Nigeria’s Unemployment Rate Increases to 33.3%

An unemployed man talks on the phone with a state unemployment worker at the state unemployment and career office in San Francisco, Friday, Dec. 7, 2007. Employers hired at a moderate pace in November and the unemployment rate held steady at a relatively low 4.7 percent, reassuring signs for an economy that is fighting to avoid a recession. (AP Photo/Paul Sakuma)

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.

Trade Club

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.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.