The Labour statistics report of Nigeria in Q4 2017 has shown that there is 7.9 million Nigerian youth aged 15-34 that are currently unemployed.
The report, which was released on Monday, June 5, 2017, by the National Bureau of Statistics (NBS) also revealed that 58.1% of youth within this age bracket who are currently working are underemployed.
Though, the active population in the country increased by 0.5% within the period, over 2.9 million graduates and another 5 million semi-skilled workers also lose their jobs within this period.
It would be recalled that recently the President Muhammadu Buhari’s administration gave its midterm performance with only N-power being noted as a major job creation initiative by the current government.
On the gender spread of unemployment in Nigeria, the country has a 5.086 million of unemployed male and 6.46 million of the unemployed female. Also, the figure indicates that 24.2 % of employed female gender are underemployed.
Noting the importance of education, about 3.4 million of uneducated Nigerians find it hard to get a job, as the unemployment rate in the rural areas is also on the increase.
There are about 6.8 million unemployed people in rural areas, while urban areas have a pool of 4.7 million unemployed people.
The report simply shows that Nigerian government must double its factors towards creating jobs and enabling an environment for business to grow. One of these very quick ways to this is by signing the 2017 budget in order to revive some idle sectors of the economy, especially the construction and building sector.