In its “Nigeria Labour Force Survey” released on Thursday via its website, the National Bureau of Statistics (NBS) disclosed that during the first quarter of 2023, a considerable 92.6 percent of the employed population in Nigeria engaged in informal employment, encompassing agriculture. Additionally, 89.4 percent were involved in informal employment excluding agriculture.
According to the report, Nigeria’s unemployment rate showed a significant reduction, standing at 5.3 percent in Q4 2022 and further dropping to 4.1 percent in Q1 2023.
This notable decrease in the unemployment rate is attributed to a revision in the measurement methodology employed by the NBS to gauge unemployment in the nation.
Details later…..
