Browsing: National Bureau of Statistics (NBS)

Nigeria’s inflation rate has dropped. According to the consumer price index report released by the National Bureau of Statistics (NBS) on Monday May 17, 2021, the inflation rate recorded a slight drop in the month ending April 2021, shedding 0.05 per cent to close at 18.12 per cent in the month under review.

In the preceding month of March, the country’s inflation was 18.7 per cent.

According to the NBS inflation report, the Consumer Price Index, which measures inflation increased by 18.12 per cent (year-on-year) in April 2021.

“This is 0.05 per cent points lower than the rate recorded in March 2021 (18.17 per cent),” the bureau said.

The 0.05 per cent drop in April 2021 was the first time the country’s inflation rate would fall in about 20 months, as the last time it fell was in 2019 when the CPI shed 0.06 per cent, falling from 11.08 per …

Nigeria’s unemployment rate has risen to 33.3% in Q4, 2020.

The rate rose from 27.1% recorded as of Q2 2020, indicating that about 23,187,389 Nigerians remain unemployed.

According to the recently released labour force report published by the National Bureau of Statistics (NBS), the underemployment rate decreased from 28.6% to 22.8%.

The statistics show a combination of both the unemployment and underemployment rate for the reference period gave a figure of 56.1%.

This means that 33.3% of the labour force in Nigeria or 23,187,389 persons either did nothing or worked for less than 20 hours a week, making them unemployed.

This is an additional 1,422,772 persons from the number in that category in Q2, 2020. Using the international definition of unemployment, the rate was computed to be 17.5%.

Education

According to the report, those reporting A ‘levels as their highest qualification had the highest rate of unemployment with 50.7%, followed …