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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.

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.

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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.

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

“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.

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

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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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JUST IN: Police Release Portable After Meeting Bail Condition

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The Lagos state police command has released Musician Habeeb Okikiola, a.k.a Portable after spending a night in the forces cell.

The Lagos state public relations officer, SP Benajmin Hundeyin confirmed the release to Vanguard this evening, stating that he was released this afternoon.

When asked if Portable has sorted out the issues, the spokesman added “I have no idea about it but what I can say is that he has been granted bail”

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READ ALSO: VIDEO: Drama As Portable Jumps Gate To Evade Police Arrest

Recall that the ‘Zazzu’ crooner was nabbed on Tuesday following his alleged refusal to pay the debt he incurred when he purchased Mercedes Benz GLE 350 from Ogunsanwo Temitope (Temmy Autos), a car dealer in the state.

It was gathered that Portable had paid only N13 million after purchasing the vehicle, which was worth N27 million. He was said to have refused to pay the N14 million balance.

 

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JUST IN: Obidient Movement Infiltrated By Saboteurs, Abure Laments

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The National Chairman of the Labour Party, Julius Abure, on Wednesday, expressed concern that the ruling oligarchy and suspected saboteurs have infiltrated the rank of its Obidient Movement to pull down the party.

Abure raised the alarm at a press conference held at the party secretariat in Abuja.

The Obidient Movement, birthed in the build-up of the 2023 general election, comprises young Nigerians who see the hope of a new Nigeria in the candidacy of LP Presidential Candidate, Peter Obi.

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The impact of the group was felt when it powered the Labour Party to a stunning performance at the February 25 presidential and national legislative elections.

To date, LP has one elected governor, 35 members of the House of Representatives and seven senators to its credit.

READ ALSO: Abure Bows To Pressure, Begs NLC President For Reconciliation

But Abure told journalists that the recent attitude of some Obidient members has given a notion that the movement may have been penetrated by the ruling oligarchy to erode all the gains they made in the past year.

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He said, “I also want to appeal to the Obidient movement to remain in the party and be patient to learn the rudiments of politics. It is also my appeal that they should endeavour to find time to read the Constitution of the party, the Electoral Act and the 1999 Constitution. This will enable them to make a well-informed opinion about the activities of the party.

“I must say that a lot of people, particularly, the ruling oligarchy have no doubt, infiltrated the Obidient Movement and they are currently striving to carry some innocent Obidient along in derailing and unnecessarily criticising the party to bring it to disrepute and pull it down.

READ ALSO: UPDATED: Rivers Political Fight Gets Messier As Three pro-Wike Commissioners Quit Fubara’s Cabinet

“This is not to say, however, that some of the complaints from the Obidients are not germane. But part of these complaints is that those who want to belong to the party have not been fully absorbed.”

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To resolve the plethora of complaints bombarding the party frequently, the LP national chairman announced that a directorate has been created to attend to the affairs of the Obidient movement.

Abure said he was excited about the prospect knowing that considerable members of the group are chairmen and executives at the wards, local governments, states and national levels.

READ ALSO: NLC Sacks Abure’s NWC, To Audit LP Accounts

“To attend swiftly to most complaints of Obidients, we have decided to create a whole directorate dedicated to the family. That directorate will coordinate the registration of members and integrate them fully into the structure of the party.

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“The directorate will also ease Diaspora participation, bring complaints to the attention of the party leadership, coordinate the collection of dues and donations to the party and ensure all Obidients are financial members.

“They will work closely with the National Youth Leader, National Women Leader, and National Organizing Secretary to create programs that will fully and effectively assimilate all members of the Obidient family to the party.

“As the national leader of the party, Mr Peter Obi, said, the national convention has come and gone. It is therefore imperative for us to put our differences aside and collectively work in the interest of the party and Nigerians who are currently suffering amid plenty. The Nigerian people have a common enemy which I refer to as the ruling oligarchy in Nigeria. They have held the country captive and ensured that our common patrimony is stolen.”

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Abure Bows To Pressure, Begs NLC President For Reconciliation

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Labour Party National Chairman, Julius Abure, on Wednesday, appealed to the President of the Nigeria Labour Congress, Joe Ajaero, to set aside his differences and work together with the party leadership for old-time’s sake.

Abure made the plea at his first press conference following the April 3 fire incident that almost claimed his life at his Abuja residence.

Both Abure and Ajaero had been at loggerheads following several attempts made by the congress to take control of the party structure over claims the embattled LP chairman was running a one-man show amid allegations of financial malfeasance.

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READ ALSO: NLC Sacks Abure’s NWC, To Audit LP Accounts

The LP camp had also made a counterclaim that Ajaero was desperately seeking to evict the Abure-led National Working Committee with an ulterior motive to use the party as a transactional platform ahead of the 2027 election.

Addressing newsmen at the party secretariat in Abuja, Abure described the NLC president as a friend and brother having worked together in the trenches over the years fighting for the welfare of workers.

The LP national chairman therefore urged the union leader to put aside his grievances and support their effort to rebuild the country in the interest of Nigerians.

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READ ALSO: PHOTOS: ‘Abure’s Life Under Threat’, LP Raises Alarm After ‘Mysterious’ Fire Razes His Abuja Residence

He said, “Consequently, I want to appeal first to my brother, friend and Joe Ajaero, President of the NLC whom we have worked together in the trenches over the years in the struggle for workers, to put aside whatever may be his grievances. Let’s work in the interest of our people.

“Fighting the Labour Party is uncalled for and unwarranted, especially at this time when the working people of Nigeria are suffering. As we speak today, the minimum wage is still N30,000. There are unfair workers practices by employers across the country. The inflation in Nigeria is unprecedented and nobody talks about workers welfare.

“For us, we need to team up together to be able to fight for better working conditions for our people. We need not waste or dissipate our collective energies in fighting ourselves over nothing. The NLC should know by now that the attempt being made to take over the leadership of the party will not work. It is my appeal that working together is better.”

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