The new NBS data that put unemployment figure at 4.1 per cent in Nigeria is misleading and for such misinformation,the statistician general should be removed from office.
Leaders need working tools to understand the situation in an economy. How will the president react if he is told unemployment figure is only 4.1%?
Only two years ago,the same agency put unemployment figure at 33%. Now that the economy had contracted due insecurity and bad government policies,how can unemployment drop to 4.1%?
The problem started when the NBS committee reviewed the minimum number of work hours to one hour by an individual to be considered as gainfully employed. This is madness because money made in a one hour cannot even buy lunch in Nigeria.
Compared to America and Europe,even 12 hours wage generated in Nigeria cannot provide liveable income. And we all know that wages are counted by days not hours in Nigeria and salaries are payed on monthly basis. So why adopt a standard that is in contrast with our local reality?
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