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Nigeria’s Unemployment Rate Rises By 0.8 Per Cent In Q3 2023 – NBS

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Nigeria’s unemployment significantly rose in the third quarter of 2023 by 0.8% from the second quarter 2023, the National Bureau of Statistics (NBS) has said.

The NBS, in its ‘Nigeria Labour Force Survey Q3 2023’ report published on Monday, disclosed that the country’s unemployment rate increased sharply from the 4.2% recorded in Q2 2023 to 5.0% in Q3 2023.

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According to the Bureau, the labour force participation rate among the working-age population fell to 79.5% in Q3 2023 compared to 80.4% in Q2 2023.

In its breakdown of the statistics, the NBS said, “The employment-to-population ratio was 75.6% in Q3 2023 with a decrease of 1.5% compared to a ratio of Q2 2023.

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“The combined rate of unemployment and time-related underemployment as a share of the labour force population (LU2) increased to 17.3% in Q3 2023 from 15.5% in Q2 2023.

“About 87.3% of workers were self-employed in Q3 2023.

“The proportion of workers in Wage Employment in Q3 2023 was 12.7%.

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“The unemployment rate increased significantly in Q3 2023 at 5.0%. This is an increase of 0.8% from Q2 2023.

“The rate of unemployment among persons with post-secondary education was 7.8% in Q3 2023.”

READ ALSO: Support Individuals Facing Economic Hardship, CAN Urges FG

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According to the nation’s main statistical agency, the unemployment rate among youth aged (15-24 years) was 8.6% in Q3 2023, and got an increase of 1.4% compared to Q2 2023.

“The unemployment rate in urban areas was 6.0% in Q3 2023, a slight increase of 0.1% from Q2 2023.

“Time-related underemployment in Q3 2023 was 12.3%, showing a slight increase of 0.5% from the rate recorded in Q2 2023. This shows an increase of 1.4% compared to the rate in Q4 2022.

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“4.1% of the working-age population was in subsistence agriculture in Q3 2023.

Informal employment rate in Q3 2023 was 92.3%, while Q2 2023 was 92.7%.

“Percentage of youth Not in Employment, Education or Training (NEET Rate) was 13.7% in Q3 2023,” the report added

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Lagos Suspends BRT Lane Enforcement On Eko Bridge, Odo Iya-Alaro

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The Lagos State Government has temporarily suspended enforcement of the Bus Rapid Transit lane along the Eko Bridge and Odo Iya-Alaro corridor to ease growing traffic congestion.

This gridlock is a result of the ongoing structural rehabilitation on the Ogudu-Ifako Bridge expansion joint.

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Special Adviser to the Lagos Governor on Transportation, Sola Giwa announced the suspension on Wednesday, describing it as a strategic move to tackle gridlock in affected parts of the city.

This remedial measure, conceived as a palliative response to mitigate commuter hardship, aligns with the Lagos State Government’s forward-thinking and adaptive transportation strategy under the THEMES Plus Agenda of Governor Babajide Sanwo-Olu, particularly within the framework of sustainable traffic management and infrastructure modernisation,” Giwa said.

READ ALSO:Lagos Monarch Dethrones Six Chiefs For ‘Impersonating’ Him At Labour Party Campaign

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He explained that the temporary suspension is a transitional and conditional measure aimed at absorbing the anticipated vehicular overflow caused by the partial closure of the Ifako-bound carriageway of the Third Mainland corridor.

We are fully cognizant of the immense strain currently imposed on key ingress routes into the Lagos Mainland. Consequently, this tactical suspension of BRT lane enforcement is a calculated response designed to deliver immediate relief, reduce commuting time, and preserve the fluidity of vehicular movement throughout the duration of the bridge repairs,” he added.

According to him, the directive takes immediate effect and allows general vehicular access to previously restricted BRT corridors on Eko Bridge and Odo Iya-Alaro, particularly during peak travel periods.

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He said this move is expected to expand available road capacity and ease traffic along critical routes.

READ ALSO:Lagos Opens Teacher Recruitment Portal For Two Weeks

Giwa, however, stressed that commercial buses and articulated vehicles must remain in compliance with existing safety rules and loading guidelines to avoid worsening traffic conditions or compromising public safety.

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He also disclosed that the Lagos State Traffic Management Authority has been mobilised to strengthen its presence along the affected corridors.

Enhanced personnel deployment and traffic equipment are now in place to ensure orderly conduct, prevent exploitation of the temporary suspension, and respond promptly to any emergent traffic disturbances,” Giwa stated.

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Lagos Opens Teacher Recruitment Portal For Two Weeks

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The Lagos State Government has announced the reactivation of its teaching job recruitment portal to allow qualified individuals to apply for entry-level teaching positions.

In a notice issued by the Lagos State Teaching Service Commission on Tuesday, the portal will be open for applications from Tuesday, July 1 to Monday, July 14, 2025.

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The Lagos State Teaching Service Commission is set to reactivate its Recruitment Portal as a bold step towards improving access to employment opportunities, equity, and fairness.

READ ALSO:FG Gives Overstaying Foreigners Ultimatum To Regularise Visa

The job portal, which will be accessible for two weeks (Tuesday, July 1st 2025, to Monday, July 14th, 2025), is intended to provide a centralised platform where individuals can apply for State Teaching jobs at the entry level (GL 08) in their relevant fields,” the notice read.

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The move, according to the Commission, is aimed at improving access to employment opportunities in the education sector while ensuring equity and fairness.

TESCOM urged interested applicants with a degree in Education or other relevant qualifications to visit the official portal https://tescomjobs.lagosstate.gov.ng and apply for teaching roles at Grade Level 08.

The notice was signed by the Chairman of the Lagos State Teaching Service Commission.

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FG Unveils N50m Grant To Boost Student Innovation, Entrepreneurship

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The Minister of Education, Dr. Tunji Alausa, has announced a N50m Student Grant Venture Capital Initiative to support scaling student-led enterprises in Nigeria’s tertiary institutions.

Alausa said the initiative aims to bridge the gap between academia and industry by turning homegrown research into commercially viable products and services.

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The minister made the announcement on Wednesday in Abuja when he inaugurated the Research and Innovation Commercialisation Committee.

READ ALSO:NSCDC, Immigration, Others: FG Postpones Recruitment, Changes Portal

He said the scheme, which will be anchored by TETFund in partnership with the Bank of India, targets undergraduate students in 300-level and above with viable business models and innovations ready for market expansion.

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According to the minister, the development is aligned with President Bola Tinubu’s agenda of transitioning Nigeria from a resource-based economy to a knowledge-driven one.

We have hundreds of thousands of young geniuses across our institutions. This fund is designed to unlock their potential and help them build globally competitive enterprises,” the minister said.

READ ALSO:FG Gives Overstaying Foreigners Ultimatum To Regularise Visa

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On her part, the Minister of State for Education, Prof. Suwaiba Ahmad, described the inauguration as a landmark moment in Nigeria’s education and innovation history.

For too long, research in our tertiary institutions has been reduced to tools for promotion rather than solutions for development. This must change,” she said.

In his response, the Committee Chairman, Dr. Tayo Aduloju, described the RICC as “a matter of national urgency”, noting that Nigeria’s research investment as a percentage of GDP is among the lowest when compared to peer nations.

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