At least 1,972,722 Nigerians have become unemployed since President Muhammadu Buhari took office on May 29, 2015, the Nigerian Bureau of Statistics (NBS) has revealed.

This raises Nigeria’s unemployment profile to 8.03 million – four percent of the world’s unemployed.

The report, which was released on Monday, revealed that Nigeria’s working population grew from 104.3 million in Q3 2015 to 105.02 million in Q4 2015, with 28.1 million economically active persons unwilling to work.

On the other hand, “the labour force population (i.e those within the working age population willing, able and actively looking for work) increased to 76.96 million from 75.94million in Q3 2015”.

“During the same period, the number of unemployed in the labour force, increased by 518,102 persons, resulting in an increase in the national unemployment rate to 10.4% in Q4 2015 from 9.9% in Q3 2015 and from 8.2% in Q2 2015”.

With 1,454,620 becoming unemployed from July 1 to September 30, 2015, and 518,102 from October to December 2015, at least 1,972,722 became unemployed in Buhari’s first six months.

“In view of this, there were a total of 22.45 million persons in the Nigerian labour force in Q4 2015, that were either unemployed or underemployed compared to 20.7 million in Q3 2015 and 19.6 million in Q2 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 and merely working for few hours) increased by 1.21 million or 9.16%, resulting in an increase in the underemployment rate to 18.7% (14.42million persons) in Q4 2015, from 17.4% (13.2mn) in Q3 2015 and 18.3% (13.5mn) in Q2 2015.

Despite the unemployment recorded in the economy, Nigeria ranks 45 on the world unemployment ladder.

“The highest unemployment rate in the world as of latest reported in q4 2015 is recorded in Djibouti (54%), Congo(46%), Bosnia and Herzegovinian (42.9%), Haiti (40.6%), Afghanistan (40%), Kenya (40%), Kosovo(35%), while the lowest are found in Qatar (0.2%), Cambodia (0.3%), Belarus(0.5%), Thailand (0.8%), Benin (1.0%), Madagascar (1.2%), Laos (1.40%) and Guinea Bissau(1.80%).

“Nigeria with an unemployment rate of 10.4% in Q4 2015 has a better unemployment rate than reported in 66 countries, but worse than 111 countries, including 23 African countries which have unemployment rates lower than 10.4%.

“If we add underemployment to unemployment and get a rate of 29.2% for Q4 2015, then Nigeria has the 7th highest unemployment rate in the world (Important to note other countries don’t add underemployment) with only Kenya Congo and Djibouti with worse rates in Africa.”

Vice-President Yemi Osinbajo has promised Nigerians that three million jobs would be created within three years, starting in 2016.

mideactive:
We shall overcome,it's tym we go completely local.we'v got2 stop depending on d $ 4 survival.we must never again find ourselves in dis kind of situation,we must adapt 2 succeed.we'v got 2 encourage local industries,science n Research institutes must rise up 2 d challenges.dis is our opportunity 2 change our destiny 4 gud.d govt.must be honest n d ppl must Persevere.

theshadyexpress:
flets kenai drss luvinhubby
Cc:mizmycoli, TippyTop
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, APCHaram

theshadyexpress:


its cool for you to support a party but that should not for any reason becloud your ability to think rationally, this curre t admin has not provided any policy that has favoured any of the sectors of the economy,even industries that are fully reliant on locally produced materials are also feeling the brunt of the clulessness of this admin. its ok for any admin to champion a campaign for the patronage of local products both for consumption and production but it is completely daft to champion it in a pre-mature way. how can you just unilaterally ban the importation of goods and tell nigerians to start patronising local producers when no local producer exists? please once again it is good to support a course but that should not erase your ability to be rational. 1984 policies cannot work in a 2016 economy, you of all people should know that

mideactive:
B4 I respond,which one are u;corruption fight back,Ipob or a patriot?

mrphysics:
How many were unemployed during gej administration for 6 years? only you? okay

SleekMallam:
Buhari the trainee small Peniis misogynist president. Those figures are on arithmetic progression. before 2019,over half the population would be out of gainful employment.

TheBiafran:
just wait, by next year, more will lose their jobs
and they world will know why the zoo must fall
you guys voted for change, enjoy it
meanwhile, which country will bubu be ttraveling to next?

PassingShot:

The thing dey really pain you a swear.

Given the same scenario as the last election period, I will vote Buhari over and over again and not the Ineffectual Buffoon.




Children of hate and anger, do you really believe this report? I ask because many times you've rejected and rubbished reports from NBS that favour this current administration.

TippyTop:


Only job available now is cow herding.

PassingShot:

The thing dey really pain you a swear.

Given the same scenario as the last election period, I will vote Buhari over and over again and not the Ineffectual Buffoon.




Children of hate and anger, do you really believe this report? I ask because many times you've rejected and rubbished reports from NBS that favour this current administration.

SleekMallam:

Abeg, when are they recruiting? cos our nairaland progressives needs to forward cvs on time since they couldn't make the cbn list. We must all collectively lobby for them to land this job.

theshadyexpress:


nevermind,its obvious you lack the capacity to indulge in intellectual discourse and this alone proves that all your rants are emotional and partisan


have a nice day