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Does Nigeria Have A Combined Unemployment Rate Of 55%?
Claim 1: A presidential aspirant for 2023 general elections has claimed that Nigeria has a combined unemployment rate (unemployment and under-employment) of 55 percent. Claim 2: He also claimed that 60% of Nigeria youths are unemployed (unemployment and under-employment combined) Verdict: FALSE. Data shows that these figures, when combined, are above the numbers stated by…
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Nigeria’s Active Labour Force Lost 20 Million
Between 2018 and 2020, the number of Nigerians active in the labour force plunged by 20 million, the World Bank has said. The bank said this in a report titled ‘Of roads less traveled: Assessing the potential for migration to provide overseas jobs for Nigeria’s youth.’ It added that the drop in active labour force…
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Unemployment To Push More Nigerians Into Poverty
Many Nigerians are expected to fall into the poverty amid rising unemployment in the country, the Nigerian Economic Summit Group has said. The NESG, a private sector-led think-tank, noted in its economic report for the first quarter of 2021 that the country’s economic growth in the period under review was relatively weak. “Nigeria’s economic…
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Special Report: Dead People Don’t Pay Tax, The Downside Of Bad Governance
Bad governance is likened to the unfavourable relationship between those who govern and those who are governed which eventually results in negative consequences. The failure in governance in Nigeria, one of the world’s most corrupt countries, is accompanied by a score of other specific threats to human security, including the pressures of globalization, poverty, unemployment,…
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Nigeria Leads Bitcoin P2P Trading Across Africa in Q1 2021
Despite the suspension of crypto trading in Nigeria, amidst regulatory works, Nigeria is leading the Bitcoin P2P trading in Africa in the first quarter of 2021. Between January and March, Nigeria posted a peer-to-peer (P2P) Bitcoin trading value worth $99.1 million, Kenya followed with $38.4 million,( $61 million less than Nigeria’s). Ghana and South Africa…
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Report: Corruption, Unemployment, Insecurity Top Nigerians’ Woes
A pan-African survey research network, Afrobarometer, have identified 10 major woes of Nigerians saying corruption, unemployment, insecurity tops the chart. Afrobarometer provides data on African experiences and evaluations of democracy, governance and quality of life. The report, presented by CDD-Ghana through the head of Corporate Communications of NOIPolls, a data research company, Mrs Nelly…
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Why 50 Million Nigerians Must Not Be Drafted Into The Army
APC leader and presidential aspirant, Bola Tinubu recently advised President Muhammadu Buhari to enlist unemployed Nigerian youths into the army to help fight insecurity. “Recruiting 50 million young Nigerians into the army will cut off terrorism supply line”, Tinubu said during a lengthy speech on insecurity at his 12th Colloquium which held in Kano on…
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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…
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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…
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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…