Reps urge FG to bailout ailing industries
Worried by growing unemployment in the country, the House of Representatives on Thursday urged the federal government to provide bail-out funds for ailing industries.
The resolution is sequel to the adoption of a motion sponsored by Rep. James Faleke (APC/Lagos) on the need to bail-out ailing industries and create jobs for Nigerian youths.
Leading debate on the general principles of the motion, Rep. Faleke observed that no fewer than 1.3 million youths graduate from universities annually without jobs for them.
He noted that if government can revive most of the ailing and moribund industries, it will go a long way to create jobs and reduce violent crimes in the country.
In his contribution to the debate,Rep. Chris Azubuogu recalled that the high rate of crime in the country is largely due to unemployment and urged members to support the motion.
However, a member representing Fagge Federal Constituency of Kano state, observed that unless the issue of epileptic power supply is tackled, industries may not be able to survive in the country.
He suggested that the federal government should first revive the power sector before the issue of bail-out funds for ailing industries can be addressed.
At the end of debate on the motion, the House unanimously adopted the motion through voice vote, resulting in the Speaker, Femi Gbajabiamila refering the motion to the House Committee on Industry.
