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

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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.

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China Introduces Instant Tax Refunds for Foreign Tourists to Boost Shopping Experience

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China Introduces Instant Tax Refunds for Foreign Tourists to Boost Shopping Experience

China has revamped its tax refund policy for foreign tourists, shifting from a refund-upon-departure model to a more convenient refund-upon-purchase system, according to the State Taxation Administration (STA).

The STA announced on Tuesday that under the new system, foreign visitors can now claim Value Added Tax (VAT) rebates instantly at designated tax-free stores. This change allows tourists to use their refunded amount immediately for additional shopping, enhancing their overall experience in China.

Previously, VAT rebates could only be withdrawn upon departure, but with the new policy, tourists will be able to access their refunds in real-time during their stay. The policy, which was initially tested in cities like Shanghai, Beijing, and Guangdong, has now passed all operational requirements and will be rolled out nationwide.

The STA emphasized its dedication to improving policy guidance and simplifying refund procedures to better serve international visitors.

Li Xuhong, Vice-President and Professor at the Beijing National Accounting Institute, welcomed the change, stating that the nationwide implementation would raise China’s tourism service standards. “It will foster a friendly, efficient, and convenient tourism environment,” Xuhong added.

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Nigeria Reaffirms Commitment to One-China Policy Amid Taiwan’s Trade Office Claims

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Nigeria Reaffirms Commitment to One-China Policy Amid Taiwan's Trade Office Claims

Rep. Jaafaru Yakubu, Chairman of the House of Representatives Committee on China-Nigeria Parliamentary Relations, has reiterated Nigeria’s firm commitment to the One-China Policy, following recent comments by Taiwan’s Trade Mission Head in Nigeria, Andy Yih-Ping Liu.

Speaking in Abuja on Tuesday, Yakubu firmly declared that Nigeria continues to recognize Taiwan as an integral part of the People’s Republic of China. He rejected Liu’s claim that Taiwan was not part of China, labelling it as “propaganda” aimed at undermining the strong diplomatic ties between Nigeria and China.

“For the record, United Nations General Assembly Resolution 2758, adopted in 1971, recognised the People’s Republic of China as the sole legitimate representative of all of China, including Taiwan,” Yakubu stated. “The One-China Policy remains the cornerstone of China-Nigeria relations.”

He emphasized that since Nigeria and China established diplomatic ties in 1971, the country has consistently upheld this principle. “Efforts by Taiwan’s trade office to challenge this stance are futile and will not succeed,” Yakubu added.

Yakubu criticized Liu’s comments as an attempt to draw Nigeria into China’s internal matters, accusing the Taiwanese official of deliberately sowing discord and provoking a diplomatic rift. “Nigeria’s relationship with China is built on mutual respect and non-interference in each other’s political matters,” he said.

In response to Liu’s claim that China acted as a bully, Yakubu pointed to the positive trajectory of Nigeria-China relations. “Contrary to these baseless assertions, Nigeria has enjoyed a mutually beneficial partnership with China, yielding tangible results for both nations. Since 1971, our ties have grown significantly.”

He highlighted the strategic nature of the partnership, referencing the elevation of the relationship to a Comprehensive Strategic Partnership during the 2024 FOCAC Summit in Beijing. “Today, Nigeria stands as China’s second-largest trading partner in Africa, with bilateral trade surpassing 20 billion dollars,” Yakubu noted.

Furthermore, Yakubu praised China’s role in Nigeria’s infrastructural development, with investments in sectors such as rail networks, roads, ports, power stations, and water treatment facilities.

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Shettima Warns Media Against Romanticising National Challenges

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Shettima Warns Media Against Romanticising National Challenges

Vice President Kashim Shettima has cautioned Nigerian media practitioners against the growing tendency to romanticise serious national issues, describing the trend as a dangerous departure from the media’s constitutional duty of promoting truth and accountability.

Represented by his Special Adviser on Special Duties, Modibbo Umar, the Vice President issued the warning on Tuesday while delivering a speech at the 17th LEADERSHIP Conference and Awards held at the Old Banquet Hall of the State House, Abuja.

“We must resist the temptation to romanticise serious national issues or frame them in ways that distort public understanding,” Shettima said. “Doing so only weakens the fabric of our democracy and derails our collective efforts at nation-building.”

The Vice President’s remarks came as stakeholders in governance, business, and civil society gathered to reflect on the theme of the event, “Challenges and Opportunities in Nigeria’s Fiscal Federalism.” The conference provided a platform for thoughtful engagement on some of the country’s most pressing issues, with a focus on the responsibilities of leadership at all levels.

Shettima also used the occasion to commend LEADERSHIP Newspapers Group for its consistent contributions to national discourse and its commitment to celebrating excellence in leadership.

“I commend LEADERSHIP Newspaper for the vision to convene this vital discourse and for shining the light on those who have chosen to lead with courage and competence. May we never tire of striving for a better Nigeria,” he said.

The annual LEADERSHIP Conference and Awards continues to be a major event that brings together influential voices to deliberate on national progress and honour individuals and institutions making meaningful impact in society.

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