unemployment rate
Minister: Nigerian government worried about rising unemployment rate
Minister of Interior, Ogbeni Rauf Aregbesola, has said the federal government is worried over the rising unemployment rate in the country. Speaking at the 2nd Shakeholders’ Meeting on Expatriate Quota Administration organized by the Citizenship and Business Department of the Ministry of Interior, the Minister said: “Anyone that is not worried about the unemployment rate in the country is not a patriot.” He lamented that the unemployment rate of 33 per cent released by the National Bureau of Statistics was indeed worrisome and a wake up call that something urgently needed to be done to keep Nigerians employed and drastically reduce the unemployment rate. The Minister, who called on all stakeholders at the meeting to ensure quality inputs were brought to the table that will lead to the produ...
Presidency: Atiku Abubakar can’t extricate himself from Nigeria’s rot
The Presidency has attacked former Vice President Atiku Abubakar for his comment on the Bloomberg report that Nigeria may emerge the country with the highest unemployment rate in the world. The position of the Presidency was stated by the Special Adviser to President Muhammadu Buhari on Media and Publicity, Femi Adesina, on a Channels Television programme: Sunday Politics, on Sunday. Adesina said the recent report released by the National Bureau of Statistics that 23.2 million Nigerians are unemployed was not new. He said: “You will recall that in the build-up to the 2015 elections, when the APC (All Progressives Congress) was campaigning, the figure that was used by then candidate Buhari was that a minimum of 30 million Nigerians were unemployed, particularly youths, and that his governme...
NECA decries increase in Nigeria’s unemployment rate
Dr Timothy Olawale, Director-General, Nigeria Employers Consultative Association (NECA) has expressed concern of the association, at the growing unemployment rate, as released by the National Bureau of Statistics (NBS). Olawale told newsmen on Wednesday, in Lagos, that the recently released data by the NBS was worrisome. NAN also reports that a recently released Labour force report, published by the NBS shows that Nigeria’s unemployment rate as of the end of 2020, rose to 33.3 per cent from 27.1 per cent recorded as of Q2 2020. The report indicated that about 23,187,389 (23.2 million) Nigerians remained unemployed. “While the figure shows that the unemployment crisis is worsening at an alarming rate, it is also instructive to note that the socio-economic factors that increased the figure t...
PDP advises federal government against increasing pump price of petrol
The Peoples Democratic Party (PDP) on Friday advised the Federal Government against increasing pump price of petrol. The party in a statement by its National Publicity Secretary, Mr Kola Ologbondiyan, in Abuja said any contemplation to increase pump price of petrol to N212 would worsen the economic and social situations of Nigerians. This was in reaction to a debunk report that the Petroleum Products Pricing Regulation Agency (PPPRA) on Thursday night released a template that a litre of fuel would now be sold for prices ranging from N209 to N212 per litre for March. Ologbondiyan said that the N212 per liter reportedly contemplated in the March pricing template was not in the best interest of Nigerians. “It is a barefaced fact that there is no way that Nigerians can survive such hike in fue...
Ex-VP Namadi Sambo advocates shift in Nigerian educational system
Reuters Former Vice President Namadi Sambo has advocated for a dynamic approach of the Nigerian educational system to produce employees with skills and ability to handle complex jobs and create opportunities for others. Sambo made the call in his goodwill message at the 22nd Matriculation of Igbinedion University, Okada, on Saturday in Edo. The former vice president noted that it was the best time for the country to refocus from one size-fits-all approach that creates employees that are not fit for complex jobs. According to him, Nigerian universities must refocus on building of graduates that will create and end poverty among the people and ultimately close the wide social inequality and promote social coefficient in the communities. “As a nation, we must focus our educational system to o...
Coronavirus vaccine eclipses US elections as economic game-changer
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Governor Zulum: Boko Haram now recruits children in Borno
Governor Babagana Zulum of Borno State says Boko Haram insurgents have started recruiting children in the state due to the increase in unemployment. The governor raised the alarm on Thursday, September 17, 2020, in Maiduguri, Borno state capital when he received a committee of members of the house of representatives.While addressing the rep members, Zulum said over 700,000 IDPs in Monguno, and 400,000 in Gamboru Ngala, have no access to their farmlands. He added that the continued stay of able-bodied people in the IDP could worsen the security crisis in the state. He said, “The only solution we have now is to ensure the safe return of our people to their homes in a dignified manner. If nothing is done, believe me sincerely, we shall face a very serious challenge even more than what we are ...
The Future of Work – Becoming a Digital Workforce
Sourced from HCAMag.com The future of work has always been a popular topic for discussion, especially among HR and payroll practitioners. However, the current COVID-19 pandemic and the resultant lockdown many countries have experienced are fast-tracking discussions towards more practical interventions to prepare the workforce for what will be the new normal. “Even though many aspects of the Fourth Industrial Revolution (4IR) and the digitalisation of workforces have been theoretical, the impact of the global COVID-19 pandemic has forced management to rethink their approaches to employees and how they use technology to not only improve productivity but reinvent traditional processes,” says Ian McAlister, GM at CRS Technologies. More than just technology Consider artificial intelligence (AI)...
Understanding the strength of small businesses
The number of small businesses keeps growing in the formal and informal sectors of the Nigerian economy, due to the role of small businesses as the live-wire of any economy and the backbone of major developed economies the world over. Though Nigeria rely majorly on oil and revenues derived from it, from context observation the economy is largely supported by small businesses covering almost all spheres of activities within the country, ranging from Nano, kiosk, and Micro businesses most importantly. A visible reference usually includes the vulcanizers, corner shop owners, single retail marketers, repairers, painters, business center operators, restaurants, market women, and men in the various open markets, among others. and the formal operations such as the law firms, accounting firms, con...