The Fedral government is struggling to deal with a worsening unemployment crisis as companies collapse or are forced to make redundancies.
The National Bureau of Statistics, NBS, on Friday said that four out of every ten people in the country’s workforce were unemployed or underemployed by the end of September.
“A return to economic growth provides an impetus to employment,” Nigeria’s National Bureau of Statistics (NBS) said in a report released on Friday.
“However, employment growth may lag, and unemployment rates worsen especially at the end of a recession and for many months after,” the stats office said, adding that it expects unemployment to peak in the fourth quarter of 2017.
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, it said.