World Bank, FG $750m Programme To Generate 21m Jobs

The Federal Government says its $750 million World Bank-backed State Action on Business Enabling Reforms, SABER is expected to create over 21 million full-time jobs.

Dr Jumoke Oduwole, the Special Adviser to the President on Ease of Doing Business, and the Secretary PEBEC, disclosed this in Abuja on Sunday, the News Agency of Nigeria, NAN reports.

The presidential aide stated that the $750 million financing amounts to 36 percent of the $2 billion Government SABER programme (2022 – 2025).

The figure she said represents the aggregate recurrent expenditure of key ministries, departments, and agencies, MDAs at federal and state levels across the country.

“The SABER programme is a three-year performance-based intervention jointly designed by the World Bank Technical team and the PEBEC Secretariat with support from the Federal Ministry of Finance, Budget and National Planning (FMFBNP) and the Home Finance Department and the Nigeria Governors’ Forum (NGF) Secretariat.

“It further gives expression to the Ease of Doing Business (EoDB) mandate articulated in the Economic Recovery and Growth Plan (ERGP).

”The programme was subsequently retained in the National Development Plan (NDP), aimed at generating 21 million full-time jobs and lifting 35 million people out of poverty by 2025”, Oduwole said.

Oduwole said state governments and the Federal Capital Territory, FCT that create an enabling environment for businesses to thrive will have access to at least $52 million within three years.

She said, “All participating states and the FCT could potentially receive a maximum of 52.5 million dollars during the three-year period.

“In addition to the already-existing PEBEC-NEC subnational intervention, the SABER programme seeks to provide additional incentives, such as using results-based financing targeted at improving the business environment and facilitating crowding in of private sector investments at scale.

“The eligibility criteria for the programme include developing an annual action plan with private sector collaborators to be approved by the State Executive Council (SEC) and published online.

“Recommendations from the 2nd Subnational Ease of Doing Business (EoDB) report, due to be released in October 2022, are also expected to be considered.”