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Nigeria’s statistics agency on Thursday reported the country’s unemployment rate as 4.1%, the lowest in many years, but one analysts said was an undercount because of the agency's new methodology.
Data on youth employment in Nigeria are scarce due to under resourced agencies responsible for their collection. 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 ...
According to a 2018 report by the World Bank, almost half the population is living below the international poverty line ($2 per day), and unemployment peaked at 23.1%. [9] 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]
In 2015, Nigeria had a labour force of 74 million. In 2003, the unemployment rate was 10.8% overall; by 2015, unemployment stood at 6.4%. [145] Since 1999, the Nigerian Labor Congress (NLC) a union umbrella organization, has called six general strikes to protest domestic fuel price increases.
The Ministry is responsible for several parastatals (government-owned agencies): Michael Imoudu National Institute For Labour Studies (MINILS), Nigerian Social Insurance Trust Fund (NSITF), National Directorate of Employment (NDE), National Productivity Center (NPC), National Industrial Court and Industrial Arbitration Panel (IAP).
The estimates can therefore differ from other estimates, like the national poverty rate. Nigeria is the country with the most people living in extreme poverty worldwide since 2019, overtaking much more populous India. [1] The poverty rate in Nigeria remains one of the world's highest and is especially high in the north of the country.
Nairametrics is a Nigerian online newspaper that focuses on business and economic current affairs. It was established in 2013 by Obi-Chukwu Ugodre as a product of Nairametrics Financial Advocates Limited.
In 2019, of Nigeria's annual budget of N8.8trn only 3.6% was allocated to healthcare. [7] In a 2017 survey carried out by Nigeria's polling agency, NOI Polls, in conjunction with Nigerian Health Watch it was found that most doctors seek opportunities abroad as 88 percent of doctors were considering work opportunities abroad. [6]