A Third of Nigerians Are Unemployed - Here's Why

In 2020, in the wake of the Covid-19 pandemic, the country plunged into another recession - its worst in four decades. Measures like lockdowns, social distancing, working from home, and travel restriction's significantly affected the economy. The aviation sector and related services were one of the worst-hit. The entertainment sector - movies, sports, shows - was caught in the stay-home mandate. Small and medium scale industries were also badly hit, particularly micro-businesses - those who earn on a day-to-day basis. Even before the pandemic, the Nigerian environment, afflicted with insecurity, high cost of doing business, multiple taxations, and epileptic power supply, has been largely unattractive to investment, according to Ndubisi Nwokoma, a Professor of Economics at the University of Lagos.

The National Bureau of Statistics has recently reported that the number of unemployed people has increased to the highest in at least 13 years and is the second-highest rate in the world. 


(file photo).

Don't Miss

AllAfrica publishes around 900 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.