The Nigerian Labour Congress (NLC) has described the drop in Nigeria’s unemployment rate released in a report by the National Bureau of Statistics on Monday as fiction, stressing that it contradicts reality.
The NLC’s position was corroborated by the Organised Private Sector, with the OPS stating that the report was not reflective of economic realities.
The NBS in its latest report stated that Nigeria’s unemployment rate declined to 4.3 per cent in the second quarter of 2024, signalling improved labour market conditions.
According to the report, this marks a decrease from the 5.3 per cent recorded in Q1 2024 and reflects a gradual recovery from the 5.0 per cent in Q3 2023.
The Labour Force Participation Rate rose to 79.5 per cent, up from 77.3 per cent in the previous quarter, highlighting increased workforce engagement.
The Employment-to-Population Ratio also showed significant improvement, climbing to 76.1 per cent in Q2 2024 from 73.2 per cent in Q1 2024.
This indicates that a higher proportion of the working-age population was gainfully employed during the period.
Also, self-employment remained dominant, accounting for 85.6 per cent of total employment, an increase from 84 per cent in the preceding quarter.
Informal employment also rose slightly to 93.0 per cent, highlighting the economy’s reliance on informal jobs.
Reacting to this, the National Assistant General Secretary of the Nigerian Labour Congress, Chris Onyeka, on Monday criticised the latest unemployment figures released by the National Bureau of Statistics, labelling the report as a “voodoo document” that fails to reflect the stark realities Nigerians face daily.
Onyeka dismissed the claim that unemployment is decreasing, calling it a “fabrication designed to mislead the public.”
He argued that the data was inconsistent with the deteriorating economic landscape characterized by factory closures, dwindling manufacturing activity, and rising inventories.
“Unemployment cannot be coming down in Nigeria when factories are closing shops,” Onyeka asserted.
“It cannot be coming down when there is increasing inventory and reduced consumer spending. If anything, unemployment is increasing,” he stated.
He further questioned the methodology behind the NBS report, describing it as a “figment of imagination concocted by people who want to manipulate figures.”
According to Onyeka, the lack of alignment between the data and visible realities on the ground undermines the credibility of the statistics agency.
“Once data does not reflect reality, it loses relevance. Unfortunately, the NBS has lost credibility as a result of the data they continue spewing out,” he stated.
Onyeka challenged the NBS to substantiate its claims by identifying the sectors supposedly generating jobs. “Where are the jobs coming from? Is it from employers who are complaining of consumer resistance and slowing economic activities? It doesn’t add up,” he remarked.
Citing the economic slowdown and widespread dissatisfaction among employers, Onyeka insisted that the report contradicts the lived experiences of Nigerians.
He likened the situation to what he described as “INEC-style manipulation,” a term he used to draw parallels between perceived shortcomings in Nigeria’s election management and the NBS figures.
“Nigerians can go to court if they don’t like the figures. But the truth remains: the NBS has become a failed institution, much like INEC in the eyes of the public,” Onyeka concluded.