Business

Recession: Investing in cottage industries will cushion effects on youths

Recession: Investing in cottage industries will cushion effects on youths

Recession

He said that establishment of cottage industries would help to reduce the number of unemployed and under employed youths.

A Lagos based business tycoon, Kazeem Eletu-Odibo, has advised the three tiers of government to invest in cottage industries in order to cushion the effects of the current economic recession on Nigerian youths.

He gave the advice on Wednesday in Lagos in an interview with the News Agency of Nigeria (NAN).

He said that establishment of cottage industries would help to reduce the number of unemployed and under employed youths roaming the streets of the country.

“It has become almost impossible to be quiet about the state of the economy and how it affects the average Nigerian, especially young people."

“Government only pay lip service to improving other sectors that will provide sources of funds for the country but we don’t see the results,” he said.

Eletu-Odibo said that cottage industries would absorb a lot of youths who have become jobless due to the recession.

“If the government can assist the grassroots with basic facilities to run local industries whose labour force consists of family units, we will gradually clear unemployed but capable hands off the streets, “he said.

He advised youths to stay focused and get engage in vocational activities while the government seeks solution to the hardship being faced by Nigerians. 

Source: Business

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