By Olukayode Idowu
The Centre for Social Justice (CSJ), a knowledge institution and a leading advocate for fiscal transparency, accountability and evidence driven policy making and implementation has strongly demanded the compilation and release of Nigeria’s current unemployment data from the National Bureau of Statistics (NBS).
According the Centre, as the institution responsible for the production of official statistics crucial for economic growth and development, the NBS has a duty to provide up-to-date information to policymakers, taxpayers and the public.
“Nigeria’s last unemployment data was released by the NBS in the fourth quarter of 2020. However, since then, there has been glaring absence of updated information, which we consider a dereliction of duty”, CSJ observed, emphasizing the urgent need for the NBS to release the quarterly and yearly employment data for 2021, 2022, and 2023 without further delay.
In the fourth quarter of 2020, Nigeria’s unemployment rate reached a distressing record high of 33.3%, a significant increase from the 27.1% recorded in the second quarter of the same year. NBS reported that during that period, a staggering 23.18 million individuals in Nigeria either remained unemployed or worked less than 20 hours per week, rendering them jobless.
The combination of unemployment and underemployment led to a concerning figure of 56.1% for the reference period, signifying the immense challenges faced by Nigerians in finding suitable and adequate employment that provides a living wage. The NBS also highlighted the states with the highest rates of unemployment and underemployment, with Imo State leading at 56.64% for unemployment and Benue State at 43.52% for underemployment.
Alarming projections from KPMG further amplify the urgency of the situation. The latest figures indicate that Nigeria’s unemployment rate is predicted to rise to 40.6% in 2023, compared to 37.7% in 2022. KPMG’s International Global Economic Outlook report – H1 2023 explains that factors such as limited private sector investment, low industrialization, slower-than-required economic growth, and the inability of the economy to absorb new entrants into the job market contributing to this worrisome trend.
Moreover, the report suggests that GDP growth will continue at a sluggish pace of 3% in 2023, primarily due to the anticipated slowdown in economic activity during periods of political transition in Nigeria.
Additionally, the projected global economic slowdown in 2023 and its trade and financial implications are expected to further impede GDP growth. The Naira Redesign Policy, implemented in Q4 2022 and Q1 2023, also negatively affected key non-oil sectors, including manufacturing, trade, accommodation and food services, transportation, and other services, compounding the overall slowdown in GDP growth for 2023.
CSJ notes that timely access to accurate data and information is vital for formulating effective policies and interventions to address the pressing unemployment crisis in the country. Failure to release this critical data only serves to hinder progress and exacerbate the challenges faced by Nigerian citizens.
There is a strong impression created in the minds of discerning Nigerians that the failure to produce the job reports is motivated by partisan political considerations which has nothing to do with the capacity and resource available to the NBS. Rather, the decision seeks to hide the woeful performance of the government from taxpayers. Take notice that CSJ shall approach the courts for an order of mandamus compelling NBS to perform its public duty if this request is ignored.