Revealed! 5.5 Nigerians became unemployed in Buhari’s 2 years in office - Report

Tuesday, June 06, 2017
Minister of Labour and employment, Senator Chris Ngige

 5.5 Nigerians became unemployed in Buhari’s 2 years in office - Report Author: Wale Akinola UPDATED: 8 MINUTES AGO VIEWS: 162 SHARE ON FACEBOOK SEND VIA EMAIL SEND ON WHATSAPP SHARE ON FACEBOOK SEND VIA EMAIL SEND ON WHATSAPP
- The National Bureau of Statistics (NBS) has revealed that 5.5 million Nigerians have become unemployed in the past two years of the current administration - The NBS report also indicated that Nigeria’s unemployment rate has risen to 14.2 per cent - The Federal Government had pledged to employ additional 350,000 unemployed graduates in 2017 under the N-Power Volunteer Corps Nigeria’s unemployment rate rose to 14.2 per cent in the fourth quarter of 2016, the National Bureau of Statistics (NBS), has said. Premium Times reports that the bureau disclosed that the rate rose from the 13.9 per cent recorded in the preceding quarter of the year under review.
In Q4 2016, the labour force population increased to 81.15 million from 80.67 million in Q3 2016, representing an increase of 0.6 per cent in the labour force during the quarter. Meanwhile, the total number of persons in full time employment decreased by 977,876 or 1.8 per cent when compared to the previous quarter, and decreased by 1.92 million or 3.5 per cent when compared to fourth quarter of 2015. The number of underemployed in the labour force (those working but doing menial jobs not commensurate with their qualifications or those not engaged in fulltime work) increased by 1,109,551 or 7.0 per cent, resulting in an increase in the under-employment rate from 19.7 per cent (15.9 million persons) in third quarter 2016 to 21.0 per cent (17.03 million persons) in fourth quarter of 2016. Similarly, in the fourth quarter of 2016, there were a total of 28.58 million persons in the Nigerian labour force that were either unemployed or under-employed compared to 27.12 million in the third quarter, 26.06 million in second quarter and 24.5 million in first quarter 2016. The report also revealed that the unemployment and under-employment rates were higher for women than men in the fourth quarter of 2016. During the quarter, 16.3 per cent of women in the labour force were unemployed, and a further 24.2 per cent of women in the labour force were under-employed.