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Published 12:20 am
WITH one out of every three persons of working age unemployed, Nigeria is on the verge of a major social crisis. Already notoriously dubbed the world poverty capital, the self-styled ‘Giant of Africa’ is on its way to becoming the ‘world unemployment capital’ going by the latest report by the National Bureau of Statistics.
In its report, ‘Labour Force Statistics: Unemployment and Underemployment,’ the NBS said Nigeria’s unemployment rate rose from 27.1 per cent in the second quarter of 2020 to 33.3 per cent in Q4 2020. This means that within three to six months, over 1.4 million more people became unemployed. In real terms, 23.2 million people out of the 69.7 million people that make up the labour force are unemployed. With the jobless rate now at 33.3 per cent, Nigeria may be on its way to displacing Namibia, which currently has the highest unemployment rate in the world at 33.4 per cent, according to
Adamu Adamu
The Academic Staff Union of Universities (ASUU) was founded in 1978 as an educational trade union to act as a collective pressure group on behalf of all public universities. This was in the heady days of the 1970’s when trade unions had enormous powers and held governments to ransom. We recall that it was the unions in the United Kingdom that brought down Edward Heath’s government in 1974.
Strikes have been a constant feature of ASUU, accounting for about 30 percent of their total existence being lost to strikes which have greatly eroded the value of Nigerian education. A typical Nigerian student spends about six to seven years for a four-year course. Most public school students know when they commence their studies but are clueless as to when they will graduate due to no fault of theirs due to the strikes.
The prices of major food items, such as bags of beans, pepper, tomatoes, eggs amongst others have witnessed a significant surge in Lagos State markets, while the price of local and foreign rice record a slight decrease.
This is according to the latest market survey, carried out by Nairalytics Research – the research arm of Nairametrics.
According to the report, a big bag of brown beans that was initially sold for an average of N33,500, rose by 3.7% to sell for an average of N34,750. Also, the price of a big bag of honey beans increased by 7.02% to sell for an average of N24,750.