Connect with us

Headlines

Nigeria’s unemployment rate stands at 5.4% in 2023- NBS

Published

on

Nigeria’s unemployment rate stands at 5.4% in 2023- NBS

Nigeria’s unemployment rate stands at 5.4% in 2023- NBS

The National Bureau of Statistics (NBS) says the unemployment rate in Nigeria stood at 5.4 per cent in 2023.

At the state level, Abia recorded the highest unemployment rate at 18.7 per cent, while Nasarawa had the lowest rate at 0.5 per cent.

The NBS said this in its Nigeria Labour Force Survey for 2023 released in Abuja on Tuesday.

In a statement issued by Mr Sunday Ichedi, Director of Communications and Public Relations, NBS, the report provided a comprehensive picture of Nigeria’s labour market performance for 2023, offering vital insights into key labour market indicators.

Ichedi said the release of the 2023 annual report marked the first of its kind, conducted in line with the International Labour Organisation (ILO) guidelines between the 4th Quarter of 2022 and the 3rd Quarter of 2023.

He said the findings offered detailed state-level data on critical labour market indicators such as unemployment, underemployment, wage employment, informal employment, and youth participation in education, employment, or training.

Further highlights of the report showed that in terms of educational attainment, the rate of unemployment was highest among persons with post-secondary education at 9.4 per cent in 2023.

“This was followed by those with secondary school education at 6.7 per cent, and those with primary education at 4.1 per cent.

“The lowest rate was recorded among those with no formal education at 3.2 per cent.”

The report said in 2023, the working-age population was 116.6 million, representing 53.8 per cent of the total population, with women accounting for 52 per cent and men with 48 per cent.

It said the annual labour force participation rate was 76.3 per cent, which was equivalent to 88.9 million individuals.

“Bauchi state recorded the highest participation rate at 92.3 per cent, while Ekiti State had the lowest rate at 63.4 per cent.”

The report said 84.1 million individuals were employed out of the total working-age population in 2023, which included 20.6 million persons between the ages of 15 and 24 years.

It said in 2023, the national employment-to-population ratio was 72.2 per cent, with rural areas accounting for 77.3 per cent and urban areas at 68.7 per cent.

“Bauchi state had the highest employment-to-population ratio at 88.4 per cent, while Rivers recorded the lowest at 55.7 per cent.

“By sex, the employment-to-population ratio was 73.7 per cent for males and 70.7 per cent for females.”

The report said 77.6 million individuals were engaged in informal employment in 2023, accounting for 92.2 per cent of the employed population.

It said Kano state had the highest number of informal workers, with about 5.2 million individuals engaged in informal employment.

“This was followed by Lagos state with 4.6 million people (excluding agriculture).”

The report said the national time-related underemployment rate stood at 11.1 per cent, with men accounting for 8.3 per cent and women at 13.4 per cent.

“Plateau had the highest time-related underemployment at 33.9 per cent, while Nasarawa recorded the lowest rate at 0.3 per cent.”

It said time-related underemployment rate was the share of employed people who were working less than 40 hours per week, but who would be willing and available to work more.

The report said the Youth not in employment, education, or training (NEET rate) was 15.6 per cent in 2023, with Abia recording the highest NEET rate at 38.1 per cent and Zamfara recording the lowest at 4.5 per cent.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Headlines

EFCC, DSS Strengthen Collaboration to Tackle Corruption

Published

on

EFCC, DSS Strengthen Collaboration to Tackle Corruption

The Economic and Financial Crimes Commission (EFCC) and the Department of State Services (DSS) have resolved to strengthen collaboration.

Dele Oyewale, the EFCC Spokesperson disclosed this in a statement on Friday in Abuja.

Oyewale said that the collaboration would be, particularly, in the area of Intelligence to tackle the menace of economic and financial crimes and corruption.

According to him, the two agencies made the resolution, when Paul Akugbo, new Director of Base Command Liaison, Lagos paid a courtesy visit to Michael Wetkas, Acting Director of Lagos Directorate of the EFCC.

Meanwhile, Akugbo described the visit as most necessary towards strengthening the already existing collaboration between the DSS and the EFCC.

“It is, indeed, a thing of honour to be among you today.

“As you know, the Base Command is not the Lagos Command; rather, it is the national headquarters annex located in Lagos,” he said.

He commended the EFCC for its unrelenting efforts to stamp out corruption in Nigerian society.

Responding, Wetkas expressed delight in receiving Akugbo and his team, adding that the DSS and the EFCC had always worked together.

“On several occasions, we have written letters to you for certain people on our watch list and you have intercepted them and handed them over to us. We thank you for this.

“The success of our various services is our joint success. Lagos is a challenging place and we are here to support in any way we can,” he said.

He said that the visit was a demonstration that the DSS was ready to work and partner with the EFCC to achieve overall success for Nigeria.

Continue Reading

Headlines

FCT Minister threatens to kick out non-performing contractors

Published

on

FCT Minister threatens to kick out non-performing contractors

The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has threatened to kick out non-performing contractors executing projects in the FCT.

Wike made the threat in Abuja on Friday, after inspecting the ongoing construction of the 15-kilometre left-wing service lane of the Outer Southern Expressway, from Ring Road 1 to Wasa.

The threat followed what the minister described as a “disappointing performance” of CGC Nigeria Ltd executing the project, saying “it is barely 50 per cent as against CGC’s 75 per cent claim.

“As at last year, you promised you would finish the project by December 2024 or at most January 2025, now you have extended it to May.

“With what I am seeing, it may not be possible till eight or nine months from now.

“You should be fair to us. If we have an agreement, let’s keep to that agreement and we are paying. Why should we see what we are seeing now? He asked.

The minister said that the FCT Administration had paid over 80 per cent of the contract sum, “but look at what they have done. This is very bad. I am not encouraged.

“We have paid the contractor more than 80 per cent of this contract and the job, as far as I am concerned, is not up to 50 per cent. I am not going to accept this.”

On what he would do to non-performing contractors, Wike said: “We don’t have any relationship with non-performing contractors. Everybody knows our position that if you don’t perform, we kick you out.

“There is no sentiment about it. Whether you are an indigenous contractor; whether you are a foreign contractor; we don’t care. All we are concerned about is the work.

“If you do the work; we go along with you, if you don’t do the work; we kick you out and we will make you pay for it; there must be sanctions.

“You can’t just collect our money, and we just say go, when you do not complete our project, no.

“Before we kick you out, we will make you pay for it. That is our position.”

He explained that his attention was drawn to the project when he inspected the Apo to Karshi road on Thursday and passed through Wasa on his way back.

He explained that the inspection was to see things for himself.

“There was no equipment here yesterday when I passed through the road.

“I believe it is because I said I was coming here today that you mobilised equipment. These are things I will not accept.

“CGC is one of the most respected construction companies in the country, but as far as this road is concerned, I am not happy,” he groaned.

The minister directed the Director of Engineering Services, Federal Capital Development Authority to sit with the contractor, agree on a work plan, and commit to a completion timeline.

Wike said that the work plan described the road as important considering the huge economic activities taking place in the area.

He directed that the project delivery work plan should be on his table on Monday, pointing out that the road, if completed, would significantly reduce traffic congestion in the area.

Continue Reading

Headlines

Obi celebrates Oyedepo at 70, describes him as exceptional servant of God

Published

on

Obi celebrates Oyedepo at 70, describes him as exceptional servant of God

Mr Peter Obi, Presidential Candidate of the Labour Party in the 2023 General  Elections,  has described the Founder of the Living Faith Church, Bishop David Oyedepo, as an exceptional servant of God.

Obi said this in his congratulatory message to Oyedepo who attained age 70  on Friday.

The message was posted on Obi’s X handle by his media aide, Mr Ibrahim Umar.

The former Anambra State governor said that Oyedepo had remained a remarkable figure in faith, a dedicated servant in God’s vineyard, and a leader who exemplified the true purpose of God’s creation.

“Your life continues to be a source of blessing, reflecting dedication, tireless work and commitment to God’s mission.

“Through your ministry, countless lives have been touched, embodying faith, hope and love.

“Outstanding institutions such as Living Faith Church, Covenant University and Kingdom Heritage Model School stand as lasting testimonies to your pursuit of excellence.

“Today, we honour your enduring legacy, your compassionate outreach and your immense contribution to humanity,” Obi said.

He prayed to God to strengthen, guide and bless the cleric more.

“Thank you for being a beacon of God’s grace. Your remarkable journey will inspire generations to embrace faith, integrity and purposeful living.

“May your continued intervention through prayer in the affairs of our country help us to find direction for a new Nigeria,” Obi said.

Continue Reading

You May Like

Copyright © 2024 Acces News Magazine All Right Reserved.

Verified by MonsterInsights