The National Bureau of Statistics (NBS) has announced a significant drop in Nigeria’s unemployment rate, which fell to 4.3% in the second quarter of 2024, down from 5.3% in the first quarter.

The data was revealed in the Nigeria Labour Force Survey (NLFS) report for Q2 2024, released on Monday.

The report highlighted improvements across several labor market indicators.

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The labor force participation rate among the working-age population rose to 79.5% in Q2 2024, compared to 77.3% in Q1.

Similarly, the employment-to-population ratio climbed to 76.1%, an increase of 2.9 percentage points from the 73.2% recorded in the first quarter.

On a year-on-year basis, however, the employment-to-population ratio saw a slight decline from 77.1% in Q2 2023.

The NBS also noted a reduction in the combined unemployment and time-related underemployment rate, which fell to 13% in Q2 2024 from 15.3% in Q1.

Urban vs. Rural Unemployment

A closer look at the data revealed disparities in urban and rural unemployment rates.

The unemployment rate in urban areas was 5.2% in Q2 2024, nearly double the 2.8% recorded in rural areas.

Youth and Education Employment Metrics

The youth unemployment rate (ages 15-24) stood at 6.5% in Q2 2024, while unemployment among individuals with secondary education was slightly higher at 7.6%.

The report also showed that 12.5% of youth were not in education, employment, or training (NEET), with a higher proportion of females than males in this category.

Informal Sector Employment

Informal employment remained dominant in the Nigerian labor market, accounting for 93% of jobs. Additionally, 3.7% of the working-age population was engaged in subsistence agriculture.

Time-Related Underemployment Declines

The time-related underemployment rate dropped to 9.2% in Q2 2024 from 10.6% in the previous quarter, marking continued progress in addressing labor underutilization.

Nigeria’s former Senate President, Abubakar Saraki has eulogised his political ally, Nigeria’s former Vice President, Atiku Abubakar, who attained 78 years on Monday.

The former governor of Kwara State took to his verified handle on micro-blogging site, X, on Monday to laud the political strides of the Adamawa born political stalwart.

In his view, Atiku is “a compassionate servant of the people whose lifelong dedication to the nation’s progress and unity has earned him the admiration of Nigerians across the globe”.

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Saraki wrote, “His Excellency, Alhaji @Atiku Abubakar, stands as a compassionate servant of the people whose lifelong dedication to the nation’s progress and unity has earned him the admiration of Nigerians across the globe.

“As he marks his 78th birthday today, my family and I join all Nigerians in extending our warmest wishes for a very happy birthday. We pray that Almighty Allah (SWT) continues to bless him with good health, strength, and wisdom to sustain his invaluable service to our nation. Ameen.”

The Federal Government has reaffirmed its commitment to investigating civil servants who continue to receive salaries after relocating abroad, according to the Head of the Civil Service of the Federation (HoS), Mrs. Didi Walson-Jack.

Speaking during an event in Abuja marking her first 100 days in office, Walson-Jack debunked claims that the investigation had been abandoned, emphasizing the government’s resolve to address the issue. The event also served as an opportunity to review her tenure in the civil service.

The investigation, launched five months ago by President Bola Tinubu, aims to ensure that civil servants who have relocated for better opportunities no longer benefit from Nigeria’s payroll system. Supervisors and department heads who facilitate such fraudulent activities are also being held accountable.

Walson-Jack revealed that the Integrated Personnel and Payroll Information System (IPPIS) is being employed to scrutinize workers’ movements.

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“You are asking about civil servants who may have ‘Japa’. We know that the issue was raised, and some verifications were carried out. Since then, some returned quickly, while others retired honourably,” she said.

“Right now, we are continuing the process, scrutinising the IPPIS payroll to identify those who are still in the country and those who are not. This will be an ongoing process to ensure that people cannot receive salaries while living abroad,” she added.

Acknowledging progress, Walson-Jack assured that the government would monitor the situation until it is fully resolved.

Reflecting on her tenure, she expressed gratitude to her team, highlighting the support of the ‘Super Permanent Secretaries’ as instrumental to her success.

“The first 100 days in office is a significant milestone. It provides an opportunity to reflect on the achievements made, assess progress, and set goals for the future,” she noted.

Walson-Jack also addressed job racketeering, pledging to work with the Federal Civil Service Commission to eliminate fraudulent recruitment practices.

“Where someone has obtained a job through fraudulent means, we will work with the commission to ensure that the person is sanctioned,” she stated.

This ongoing investigation underscores the government’s effort to restore integrity within the civil service system and ensure accountability at all levels.