Nigeria’s unemployment rate surges in Q2’2020, The Nigerian Economic Summit Group
Aug 2020

Nigeria’s unemployment rate surged to 27.1% as at Q2’2020: The highest level ever amid COVID-19 pandemic

According to the National Bureau of Statistics (NBS), the Nigerian economy witnessed a sharp rise in unemployment rate from 23.1% as at Q3’2018 to 27.1% as at Q2’2020. This corresponds to 4.3% increase in unemployed persons to 21.8 million as at Q2’2020 relative to the number of unemployed persons as at Q3’2018 (20.9 million). The rate of underemployment also increased to 28.6% as at Q2’2020 from 20.1% as at Q3’2018. The current rates of unemployment and underemployment represent the highest levels ever.