Unemployment Rate in Nigeria: What is the Actual Figure?

When I take a look at the articles on our dear motherland Nigeria, I find myself happy with the reputation we have gained over time, however, at other times I feel sad because everyone seems to be in search for a job. Let us take a look at our profile and you would indeed see that we have truly gained that reputation. Nigeria is the 12th largest producer of petroleum in the world, 8th largest exporter, and has the 10th largest proven reserves. Nigeria is often referred to as the giant of Africa due to its population and economy. A country with over 250 ethnic groups, rich in culture and traditions. The most populous black nation in the world, the most populous nation in Africa, seventh most populous country in the world and also with one of the largest population of youths in the world. As of 2014, Nigeria is the largest economy in Africa and with regards to GDP (PPP) is the 21st largest economy in the world. Overall, Nigeria is blessed with lot of mineral resources, however, we all know that a country where crude oil accounts for 40% of GDP and 80% of Government earnings, a dwindling price of crude oil would spell doom for such a country.

As I ponder on these record breaking achievements, the one that catches my eye and kept coming to mind is the fact that Nigeria has one of the largest population of youths in the entire world. Oh, "Are these youths gainfully employed?" Some are employed and some are not. Ask most youths about employment opportunities and they tell you they are looking for one too. Then the question is, "What is actually the figure of unemployment rate in Nigeria?" Sometimes we hear that 1 million jobs were created and infact recently I made a post on about 4,250 jobs created. This kind of job creation should at least have effect on the unemployment rate figures and a general improvement in the standard of living. In the USA for example, when you hear of job creation, you also hear of the reduction of unemployment rate from maybe13% to 9%. They then go further to let you know that with the addition of 300, 000 jobs by maybe second quarter, the unemployment rate should have dropped to 8.5%. Just look at the analysis. 

Here in Nigeria, exception is the case, only the jobs created would be made known or a report of rise in unemployment by 2% would be announced. "Can anybody give the actual figure before the 2% rise?" To satisfy my curiosity, I had to search for answers and I thought the right place to get them was the National Bureau of Statistics, since they get information from about 9 other bureaus (National Planning Commission, Economic and Financial Crimes Commission, Federal Ministry of Health, National Population Commission, Nigerian Stock Exchange, Nigerian Embassies and High Commissions, Federal Ministry of Finance, Central Bank of Nigeria and Nigerian National Petroleum Corporation). But I was disappointed because despite all the information believed to be contributed by these other bureaus, there was no place on the National Bureau of Statistics website to give information on unemployment rate figures. It was job creations and other things on the website. The level of information available to the National Bureau of Statistics is good enough to estimate our unemployment rate figures, however, the figures are not there for us to see and my question is, "why?"

There are rumours that the unemployment rate is between 23-29%. We don't need to live our lives by rumour standards. If it is true, I think we should all be aware, live by it and make demands for ways to create jobs to reduce the unemployment rate. While the National Bureau of Statistics of developed countries publishes figures of their unemployment rates, I don't know why ours have decided to keep it. When jobs are created with figures released each time the creation is done, the bureau of statistics should also come out to tell us that, the over 500, 000 jobs created have brought about a decrease in the level of unemployment rate in the country and therefore this is the new figure. God bless our motherland! God bless Nigeria!