Nigeria's unemployment rate climbed to 33.3% of the labour force in the last quarter of 2020. The National Bureau of Statistics (NBS) in its report on unemployment and underemployment, revealed that 23,187,389 people are unemployed in the country.

Of the 69.7 million people in nigeria's labour force, 23,187,389 people are unemployed, representing an unemployment rate of 33.3%. The job market has been impacted in recent years by lower oil prices, border closure measures, insecurity and the covid-19 pandemic.
According to the report of the National Bureau of Statistics, these figures reflect an increase in the number of unemployed people compared to previous quarters.
The NBS report indicates that people aged 15 to 24, women and people living in rural areas are more affected by the phenomenon.

Indeed, the unemployment rate for people aged 15 to 24 is estimated at 53.4%, while that of people aged 25 to 34 is 37.2%. Similarly, the rate of unemployed women of working age is estimated at 35.2 per cent, compared with 31.8 per cent for men. In rural areas, the registered unemployment rate is 34.5 per cent, while urban dwellers reported a rate of 31.3 per cent.

At the same time, the institution indicates that the underemployment rate estimated at 22.8% has decreased compared to the rate of 28.6% recorded in the second quarter of 2020.