'The insult must stop immediately' - Nigerians question NBS' 41% unemployment rate

Reactions have greeted the recently released unemployment data which took everyone by surprise.

From the 33% record in 2020 that was widely recognized, the NBS recently announced a drastic reduction to 4.1%.

Legit.ng earlier reported that Nigeria’s unemployment rate has dropped to 4.1% for the first quarter of 2023 from 5.3 percent recorded in the previous quarter.

Meanwhile, a recently released report by KPMG said Nigeria's unemployment figure was estimated at 40.6 % in 2023, from 37.7% in 2022.

How Nigerians are reacting

The new information has left everyone wondering how a country battling some a bunch of economic issues managed to come out of its unemployment problems with issues like FX scarcity, high inflation still presence in the country.

Nigerians has since taken to social media to express their view of the recent report and questioning how the magic in the figure.

_@ayemojubar said: "4% unemployment rate but >=80% of your citizens can hardly make ends meet. Only in Nigeria."

_@AnthonyAY19 noted "From 2015 to 2022 Nigeria Unemployment Rate is 33% But because Tinubu and his drug baron supporters want Nigeria to believe what they are doing now they're telling us that Unemployment Rate is now 4.1% in just 2 months. In a country where people can't see food to eat."

_@chude__ commented, "What if the unemployment rate dropped because many Nigerians youths are now earning in $ on Twitter?"

_@prosperstouch said, "Welldone @NBS_Nigeria for performing a successful forgery on our unemployment rate. Your 4.1% reduction without jobs is genius The spirit of INEC doth rest on you. Pls remember other sectors. Fake it to make it Faith without forgery is dead Good governance must appear by force!"

_@PastorMarvy stated, "Unemployment figures now down to 4.1% from 33%. Now, this is a true reflection of the Nigerian Labour market! Underemployment is the issue not unemployment."

_@mrfestusogun noted, "4.1% unemployment rate statistics is inaccurate and does not reflect the reality of our people. The insult must stop immediately."

Nigeria’s unemployment rate at 33% is highest worldwide

Recent information made available by the World of Statistics has shown that Nigeria has the highest rate of unemployment in the world according to Legit.ng earlier report.

According to the data which was also confirmed by The Punch, Nigeria has the highest percentage (33.3%), followed by South Africa (32.9%), also an African nation, and Iran (15.55%).

On the other hand, the countries with the lowest rate of unemployment were Qatar: 0.1%, Cambodia: 0.36%, and Niger 0.5%.