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Economy of Nigeria. All values, unless otherwise stated, are in US dollars. Change in per capita GDP of Nigeria, 1950–2018. Figures are inflation-adjusted to 2011 International Geary-Khamis dollars. The economy of Nigeria is a middle-income, mixed economy and emerging market [27][28] with expanding manufacturing, financial, service ...
It is estimated that roughly 15 million Nigerians live abroad to seek an education, jobs, and a better quality of life than in Nigeria. [9] Harsh economic conditions that have increased unemployment and underemployment, a large population, political instability, insecurity and porous borders are factors that heighten this problem in Nigeria.
Misery index (economics) The misery index is an economic indicator, created by economist Arthur Okun. The index helps determine how the average citizen is doing economically and is calculated by adding the seasonally adjusted unemployment rate to the annual inflation rate. It is assumed that both a higher rate of unemployment and a worsening of ...
August 11, 2024 at 6:07 PM. ZURICH (Reuters) - Youth unemployment worldwide last year dipped to a 15-year-low and is likely to continue falling through 2025, although weaker growth means Asia has ...
September 3, 2024 at 7:00 AM. Global supply chains, now a couple years recovered from pandemic-era snarls, have been chugging along at a much healthier clip. But by no means has it been smooth ...
In 2012, 11.1million [30] youths in Nigeria were believed to be unemployed. [31] In a recent report by Bloomberg, it was revealed that as at March 2021, Nigeria Unemployment rate has increased to 33.3% making it the second highest on the global list of unemployed countries monitored by Bloomberg.
This is a list of countries by unemployment rate.Methods of calculation and presentation of unemployment rate vary from country to country. Some countries count insured unemployed only, some count those in receipt of welfare benefit only, some count the disabled and other permanently unemployable people, some countries count those who choose (and are financially able) not to work, supported by ...
Poverty in Nigeria. Nigeria had one of the world's highest economic growth rates, averaging 7.4% according to the Nigeria economic report that was released in July 2019 by the World Bank. [1] Following the oil price collapse in 2014–2016, combined with negative production shocks, the gross domestic product (GDP) growth rate dropped to 2.7% in ...