Thursday, April 3, 2025
Home Business NIGERIA’S UNEMPLOYMENT RATE: NIGERIA’S UNEMPLOYMENT RATE RISES TO 5.3% IN Q1 2024.

NIGERIA’S UNEMPLOYMENT RATE: NIGERIA’S UNEMPLOYMENT RATE RISES TO 5.3% IN Q1 2024.

 Nigeria’s unemployment rate in the first quarter of 2024 rose to 5.3%- a 0.3%-points increase from 5.0% in the third quarter of 2023.
This is according to the National Bureau of Statistics (NBS) survey for the first quarter of 2024.
According to the report, the unemployment rate for males stood at 4.3%, while females experienced a higher rate of 6.2%. In terms of location, urban areas recorded a 6.0% unemployment rate, compared to 4.3% in rural areas. Youth unemployment during the quarter dropped slightly to 8.4%, down from 8.6% in Q3 2023.
 When considering educational attainment, individuals with post-graduate education had an unemployment rate of 2.0%, while those with post-secondary education faced 9.0%. For individuals with secondary education, the rate was 6.9%, and for those with primary education, it stood at 4.0%.
 In the Q1 2024, Nigeria’s labour force participation rate stood at 77.3%. When analysed according to location, the rate was higher in rural areas at 82.5%, compared to 74.0% in urban areas. Among genders, male participation was 77.5%, while female participation was slightly lower at 77.1%.
In terms of employment-to-population ratio 73.2% of Nigeria’s working-age population was employed, a decline from 75.6% in Q3 2023.
By gender, the employment-to-population ratio was 74.2% for males and 72.3% for females. Regionally, the urban employment rate was 69.5%, while rural areas had a higher rate at 78.9%, both lower than the 71.1% and 80.7% recorded in Q3 2023, respectively.
 The proportion of individuals in self-employment decreased from 86% in Q1 2023 to 84% in Q1 2024. Survey results show a rise in the share of employed persons working as employees, increasing from 12.7% in Q3 2023 to 16.0% in Q1 2024.
Among females, the self-employment rate was 87.9%, while for males it was 79.9%. In rural areas, the self-employment rate was 91.9%, compared to 78.2% in urban areas.
The proportion of individuals in self-employment decreased from 86% in Q1 2023 to 84% in Q1 2024. Survey results show a rise in the share of employed persons working as employees, increasing from 12.7% in Q3 2023 to 16.0% in Q1 2024.
RELATED ARTICLES

UPDATE ON PAYMENT OF UNINSURED SUMS TO DEPOSITORS OF HERITAGE BANK (IN-LIQUIDATION)

In response to concerns raised by depositors of the defunct Heritage Bank whose balances exceed the maximum deposit insurance limit of N5 million, the...

SAVE THE CONSUMERS CONDEMNS MULTICHOICE’S DISCRIMINATORY PRICING BETWEEN NIGERIAN AND SOUTH AFRICAN SUBSCRIBERS.

The executive Director save the consumer Dr. Aliyu Ilias, a non-governmental organisation committed to defending consumer rights, strongly condemns the recent 21% price increase...

HERSHOWCASE 2025: EMPOWERING WOMEN ENTREPRENEURS TO TRADE BEYOND BORDERS.

The Nigerian Export Promotion Council (NEPC) in collaboration with the International Trade Centre (ITC), is set to host HerShowcase 2025 in Abuja, Nigeria, under...

Most Popular

FG CALLS ON IOCs IN NIGERIA TO RAMP UP INVESTMENT .

The Federal Government has called on International Oil Companies (IOCs) operating in Nigeria to ramp up investments in the country’s oil and gas sector,...

UPDATE ON PAYMENT OF UNINSURED SUMS TO DEPOSITORS OF HERITAGE BANK (IN-LIQUIDATION)

In response to concerns raised by depositors of the defunct Heritage Bank whose balances exceed the maximum deposit insurance limit of N5 million, the...

NNPC LTD READY FOR INITIAL PUBLIC OFFER .

The Nigerian National Petroleum Company Limited says,  is at the final stage of getting listed in the capital market, in keeping with the provisions...

SAVE THE CONSUMERS CONDEMNS MULTICHOICE’S DISCRIMINATORY PRICING BETWEEN NIGERIAN AND SOUTH AFRICAN SUBSCRIBERS.

The executive Director save the consumer Dr. Aliyu Ilias, a non-governmental organisation committed to defending consumer rights, strongly condemns the recent 21% price increase...

Recent Comments