BREAKING: Nigeria’s Unemployment Rate Increases to 33.3%

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Nigeria‘s unemployment figure has climbed to a staggering 33.3% according to data released by the National Bureau of Statistics (NBS).

The data revealed that Nigeria’s unemployment rate as of the end of 2020 rose to 33.3% from 27.1% recorded as of Q2 2020, indicating that about 21,764,614 (21.7 million) Nigerians remain unemployed. 

Underemployment rate however dropped from 28.6% recorded as at the second quarter 2020 to 22.8% in Q4 2020.

The report shows that the estimated number of persons in the economically active or working-age population (15 – 64 years of age) during the reference period of the survey, Q4, 2020 was 122,049,400.

More details shortly…