4.1 per cent Unemployment Rate Report Laughable, Says MAN, Others

Eko Hot Blog reports that the Organised Private Sector (OPS) has stated that it is difficult to accept the recently released unemployment report by the National Bureau of Statistics (NBS), saying the methodology needs to be reviewed to reflect realities.

Against the expectations and calculations of Nigerians on the rise in the unemployment rate, NBS disclosed on Thursday that survey findings reveal that unemployment rate for the first quarter of 2023 dropped from 33 per cent in 2018 to in 2023.

Reacting to the findings of the survey, the Manufacturers Association of Nigeria (MAN), viewed that the result of the survey is surprising, saying it would take years of hard work, planning and implementing good policies for us to get to such figures. The immediate past chairman of MAN, Frank Onyebu, said the new unemployment figure announced by NBS is laughable.

“When I first saw the story, I had to check again to reconfirm that they were referring to Nigeria. I don’t know where or how they carried out this survey, but I think it’s totally ridiculous.

It doesn’t make sense at all. It’s unbelievable, to say the least. You don’t need to be a statistician to know that the figures don’t belong to Nigeria. We see throngs of unemployed people roaming the streets; we see people hanging around factory gates, looking for any available jobs. We see graduates searching for even menial jobs just to get by.”

Director, Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf opined that it is difficult to accept the recently released unemployment report by the NBS.

“The methodology needs to be reviewed to reflect our realities. Employment is not an end in itself, it is a means to an end. The whole essence is to ensure livelihood. Four per cent unemployment rate in this part of the world is as good as full employment. Empirical evidence abound of many young people, especially the educated ones, who practically have nothing to do.

It is true that there are several others who are engaged in different activities to make a living. There are also millions engaged in the informal sector. But one hour engagement would definitely not pass for being an employed person.

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