Unemployment Rate in Nigeria decreased to 4.30 percent in the second quarter of 2024 from 5.30 percent in the first quarter of 2024. This dataset 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.

In 2024, the unemployment rate in Nigeria amounted to 2.99 percent. Between 1991 and 2024, the figure dropped by 0.86 percentage points, though the decline followed an uneven course rather than a steady trajectory.

Youth Unemployment Rate in Nigeria decreased to 6.50 percent in the second quarter of 2024 from 8.40 percent in the first quarter of 2024. This dataset provides - Nigeria Youth Unemployment Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria Unemployment Rate: Female data was reported at 5.100 % in Jun 2024. This records a decrease from the previous number of 6.200 % for Mar 2024. Nigeria Unemployment Rate: Female data is updated quarterly, averaging 6.000 % from Dec 2022 (Median) to Jun 2024, with 7 observations. The data reached an all-time high of 6.600 % in Dec 2022 and a record low of 5.000 % in Jun 2023. Nigeria Unemployment Rate: Female data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s Nigeria – Table NG.G003: Unemployment Rate: New Methodology.

As of 2023, the State of Abia, registered the highest unemployment rate in Nigeria, at nearly 19 percent. This was followed by FCT and Rivers with rates reaching 13 percent and 14 prcent, respectively. In contrast, Lagos state achieved the lowest unemployment rate, at 5.5 percent.

In the fourth of 2020, the unemployment rate in Nigeria reached 33.28 percent. Between 2015 and 2020, the unemployment rate grew. In particular, in 2017 the unemployment rate registered the fastest growth, increasing by about six percentage points during the year. However, this data were calculated according to the Nigerian methodology. Based on the most common international methodology, the unemployment rate in Nigeria stood at 17.5 percent. The NEW Nigeria methodology defines as unemployed labor force who did not work at all or worked for less than 20 hours a week. The international definition, instead, include people aged 15 years to 64 years old who were available for work, actively seeking work, but were unable to find work.

In 2024, the estimated youth unemployment rate in Nigeria was at almost 5.05 percent. According to the source, the data are estimates from the International Labour Organization, an agency of the United Nations developing policies to set labor standards. Employment in Nigeria The youth unemployment rate refers to the percentage of the unemployed in the age group of 15 to 24 years as compared to the total labor force. Youth unemployment rates are often higher than overall unemployment rates, which is true in Nigeria as well: the general rate of unemployment was approximately six percent in 2018. One reason for this contrast is that many of the youth under age 24 are studying full-time and are unavailable for work due to this. Education in Nigeria Nigeria’s population has a large percentage of young inhabitants, and there is a high demand for educational opportunities for its young populace. After severe cuts in governmental aid following a nationwide recession in 2016, Nigeria’s underfunded higher education system became the focus of ongoing student protests and strikes. Other families have taken a different approach: Nigeria is the top country of origin for international students from the continent of Africa. For example, Nigeria sent over 12,600 students to the U.S. in 2017/18, the most of any African country.

Nigeria Unemployment Rate: ILO: 25 to 34 Years data was reported at 9.834 % in Sep 2017. This records an increase from the previous number of 8.426 % for Jun 2017. Nigeria Unemployment Rate: ILO: 25 to 34 Years data is updated quarterly, averaging 7.100 % from Mar 2014 (Median) to Sep 2017, with 15 observations. The data reached an all-time high of 9.834 % in Sep 2017 and a record low of 2.354 % in Dec 2014. Nigeria Unemployment Rate: ILO: 25 to 34 Years data remains active status in CEIC and is reported by National Bureau of Statistics of the Federal Republic of Nigeria. The data is categorized under Global Database’s Nigeria – Table NG.G003: Unemployment Rate: New Methodology.

Unemployment Rate by state 2017 - 2018, Source: Nigeria Bureau of Statistics, 2018, https://nigerianstat.gov.ng/resource/Unemplyment%20Data%20Series%20by%20State%20-%20Revised%20-%2015%20Apr%202019Latest%20v2.xlsx

Nigeria Unemployment Rate: 55 to 64 Years data was reported at 2.000 % in Jun 2024. This records an increase from the previous number of 1.500 % for Mar 2024. Nigeria Unemployment Rate: 55 to 64 Years data is updated quarterly, averaging 1.900 % from Dec 2022 (Median) to Jun 2024, with 7 observations. The data reached an all-time high of 2.100 % in Dec 2023 and a record low of 1.500 % in Mar 2024. Nigeria Unemployment Rate: 55 to 64 Years data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s Nigeria – Table NG.G003: Unemployment Rate: New Methodology.

Nigeria Unemployment Rate: Male data was reported at 3.400 % in Jun 2024. This records a decrease from the previous number of 4.300 % for Mar 2024. Nigeria Unemployment Rate: Male data is updated quarterly, averaging 4.000 % from Dec 2022 (Median) to Jun 2024, with 7 observations. The data reached an all-time high of 4.700 % in Dec 2023 and a record low of 3.100 % in Mar 2023. Nigeria Unemployment Rate: Male data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s Nigeria – Table NG.G003: Unemployment Rate: New Methodology.

Employment Rate in Nigeria increased to 76.10 percent in the second quarter of 2024 from 73.20 percent in the first quarter of 2024. This dataset provides - Nigeria Employment Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria Unemployment Rate: 35 to 44 Years data was reported at 2.600 % in Jun 2024. This records a decrease from the previous number of 3.700 % for Mar 2024. Nigeria Unemployment Rate: 35 to 44 Years data is updated quarterly, averaging 2.900 % from Dec 2022 (Median) to Jun 2024, with 7 observations. The data reached an all-time high of 3.700 % in Mar 2024 and a record low of 2.400 % in Mar 2023. Nigeria Unemployment Rate: 35 to 44 Years data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s Nigeria – Table NG.G003: Unemployment Rate: New Methodology.

In 2022, the unemployment rate in Nigeria is estimated to reach ** percent. This figure was projected to at **** percent in the preceding year.

Chronological data show that the unemployment rate in Nigeria rose constantly in the past years. In the fourth quarter of 2020, over ** percent of the labor force was unemployed, according to the Nigerian methodology.

Nigeria Unemployment Rate: Rural data was reported at 2.800 % in Jun 2024. This records a decrease from the previous number of 4.300 % for Mar 2024. Nigeria Unemployment Rate: Rural data is updated quarterly, averaging 3.500 % from Dec 2022 (Median) to Jun 2024, with 7 observations. The data reached an all-time high of 4.300 % in Mar 2024 and a record low of 2.500 % in Jun 2023. Nigeria Unemployment Rate: Rural data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s Nigeria – Table NG.G003: Unemployment Rate: New Methodology.

Inflation Rate in Nigeria decreased to 16.05 percent in October from 18.02 percent in September of 2025. This dataset provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria Unemployment Rate: ILO: 55 to 64 Years data was reported at 6.123 % in Sep 2017. This records an increase from the previous number of 5.157 % for Jun 2017. Nigeria Unemployment Rate: ILO: 55 to 64 Years data is updated quarterly, averaging 4.400 % from Mar 2014 (Median) to Sep 2017, with 15 observations. The data reached an all-time high of 6.123 % in Sep 2017 and a record low of 1.409 % in Dec 2014. Nigeria Unemployment Rate: ILO: 55 to 64 Years data remains active status in CEIC and is reported by National Bureau of Statistics of the Federal Republic of Nigeria. The data is categorized under Global Database’s Nigeria – Table NG.G003: Unemployment Rate: New Methodology.

Nigeria Unemployed: ILO: Urban data was reported at 17.001 % in Sep 2017. This records an increase from the previous number of 14.578 % for Jun 2017. Nigeria Unemployed: ILO: Urban data is updated quarterly, averaging 12.000 % from Mar 2014 (Median) to Sep 2017, with 15 observations. The data reached an all-time high of 17.001 % in Sep 2017 and a record low of 4.076 % in Dec 2014. Nigeria Unemployed: ILO: Urban data remains active status in CEIC and is reported by National Bureau of Statistics of the Federal Republic of Nigeria. The data is categorized under Global Database’s Nigeria – Table NG.G003: Unemployment Rate: New Methodology.

Nigeria Unemployment Rate: 25 to 34 Years data was reported at 6.500 % in Jun 2024. This records a decrease from the previous number of 7.500 % for Mar 2024. Nigeria Unemployment Rate: 25 to 34 Years data is updated quarterly, averaging 6.600 % from Dec 2022 (Median) to Jun 2024, with 7 observations. The data reached an all-time high of 8.000 % in Dec 2023 and a record low of 4.700 % in Jun 2023. Nigeria Unemployment Rate: 25 to 34 Years data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s Nigeria – Table NG.G003: Unemployment Rate: New Methodology.

Nigeria’s inflation has been higher than the average for African and Sub-Saharan countries for years now, and even exceeded 16 percent in 2017 – and a real, significant decrease is nowhere in sight. The bigger problem is its unsteadiness, however: An inflation rate that is bouncing all over the place, like this one, is usually a sign of a struggling economy, causing prices to fluctuate, and unemployment and poverty to increase. Nigeria’s economy - a so-called “mixed economy”, which means the market economy is at least in part regulated by the state – is not entirely in bad shape, though. More than half of its GDP is generated by the services sector, namely telecommunications and finances, and the country derives a significant share of its state revenues from oil. Because it got highTo simplify: When the inflation rate rises, so do prices, and consequently banks raise their interest rates as well to cope and maintain their profit margin. Higher interest rates often cause unemployment to rise. In certain scenarios, rising prices can also mean more panicky spending and consumption among end users, causing debt and poverty. The extreme version of this is called hyperinflation: A rapid increase of prices that is out of control and leads to bankruptcies en masse, devaluation of money and subsequently a currency reform, among other things. But does that mean that low inflation is better? Maybe, but only to a certain degree; the ECB, for example, aspires to maintain an inflation rate of about two percent so as to keep the economy stable. As soon as we reach deflation territory, however, things are starting to look grim again. The best course is a stable inflation rate, to avoid uncertainty and rash actions. Nigeria todayNigeria is one of the countries with the largest populations worldwide and also the largest economy in Africa, with its economy growing rapidly after a slump in the aforementioned year 2017. It is slated to be one of the countries with the highest economic growth over the next few decades. Demographic key indicators, like infant mortality rate, fertility rate, and the median age of the population, all point towards a bright future. Additionally, the country seems to make big leaps forward in manufacturing and technological developments, and boasts huge natural resources, including natural gas. All in all, Nigeria and its inflation seem to be on the upswing – or on the path to stabilization, as it were.