The Minister of Budget and National Planning, Udoma Udo Udoma, has said that Nigerians will feel the impact of the economy soon.
He said, “When an economy starts to grow it takes time before people start to feel the impact.
The Minister explained that the economy is growing slowing at 1.9 percent, Nigerians are however yet to feel the impacts through the creation of more jobs among others.
“An economy that is growing at 1.9% people will rarely feel the impact but the important thing is for people to see the direction of growth which should get them optimistic because our target is 7% by 2020.
According to him, the citizens would begin to appreciate the policies geared towards economic growth when it moves upward to about 5 percent.
“By the time we get to 4-5% people will rarely feel the impact of the economy”, he added.
The minister stated this on Tuesday when he appeared as a guest on Channels Television’s breakfast programme, Sunrise Daily.
He addressed the issue of jobs, stating that the Federal Government is engaging people the unemployed through the construction activities that are ongoing.
“Agriculture is creating jobs and also the Social Intervention Programme is creating jobs, so over time the job impact will be felt”.
Earlier, President Muhammadu Buhari revealed plans to create more than 500,000 jobs by 2020 which will help reduce the rate of unemployment affecting the country.