Friday, August 21, 2020 / 10:18
AM / by FBNQuest Research / Header Image Credit: Daily Trust
we continue our commentary around the recently released NBS labour force
report. Nigeria has a large population, estimated as high as 198 million and
largely untapped human capital. The report also covers unemployment by state.
It shows that in Q2 2020, Imo State recorded the highest rate of unemployment -
48.7%. This was followed by Akwa Ibom with 45.2% and Rivers State with 43.7.
The states with the lowest rates were Anambra, Kwara and Sokoto at 13.1%, 13.8%
and 13.9% respectively.
labour force size for each state is a core element of the labour force
statistics. Lagos' population, the highest, is estimated at 6.8 million. Kano,
Rivers and Kaduna had 4.5 million, 3.9 million and 3.4 million respectively as
their labour force size in Q2 2020.
According to the NBS report, states with a higher
propensity for women to be housewives or that have indigenes with negative
attitudes to work tend to have lower unemployment rates as they are not
considered part of the labour force in the first place, and as such have no
bearing on the rate of unemployment.
Unemployment rates (%)
Sources: National Bureau of Statistics (NBS);
Due the peculiarity of this survey because of the
COVID-19 pandemic, the survey incorporated the number of individuals with jobs
but were unable to work due to the pandemic. The results show that an estimated
2,736,076 people (or 3.4% of the labour force) did not work during the period
but have secured jobs to return to after COVID-19 lockdown restrictions are
Lagos state has made positive steps with job
placements through the Lagos State Employment Trust Fund (LSETF). During a
digital dialogue briefing held in June, the Executive Director of LSETF
disclosed that they have considered empowering other states by sharing aspects
of their model to boost job creation and support the youth population across
states in Nigeria. Edo State has already benefitted from this model.
Heads for New-High - PFI Capital Limited
Unemployment Rate Grows By 27.1% As Economy Stutters
Unemployment Rate Moves Up to 27.1% in Q2 2020 from 23.1% in Q3 2018 - NBS
Weight of State Government Debt
- IGR Still
in Need of a Boost
(18) - Selected Sub-Nationals: The Different Faces of Trouble and
(17) - Sub-Nationals: Digging Deep, Wide and Hard
- No Respite
for State Government Finances
the Needed Liquidity from State Owned Assets in the Face of Current
Generated As IGR in 2019 - NBS
- FSDH Group
to Engage 3 Nigerian Governors in a Webinar Session on May 22, 2020
Becomes first Merchant Bank Enlisted in the Lagos State EBS-RCM for