Nigeria Suffering Worst Unemployment Crisis, Reports W’Bank
BUHARI
*More Nigerians seeking asylum
Nigeria is currently suffering the worst unemployment crises, the World Bank has said.
The bank in its latest report disclosed that the country has also recorded increasing number of its citizens seeking asylum and refuge status in other countries.
The bank in the report ‘Of Roads Less Travelled: Assessing the Potential for Migration to Provide Overseas Jobs for Nigeria’s Youth’ published by THISDAY Newspaper, said there were about 2.1 million Internally Displaced Persons (IDPs) in Nigeria in 2020 as at 2020.
The reason given for the asylum include unemployment and unfulfilled aspirations by Nigerians.
The report added that the number of migrants from Nigeria has increased threefold in the past 10 years, from 446,806 in 1990 to 1,438,331 as at 2019.
According to the report, the number of Nigerians wishing to leave the country has continued to increase.
The report also said the number of persons coming into Nigeria has on the other hand remained stagnant in the past 10 years.
The report said, “An important trend that is observed in the data is the rise in the number of refugees and asylum seekers from Nigeria. The share of refugees and asylum seekers from Nigeria has increased drastically in the last decade, growing from 27,557 in 2010 to 408,078 in 2019.”
“Nigeria is facing one of the most acute jobless crises in recent times. Between 2014 and 2020, Nigeria’s working age population grew from 102 million to 122 million, growing at an average rate of approximately 3 per cent per year.
“Similarly, Nigeria’s active labour force population, that is, those willing and able to work among the working age population, grew from 73 million in 2014 to 90 million in 2018, adding 17.5 million new entrants to Nigeria’s active labour force.
“Since 2018, however, the active labour force population has dramatically decreased to around 70 million—lower than the level in 2014— while the number of Nigerians who are in the working-age population but not active in the labour force has increased from 29 million to 52 million between 2014 and 2020.
“The expanding working-age population combined with scarce domestic employment opportunities is creating high rates of unemployment, particularly for Nigeria’s youth”.
Nigeria is currently suffering the worst unemployment crises, the World Bank has said.
The bank in its latest report disclosed that the country has also recorded increasing number of its citizens seeking asylum and refuge status in other countries.
The bank in the report ‘Of Roads Less Travelled: Assessing the Potential for Migration to Provide Overseas Jobs for Nigeria’s Youth’ published by THISDAY Newspaper, said there were about 2.1 million Internally Displaced Persons (IDPs) in Nigeria in 2020 as at 2020.
The reason given for the asylum include unemployment and unfulfilled aspirations by Nigerians.
The report added that the number of migrants from Nigeria has increased threefold in the past 10 years, from 446,806 in 1990 to 1,438,331 as at 2019.
According to the report, the number of Nigerians wishing to leave the country has continued to increase.
The report also said the number of persons coming into Nigeria has on the other hand remained stagnant in the past 10 years.
The report said, “An important trend that is observed in the data is the rise in the number of refugees and asylum seekers from Nigeria. The share of refugees and asylum seekers from Nigeria has increased drastically in the last decade, growing from 27,557 in 2010 to 408,078 in 2019.”
“Nigeria is facing one of the most acute jobless crises in recent times. Between 2014 and 2020, Nigeria’s working age population grew from 102 million to 122 million, growing at an average rate of approximately 3 per cent per year.
“Similarly, Nigeria’s active labour force population, that is, those willing and able to work among the working age population, grew from 73 million in 2014 to 90 million in 2018, adding 17.5 million new entrants to Nigeria’s active labour force.
“Since 2018, however, the active labour force population has dramatically decreased to around 70 million—lower than the level in 2014— while the number of Nigerians who are in the working-age population but not active in the labour force has increased from 29 million to 52 million between 2014 and 2020.
“The expanding working-age population combined with scarce domestic employment opportunities is creating high rates of unemployment, particularly for Nigeria’s youth”.
FOLLOW US
About Post Author
