Nigeria’s Unemployment Rate Estimated To Reach 33.5% By 2020

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Nigeria’s Unemployment Rate By 2020

Chris Ngige, Nigeria’s Minister of Labour and Employment who spoke yesterday at the opening of a two-day workshop on Breaking the Resilience of High Unemployment Rate in the Country in Abuja, revealed that Nigeria’s unemployment rate is expected to reach 33.5% by 2020.Ngige who confirmed that the data from the National Bureau of Statistics (NBC) shows that Nigeria’s unemployment rate could reach 33.5 percent by 2020, added that the high unemployment rate of 23.1 percent and underemployment of 16.6 percent by the National Bureau Statistics (NBS) of 2019 report is a source to worry.

 

He said; “It is a worrisome status as the global poverty capital (World Bank, 2018); and concomitant high prevalence rate of crimes and criminalities, including mass murders, insurgency, militancy, armed robbery, kidnappings, drug abuse, among others.

 

“As if this situation is not scary enough, it is projected that the unemployment rate for this country would reach 33.5 percent by 2020, with consequences that are better imagined, if the trend is not urgently reversed.”

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