The Director-General of the Michael Imoudu National Institute for Labour Studies, Issa Aremu, says Nigeria’s official unemployment rate has fallen to about 5%.
He spoke on Arise TV’s Morning Show, describing the National Bureau of Statistics figure as a big improvement on the double-digit rates of earlier years. He says it shows more activity in both the public and private sectors.
Aremu linked part of the progress to modular refineries and to manufacturers sourcing more raw materials locally. However, he warned that lasting industrialisation needs steady electricity, and said states should deliberately push job creation.
He also praised the N758 billion bond used to clear pension debts dating back to 2007. According to him, the payment reached 957,045 beneficiaries.
Aremu, who is a member of the presidential campaign council, expects jobs, wages and pensions to shape the next election. He wants labour to keep pushing for a new minimum wage through negotiations.
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