Unemployment in Nigeria

Nigeria Unemployment | Economic News & Forecasts

Nigeria - Unemployment

Incumbent President Muhammadu Buhari comfortably beat his main rival, former Vice-President Atiku Abubakar, in the 23 February presidential election, securing 55.6% of the votes compared to Abubakar’s 41.2%. Given that Abubakar’s market-oriented reform agenda could have triggered a major shift in economic policy, particularly for the management of the exchange rate regime and the all-important oil industry, those risks have largely dissipated with Buhari’s reelection and the status-quo to policymaking is thus set to remain going forward. Meanwhile, available data points to a slight loss of momentum at the start of the year, after economic growth hit an over three-year high in the final quarter of 2018. The PMI fell for the third month in a row in February which, coupled with a less upbeat outlook among firms in the same month, hint at reduced private sector dynamism in Q1 2019.

Nigeria - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate3.7  4.6  4.3  7.1  7.0  

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Nigeria Unemployment Chart


Nigeria Unemployment
Note: Unemployment, % of active population.
Source: National Bureau of Statistics

Nigeria Facts

ValueChangeDate
Bond Yield14.470.0 %Mar 20
Exchange Rate306.43.08 %Mar 20
Stock Market1.10.0 %Mar 19

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