The National Bureau of Statistics (NBS) has announced that Nigeria’s unemployment rate stood at 5.4% in 2023, with Abia State recording the highest rate at 18.7%, while Nasarawa had the lowest at just 0.5%. This information was disclosed in the Nigeria Labour Force Survey for 2023 released in Abuja.
In a statement from Mr. Sunday Ichedi, NBS’s Director of Communications and Public Relations, the report offers a detailed analysis of Nigeria’s labour market, highlighting key indicators such as unemployment, underemployment, and youth participation in education and training.
Notably, the report found that individuals with post-secondary education faced the highest unemployment rate at 9.4%, followed by those with secondary education at 6.7%. In contrast, those without formal education had the lowest rate at 3.2%.
The working-age population was reported at 116.6 million, making up 53.8% of the total population, with women comprising 52% and men 48%. The labour force participation rate was 76.3%, equivalent to 88.9 million people, with Bauchi State achieving the highest participation rate at 92.3%.
Out of the working-age population, 84.1 million individuals were employed, including 20.6 million aged 15 to 24. The employment-to-population ratio was 72.2%, with significant disparities between rural (77.3%) and urban (68.7%) areas.
The report also indicated that informal employment was prevalent, with 77.6 million individuals engaged in this sector, accounting for 92.2% of the employed population. Kano State reported the highest number of informal workers at approximately 5.2 million, followed closely by Lagos with 4.6 million.
Moreover, the time-related underemployment rate stood at 11.1%, with men at 8.3% and women at 13.4%. The NEET (Not in Employment, Education, or Training) rate for youth was 15.6%, with Abia again leading with a NEET rate of 38.1%, while Zamfara recorded the lowest at 4.5%.
Credit: NAN (Text Excluding Headline)
