Macro-Economic News
South South States lead in Nigerian unemployment
The South-South geopolitical zone is the most affected region with 37.0% unemployment rate.
Nigeria’s unemployment figures were released by the National Bureau of Statistics (NBS) on Friday. The NBS also released the most affected regions in Nigeria, as unemployment climbed to 27.1%.
According to the report, the South-South geopolitical zone is the most affected region with 37.0% unemployment rate, followed by the South East with 29.1%, the North Central with 27.9%, the Northeast with 27.9%, North West with 26.3%, and the South West with 18.0%.
(READ MORE:13.9 million Nigerian youth are unemployed – NBS)
Further details in the report showed that the South South states have a collective total workforce of 13,929,526. Out of this number, a total of 5,147,325 are unemployed, according to the report.
See more details below
- Akwa Ibom State led in unemployment in the region at 45.2% and underemployment at 21.7%. 1,444,399 residents were recorded as unemployed with a total labour force of 2,534,495.
- Rivers State came second with Unemployment at 43.7% and Underemployment at 19.8%. %. 1,714,189 residents were recorded as unemployed with a total labour force of 3,921,860.
- Delta State in 3rd position with unemployment at 40.3% and underemployment at 20.1%. 1,005,848 residents were recorded as unemployed with a total labour force of 2,494,452
- Cross River in 4th position with Unemployment at 31.6% and Underemployment at 26.6%. 618,484 residents were recorded as unemployed with a total labour force of 1,959,675.
- Bayelsa recorded unemployment at 27.8% and underemployment at 20.6%. 287,671 residents were recorded as unemployed with a total labour force of 1,033,280.
- Edo state had the lowest unemployment in the region at 19.0% and underemployment at 34.9%. 376,734 residents were recorded as unemployed with a total labour force of 1,985,765.
It is interesting to note that the oil rich South South states of Akwa Ibom, Rivers, Bayelsa, and Delta receive the highest FAAC allocation from the Federal Government monthly.
It is also important to note that the NBS classifies those engaged in agriculture as “employed” and this could be a factor as to why unemployment rate in the South South is high. This is because South South states like Akwa Ibom do not have the land mass needed for large scale farming compared to states in the North.
This notwithstanding, the truth remains that failure to quickly address the high unemployment figures in the region could lead to more crime and violence.
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