A report by Bloomberg has revealed that unemployment in Nigeria, Africa’s largest economy has surged to the second-highest on the global list.
According to the Labour Statistics Report released by the National Bureau of Statistics (NBS) Nigeria’s unemployment rate increased to 33.3℅ in the fourth quarter of 2020.
The report says:
“The 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. This is 4.3% higher than the figure recorded In Q2, 2020, which was 116.871, 186.”
The National Bureau of Statistics added that in the case of unemployment by state, Imo state reported the highest rate of unemployment with 56.64%, followed by Adamawa and Cross River States with 54.89% and 53.65% respectively.
The States with the lowest rates were Osun, Benue, and the Zamfara States with 11.65%, 11.98%, and 12.99% respectively.
Nigeria has now surpassed South Africa on a list tracked from 82 countries with Namibia still leading the list with 33.4%.
