Over 4 million Nigerians lost their jobs since Buhari became president
Since President Muhammadu Buhari began to preside over the Nigerian economy in 2015, no fewer than four million Nigerians have lost their jobs.
A report from the Nigerian Bureau of Statistics, NBS, says 2.6 million Nigerians lost their job in the first half of year 2016.
According to the report, about 2 million Nigerians became unemployed in the second half of 2015.
Altogether, 4,580, 606 persons have joined the unemployed ranks since Buhari became president.
“The economically active population or working age population (persons within ages 15 and 64) increased from 106.00 million in Q1 2016 to 106.69 million in Q2 2016, this represents a 0.65% increase over the previous quarter and a 3.02% increase when compared to Q2 2014.
“In Q2 2016, the labour force population (i.e those within the working age population willing, able and actively looking for work) increased to 79.9 million from 78.5 million in Q1 2016, representing an increase of 1.78% in the labour force during the quarter. This means 1.39 million persons from the economically active population entered the labour force, that is individuals that were able, willing and actively looking for work.
“This magnitude of this increase between Q1 and Q2 2016 is smaller when compared to Q4 2015 and Q1 2016, which was an increase of 1.59m in the Labour force population.
“Within the reference period, the total number of person in full time employment (did any form of work for at least 40hours) decreased by 351,350 or 0.65% when compared to the previous quarter, and also decreased by 749,414 or 1.38% when compared to Q2 of 2015.
