Nigeria's unemployment rate came in at 27.1 percent in the second quarter of 2020, the highest on record. It was the first time since 2018 that Nigeria's national bureau of statistics published such figures. It compares to 23.1 percent seen back in the third quarter of 2018. Nigeria has been grappling with the coronavirus pandemic and a plunge in oil prices.
Unemployment Rate in Nigeria averaged 12.84 percent from 2006 until 2020, reaching an all time high of 27.10 percent in the second quarter of 2020 and a record low of 5.10 percent in the fourth quarter of 2010. This page provides the latest reported value for - Nigeria Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Nigeria Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: National Bureau of Statistics, Nigeria
Unemployment Rate in Nigeria is expected to be 31.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Nigeria to stand at 31.90 in 12 months time. In the long-term, the Nigeria Unemployment Rate is projected to trend around 32.00 percent in 2021 and 32.50 percent in 2022, according to our econometric models.