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92% of Nigerian workers are in informal employment — Report

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By Francesca Hangeior

A survey by the National Bureau of Statistics, NBS, has shown that about 92.3 percent of workers in Nigeria are in informal employment as at third quarter 2023, Q3’23.

The survey report titled: “Labour Force Statistics”, released yesterday also showed that the share of Nigerians that were underemployed within the period was 12.3 percent.

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Meanwhile, the unemployment rate in the country increased by 0.8 percentage points to 5.0 percent in Q3’23 from 4.2 percent recorded in Q2’23, according to the report.

The NBS report stated further: “The unemployment rate by sex among men was 4.0 percent and among women was 6.0 percent.

“Disaggregation by location, the unemployment rate was 6.0 percent in urban areas and 4.0 percent in rural areas.

“Focusing on young people, the youth unemployment rate was 8.6 percent.”

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On underemployment rate, the bureau said: “In Q3’23, the share of employed Nigerians that were underemployed was 12.3 percent.

“In disaggregating underemployment by sex, the share of employed men who were underemployed was 8.7 percent while the share of employed women who were underemployed was 16 percent.” On employment rate, NBS said:

“In Q3’23, 75.6 percent of Nigeria’s working-age population was in employment. “In Q3’23, 87.3 percent of employed Nigerians were primarily selfemployed with the remaining 12.7 percent being primarily engaged as employees.

“The share of employed persons in informal employment was 92.3 percent in Q3’23 a reduction of 0.4 percent when compared to 92.7 percent in the previous quarter.

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The rate of informal employment among people living in rural areas was 97.2 percent while the urban informality rate was estimated at 87.5 percent

“Disaggregating by sex, the employment-topopulation ratio was 77.7 percent for males and 73.5 percent for females.

“The employment-to population ratio in urban areas was 71.1 percent and 80.7 percent in rural areas.” The report also showed that 13.7 percent of youth are not in employment, education or training (NEET Rate) in Q3’23.

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SAD! Boat ferrying Over 200 Passengers Capsizes In Niger State, Claims Many Lives

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A boat ferrying over 200 passengers capsized early Friday morning along the Dambo-Ebuchi stretch of River Niger in Niger State, resulting in several fatalities.

Eyewitnesses reported that the vessel, owned by one Musa Dangana, was en route to the Katcha weekly market, transporting a mix of market women, farm laborers, and other passengers.

The boat overturned, throwing everyone on board into the river.

As of the latest updates, local rescue teams have recovered eight bodies, with ongoing search efforts aimed at finding the remaining missing individuals.

This incident follows a similar tragedy just two months ago on October 1, when another boat capsized on the Muwo Gbajibo River in the Mokwa Local Government Area, also claiming numerous lives.

Reports suggest that none of the passengers were wearing life jackets, which may have contributed to the severity of the tragedy.

Authorities have yet to release an official statement, but investigations into the cause of the capsizing are expected to begin soon.

Rescue operations continue, and local authorities are urging increased safety measures to prevent future accidents on the river.

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SEE FULL LIST of Tinubu’s latest seven appointments

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President Tinubu has made seven new appointments.

President Bola Tinubu has appointed four individuals to join the Police Service Commission (PSC).

This Nigeria news platform understands that President Tinubu has now forwarded their names to the Senate for approval.

The nominees are Buba Ringim (rtd), a former Deputy Inspector General of Police; retired Justice Adamu Paul Galumje; Christine Ladi Dabup; and Abdulfatah Muhammed.

The President’s request, communicated by Senate President Godswill Akpabio, seeks confirmation under Section 154(1) of Nigeria’s 1999 Constitution.

In another separate request, the President nominated three individuals for the Governing Board of the Code of Conduct Bureau (CCB).

The nominees include Fatai Ibikunle, Kennedy Ikpeme, and Justice Ibrahim Buba. This request also aligns with the constitutional provisions outlined in Section 154(1) and the Third Schedule of Nigeria’s Constitution.

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Just in: NNPCL announces PH Refinery petrol price at N1,030 per litre

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The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has confirmed that petrol from the PortHarcourt refinery will be sold at N1,030 per litre, as disclosed by the Nigerian National Petroleum Company Limited (NNPCL).

In a statement released on Thursday night, PETROAN’s spokesman, Joseph Obele, stated that the NNPCL officially communicated the pricing to the association.

However, in a statement on Thursday night, PETROAN mentioned that a portal for product booking has been opened and petrol is being sold at N1,030 per litre.

PETROAN spokesman, Joseph Obele said, “NNPC Retail Ltd has officially announced the PMS price at the Port Harcourt refinery as N1,030 per litre. It was also communicated to PETROAN that the product request portal was open for booking/request.”

Obele further clarified that despite earlier claims of the refinery being non-functional, the plant is currently running at 70% of its capacity.

The refinery’s full capacity, which is 60,000 barrels per day, is expected to increase to 90% soon.

This news comes as part of NNPC’s ongoing efforts to revive its refineries, with plans for the new refinery, which has a capacity of 200,000 barrels per day, to begin production shortly.

Obele emphasized that both refineries, located in the Eleme area of Rivers State, are crucial for the country’s oil production, with PETROAN expressing interest in collaborating with all active refineries in Nigeria.

Additionally, the Senate Committee on Petroleum Resources recently visited the refinery, confirming its functionality and witnessing petroleum trucks being loaded.

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