also offering 500 million dollars to further encourage small-scale enterprises. He said that to further boost the economy, the\u00a0 government was on the verge of reducing the interest\u00a0 rate to single digit to facilitate borrowing.<\/p>\n

\u201cAll these are aimed at boosting the economy and\u00a0 creating more jobs,\u201d Jonathan said. The president also said that 10 power plants were\u00a0 being constructed to boost electricity supply. He added: \u201cWe are also building hydro-power plants\u00a0 in Mambilla and Zungeru as well as various other\u00a0 sub-stations across the country.<\/p>\n

\u201cAll these are aimed at ensuring steady power supply\u00a0 in the country and boosting the economy through the\u00a0 creation of the job opportunities.\u201d On workers\u2019 welfare, Jonathan said the government\u00a0 was conscious of their suffering but added that\u00a0 efforts were being made to improve their lot.<\/p>\n

According to him, the passage of the minimum wage\u00a0 bill into law has ensured that no employee earns\u00a0 less than N18,000. He gave an assurance that the proposed construction of 845,000 housing units for civil servants would be\u00a0 realisable. The President was represented by Vice-President\u00a0 Namadi Sambo.<\/p>\n

Also speaking, the Minister of Labour and Productivity, Chief Emeka Wogu, said the enactment of the Employees\u00a0 Compensation Act would address insecurity in the work\u00a0 place. Wogu stressed that workers who sustained injuries during\u00a0 while on service must be compensated.<\/p>\n

He added: \u201cWe shall also continue to come up with\u00a0 policies to encourage and promote social dialogue as\u00a0 well as the establishment of viable, collective machinery\u00a0 in both the public and private sectors of the economy.\u201d The minister expressed delight at the patience and\u00a0 attitude workers displayed during negotiations for the\u00a0 minimum wage, noting that Nigerian workers were among the best in the world.<\/p>\n

Abdulwaheed Omar, Chairman of the Nigeria Labour\u00a0 Congress (NLC), said although the economy was said to have grown by more than six per cent, unemployment and\u00a0 poverty remained critical challenges facing the nation.
Omar urged the government to take steps to quickly to reverse the current rise in the inflationary level.<\/p>\n

\u201cWhat we seek is a balance and inclusive growth; what\u00a0 is needed is the developmental state that will lead to creation of an economy that is people centred, one that\u00a0 would promote true development and not jobless growth,\u201d\u00a0 he said.<\/p>\n

Mr Peter Esele, Chairman of the Trade Union Congress\u00a0 (TUC), said the challenge facing the country was to\u00a0 generate more wealth to meet a growing population\u00a0 that was projected to double in 2050. Esele noted that increasing the size of the economy\u00a0 would require an annual gross domestic productivity\u00a0 growth in double digits to achieve the country\u201ds 2020\u00a0 millennium goal.<\/p>\n<\/div>\n

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The Federal Government has set aside 500 million dollars in bonds to assist\u00a0 the growth of small-scale businesses in the country. President Goodluck Jonathan said this on Sunday\u00a0 in Abuja while addressing workers to mark the\u00a0 2011 May Day celebration. The\u00a0 theme of Jonathan\u2019s address was, \u201cGrowing the\u00a0 National Economy for Job Creation and People\u201ds Welfare\u201d. <\/p>\n","protected":false},"author":0,"featured_media":415287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-415761","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-news"},"yoast_head":"\nSmall-Scale Business: FG deploys 500 million Dollar bonds to enhance growth - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/05\/02\/small-scale-business-fg-deploys-500-million-dollar-bonds-to-enhance-growth\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Small-Scale Business: FG deploys 500 million Dollar bonds to enhance growth - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"The Federal Government has set aside 500 million dollars in bonds to assist\u00a0 the growth of small-scale businesses in the country. 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