See What Will Happen To Unemployment Rate Among Nigerians in 2020 According To Minister of Labour
Nigeria’s Minister of Labour and Employment, Chris Ngige, while speaking 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.
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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 valid reason to worry.
According to reports, the Minister 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.”
In a recent report, released by the United Nations, the life expectancy rate in Nigeria is pegged at 55 years, making the country one with the third lowest chance of living past the age of 55, after Sierra Leone, Chad and the Central African Republic. .
The Minister according to reports further noted that the unemployment rate and poverty levels are on steady paths of growth, indicating high resilience against the intervention efforts.