Nigeria: The issue that has triggered the latest bout of ranting and frustration is the report from the government statistics office showing that four out of every ten people in the country’s workforce are unemployed or underemployed.
While Nigeria recently rebased its gross domestic product, becoming Africa’s biggest economy in the process, economic growth in the country is sluggish as it slowly climbs out of its first recession in a quarter of a century.
“A return to economic growth provides an impetus to employment,” Nigeria’s National Bureau of Statistics (NBS) said in a report released on Friday.
The administration of President Muhammadu Buhari, who campaigned on vows to fix Nigeria’s economy, has struggled to follow through with plans to reduce the country’s dependence on oil.
By the end of September, Nigeria’s economically active or working population was 111.1 million people, said the NBS.
Unemployment has increased to 18.8 percent of that population from 16.2 percent at the end of June.
The combined proportion of people unemployed or underemployed was 40 percent at the end of September, up from 37.2 percent by the end of June, said the NBS report.
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