The National Bureau of Statistics has released second quarter Labour Productivity Report for Nigeria showing labour productivity has increased slightly to N730.83 in Q2 2015 from N669.57 in Q1 2015 representing a 9.1% increase.
The report also reveals Nigerian workers clocked in a total of 139,274,059,524.51 hours in 2014 up from 3.4% from a year ago.
|labour force||GDP at current prices (N)||Total hours worked per year||Labour productivity per hour/annum (N)||Labour productivity per – hour/annum (USD)*|
The report also confirmed that Nigerians worked a total of 31,277,355,014.32 hours for the second quarter of the year. Despite this, Nigerians only produced N730 per hour and per quarter. The total productivity per hour for 2014 was N639.3 only very poor considering how hard we work.
|Period||Q1 2015||Q2 2015|
|GDP Current (N)||21,041,701,096,899.80||22,859,153,010,296.10|
|Total Hours Worked Per Quarter||31,498,689,736.34||31,277,355,014.32|
|Labour productivity per hour/qtr||669.57||730.85|
|Labour productivity per hour/qtr (USD)**||3.5||3.71|
What this means
This perhaps suggest Nigerians put in a lot of man hours everyday without producing the desired value in terms of output. For example, a Medical doctor working 9-5 every day probably charges less than his counterpart in a richer country.