After Over Two Years Of anticipation from the Nigerian populace, the National Bureau of Statistics eventually published Nigeria’s labour statistics, considered an official analysis of the employment level of Africa’s most populous country.
Prior to the report, economic and finance experts had difficulty assessing the real-time data on the nature of the labour market and how to measure the impact of government policies and numerous pledges to create jobs.
But from the country’s grim economic realities, it was as clear as crystal that the country was facing a dire risk of high unemployment. In fact, the International Labour Organisation had in January 2023, expressed worry that “current monetary tightening to fight inflation could overshoot, potentially leading to high levels of unemployment.”