The National Bureau of Statistics (NBS) has revealed that Nigeria’s unemployment rate increased to 5.3 per cent in the first quarter of 2024. The latest figures were disclosed in a report released by the NBS on Tuesday, marking an uptick from the 5.0 per cent recorded in the third quarter (Q3) of 2023.

According to the NBS, the unemployment rate for males stood at 4.3 per cent, while females experienced a higher rate of 6.2 per cent during the same period. The report also highlighted disparities based on location, with urban areas recording a 6.0 per cent unemployment rate compared to 4.3 per cent in rural areas for Q1 2024.

“The unemployment rate for Q1 2024 was 5.3%, showing an increase from 5.0% recorded in Q3 2023,” the bureau stated in its report. The NBS defines the unemployment rate as the percentage of the labour force, including both employed and unemployed individuals, who are not working but are actively seeking employment.

Youth Unemployment Rate Declines

In a positive development, the report indicated a slight drop in youth unemployment, which fell to 8.4 per cent in Q1 2024, down from 8.6 per cent in Q3 2023. This figure represents the unemployment rate among Nigeria’s young people, a demographic that often faces unique employment challenges.

Educational Attainment and Unemployment

The report further provided insights into unemployment rates based on educational attainment. Individuals with postgraduate education recorded the lowest unemployment rate at 2.0 per cent, while those with post-secondary education faced a rate of 9.0 per cent. For people with secondary education, the rate stood at 6.9 per cent, and those with only primary education recorded a 4.0 per cent unemployment rate.

Employment-to-Population Ratio Falls to 73.2%

In addition to the unemployment data, the NBS also reported a decline in Nigeria’s employment-to-population ratio, a critical indicator of workforce participation. The ratio dropped to 73.2 per cent in Q1 2024, down from 75.6 per cent in Q3 2023. This ratio represents the percentage of the working-age population that is employed.

Breaking the data down by gender, the employment-to-population ratio for males was 74.2 per cent, while it was 72.3 per cent for females. By place of residence, urban areas had an employment-to-population ratio of 69.5 per cent, while rural areas recorded 78.9 per cent in Q1 2024, compared to 71.1 per cent and 80.7 per cent in Q3 2023, respectively.

Over 31.8 million Nigerians are grappling with acute food insecurity, with malnutrition among women and children compounding the crisis, according to the 2024 Cadre Harmonise report.

The surge in food commodity prices, driven by the removal of fuel subsidies and ongoing security challenges, has plunged millions of Nigerians into a dire situation.

A statement released on Wednesday by Julie Osagie-Jacobs, the Public Relations Officer of the Ministry of Budget and Economic Planning, highlighted that development partners including the Food and Agriculture Organization (FAO), the Global Alliance for Improved Nutrition (GAIN), GIZ, and Agsys disclosed these findings at a joint review meeting on the implementation of food systems in Nigeria, held from August 26th to 27th, 2024.

The report indicates a sharp increase in the number of people experiencing acute food insecurity, up from 18.6 million identified as vulnerable between October and December 2023 by the U.N. World Food Programme.

“The surge in food commodity prices, which is a result of the removal of fuel subsidy in addition to security challenges, has placed millions of Nigerians in a precarious situation,” the ministry stated.

Stakeholders at the meeting advocated for a multi-sectoral approach to address food security challenges, emphasizing the need for collaboration among various sectors. They stressed that civil society organizations and the private sector must be involved to extend the reach of nutrition efforts. The partners also pledged their unwavering support to transform Nigeria’s food system.

The study, produced by development partners including the U.N. Food and Agriculture Organization, the Global Alliance for Improved Nutrition, and the German development agency GIZ, utilized data from a nutrition analysis conducted by the Cadre Harmonise, a regional food security framework.

Sanjo Faniran, Nigeria’s national convener of Food Systems and director of social development in the budget and economic planning ministry, noted that the study helped to identify gaps, successes, and challenges, and offered recommendations.

This report comes amid soaring food inflation, which has exceeded 40 percent in the country. The crisis is a consequence of the removal of fuel subsidies by President Bola Tinubu, who took office in May 2023.

The president has stated that the removal was aimed at reducing government spending, a decision that has led to a rise in transportation costs, further exacerbating food prices.

Additionally, the persistent raids by bandits have forced many farmers to abandon their fields, contributing significantly to the increase in food prices. In response, the Nigeria Police Force announced last week that it had begun providing security for farmers in the Northern regions of the country to enable them to return to their farms as the harvest season approaches.

With food security challenges escalating, stakeholders are calling for immediate and coordinated actions to mitigate the impact on vulnerable populations, particularly women and children.

The Federal Government has inaugurated a 10-member inter-ministerial committee to enforce the recent Supreme Court ruling that granted financial autonomy to local governments across the country.

This follows the Supreme Court’s landmark decision on July 11, declaring it unconstitutional for state governors to withhold funds meant for local government administrations.

The ruling was seen as a critical step towards ensuring the financial independence of local governments, which are recognised as the third tier of government by the Nigerian Constitution.

Five weeks after the ruling, the Secretary to the Government of the Federation (SGF), Senator George Akume, has set up a high-level committee to implement the verdict. The committee, which Akume will chair, was inaugurated on Tuesday, according to a statement released by the Director of Information and Public Relations in the Office of the SGF, Segun Imohiosen.

The committee comprises key government officials, including the Minister of Finance and Coordinating Minister of the Economy, the Attorney General of the Federation and Minister of Justice, the Minister of Budget and Economic Planning, and the Accountant General of the Federation.

Other members include the Governor of the Central Bank of Nigeria (CBN), the Permanent Secretary of the Federal Ministry of Finance, the Chairman of the Revenue Mobilization Allocation and Fiscal Commission, as well as representatives of state governors and local governments.

According to the statement, “The committee’s primary goal is to ensure that local governments are granted full autonomy, allowing them to function effectively without interference from state governments.”

This development aligns with President Bola Tinubu’s administration’s broader efforts to uphold the constitutional provisions recognising local governments as an essential tier of governance in Nigeria.

The move is expected to enhance the capacity of local governments to deliver services more effectively to their communities, free from the financial constraints previously imposed by state governments.

The establishment of this committee marks a significant step towards the practical implementation of the Supreme Court’s ruling, signaling the Federal Government’s commitment to strengthening local governance and promoting transparency and accountability in the management of public funds.