The Executive Secretary of NIPC Engineer Mustafa Bello said the Commission has proposed to the Federal Government the setting up of a Social Insurance Security Commission to address the problem of unemployment in the country.

The new commission will be similar to the National Health Insurance and Pension Fund schemes.

He explained that the proposed Commission by their projections will lead to the creation of about 517,000 jobs. He said the employees will be attached to various organizations and agencies relevant to their field of specialisations.

The proposed Commission will pay the employees N25, 000 salaries pending when they are absorbed by the establishments.

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He said: “If you read law, there are so many law firms we can send you to and the Social Insurance Commission will fund the law firm and if the law firm found you good and absorbed you then you disengage from the Commission.”

The proposed Commission which had been accepted by the presidency has been passed to the Federal Ministry of Labour and Productivity for further work.

Engineer Bello said the same model have been accepted at the NIPC where they created about 50 jobs under a unit that was formally called retainer but now executive trainee.

“I wish every agency of government can do that. We train them and many have gotten employment because of the exposure.

“This is a model we thought we can apply in the country so that people can be employed immediately they leave the University. The impact of it on the economy is that you are creating consumer capacity,” he said.

The exact number of unemployed in the country is not known.

Spokesman of the National Directorate of Employment (NDE) Barrister Nnamdi Asomugha said it is difficult to pin down the percentage of unemployed in the country because as many people are not employed many others are equally under-employed. The rough estimate of unemployed youth in Nigerian may be between 60 and 70 percent.