-
South Africa, Namibia, Nigeria Top Global Unemployment Rates
According to a recent report published by Bloomberg, Nigeria has the third highest unemployment rate at 33.3 percent among a list of 82 countries. Nigeria comes behind South Africa which has the highest rate and Namibia. According to the report, South Africa’s unemployment rate rose to 34.4 percent in the second quarter from 32.6 percent.…
-
NBS: Employment Declines By 2% In February
The National Bureau of Statistics (NBS) said the share of Nigerians working in February 2021 dropped by 2 percent from 72 percent recorded in September 2020. According to the data by the COVID-19 impact monitoring in February 2021, the share of Nigerians who were working in February 2021 was close to 70 per cent. The…
-
Q4 2020: Nigeria’s Unemployment Rate Rise To 33.3%
Nigeria’s unemployment rate at the end of 2020 increased by 6.2 percent in the fourth quarter from 27.1 percent recorded in the second quarter of 2020. The increase, 33.3 percent, indicates that about 23,187,389 (23.2 million) Nigerians remain unemployed in the fourth quarter. This is according to the recently released labour force report published by…
-
In 10yrs, Nigeria Unemployment Grew By Over 400 percent
According to data collected from the National Bureau of Statistics, the unemployment rate of Nigeria has grown by 445 percent in the last 10 years. While the nation still combats economic instabilities within the year in view, the expectation by different governments to reduce unemployment has failed as the data obtained shows a steady increase…
-
Economic Consequence of Hike in Nigeria’s Unemployment Rates
In 2019, Nigeria’s unemployment rate stood at 23.1 percent of the workforce in the third quarter, up from 18.1 percent of the previous year. In 2020, Nigeria’s unemployment rate came in at 27.1 percent, the highest on record which the government blamed on the coronavirus pandemic and the fall in global oil price. Facts however still remain that restive…
-
Poverty Alleviation: Unrealistic And Unproductive
The concept of poverty is that it hinders the development of a country. The world bank measures poverty in terms of daily spending of $1 to $2 per day per person. Previous administrations in Nigeria have continually made efforts to address the challenges of poverty through different programs and policies, some of them include National…