- Director-General of the Michael Imoudu National Institute for Labour Studies (MINILS), Issa Aremu, has said Nigeria’s official unemployment rate has dropped to about 5 per cent under President Bola Tinubu.
- He attributed the decline to increased economic activity in the public and private sectors, including developments in the downstream oil and manufacturing industries.
The Director-General of the Michael Imoudu National Institute for Labour Studies (MINILS), Issa Aremu, has said Nigeria’s official unemployment rate has dropped to about 5 per cent under President Bola Tinubu.
Aremu made the claim during an interview on Arise TV’s Morning Show, where he discussed employment, industrial activity and the Tinubu administration’s economic policies.
According to him, the National Bureau of Statistics (NBS), using the International Labour Organisation’s methodology, now records unemployment at about 5 per cent.
“Today unemployment is about 5% officially. And that’s quite remarkable. You discover that unemployment dropped compared to what it used to be in double digits, which means there’s an increasing level of activity and employment, both in public and private sectors,” he said.
Aremu attributed the reported decline to increased economic activity, particularly in the downstream oil sector, where he noted the emergence of modular refineries and other developments.
He also said the manufacturing sector was showing positive prospects for job creation, although he stressed that sustainable industrialisation would require the country to address its energy challenges.
“You can’t have sustainable industrialisation without electrification,” he said.
Aremu further argued that some industries were increasingly sourcing raw materials locally through backward integration, which he said was creating employment opportunities across domestic supply chains.
The labour leader, who is also a member of the presidential campaign council, said employment, wages and pensions would remain important issues ahead of the next election. He challenged political candidates to present their records on job creation rather than relying only on promises.
However, the 5 per cent figure in Aremu’s remarks should be read as his reference to the official NBS measure under the newer labour-force methodology. NBS’s published labour-force data showed unemployment at 4.3 per cent in the second quarter of 2024, while the agency explains that its current definition counts people who are unemployed, actively searching for work and available to work.
Reactions
George A Levi: When a man has been given cake to eat and is full , don’t expect him to say the truth about the giver of the cake !!!
Oyinloye B David: “dropped TO” OR Dropped with 5%?
Tayo Daniel Ndego: All this theif wey dey dance na from which percentage Dem dey 👀
EF WORLD: And this is somebody’s father oo 😩😩😩
Obi Ugolo: From the look on his face he know say e dey Jonz us
Ndu Bernard Nze: Aremu of Particular Concern –APC
Tomisin Tochidimma Ezekiel: He’s right many of us are now working at Baba Jebu and bet 9Ja
Edwin Ifeanyi: Since 2016, elders now behave like children,oga try get sense small 🤔
Osamede Abel’s: I still remember this man for said the true during past government but now speaking know is somehow disappointed
