21.7 million Nigerians now unemployed – NBS

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Statistician-General of the National Bureau of Statistics of Nigeria, Dr Yemi Kale says Nigeria's economy grew unemployed
Statistician-General of the National Bureau of Statistics of Nigeria, Dr Yemi Kale

The National Bureau of Statistics (NBS) says 21.7 million Nigerians are unemployed, this is more than a quarter of Nigeria’s workers.

The NBS, in Nigeria’s first unemployment data published since 2018 said the unemployment rate stood at 27.1% in the second quarter.

It stood at 23.1% in the previous report, which dates back to the third quarter of 2018.

Second-quarter unemployment among young people aged 15-34 was the highest at 34.9%.

Nigeria has been hard-hit by the fallout from the new coronavirus pandemic, grappling not only with its own outbreak, but also from a plunge in oil prices after lockdowns worldwide.

The country had 48,116 confirmed cases and 966 deaths as of Friday.

Nigeria entered the pandemic without having fully recovered from a 2016 recession that left more than 13 million people unemployed.

The World Bank has warned Nigeria faces a recession that will be “much more pronounced” than in 2016 and potentially the nation’s worst financial crisis in four decades.