92% Nigerians Informally Employed – NBS Report

The National Bureau of Statistics has revealed that in Q1 2023, 92.6 percent of employed persons in Nigeria were in informal employment which includes agriculture, while 89.4 percent in informal employment which excludes agriculture.

The NBS stated this in its “Nigeria Labour Force Survey” published on its website on Thursday.

According to the report, Nigeria’s unemployment rate was 5.3 percent in Q4 2022 and 4.1 percent in Q1 2023.

The new release shows a significant reduction in the unemployment rate, compared to the 33.3 percent published by the statistics body as Nigeria’s unemployment rate in 2020.