Nigeria’s Unemployment Rate Hits 22% -World Bank

Nigeria’s Unemployment Rate Hits 22% -World Bank

 

The World Bank has put the unemployment rate in Nigeria at 22 per cent while the youth unemployment rate is 38 per cent.
The Team Leader and representative of World Bank Country representative, Professor Foluso Okunmadewa, made the disclosure at the Youth Employment and Social Support Operation (YESSO) organised by Subsidy Reinvestment Programme (SURE-P), in Abuja.
Decrying the high percentage of youth unemployment, he said the country should do something about this as Nigeria’s youth hold the key to achieving Vision 20:2020, adding that 15 to 35-year olds account for close to 60 per cent of Nigeria’s population.
Noting that this figure is about 30 per cent of the workforce of Nigeria’s population, he added that approximately four million Nigerians entered into the labour market annually.

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