The Nigerian economy generated 475,180 jobs in the third quarter of the year (Q3 2015), according to the National Bureau of Statistics (NBS). This represented a significant increase of 236.1 per cent or 333,812 additional jobs when compared with the previous quarter and 36 per cent or 125,837 additional jobs when compared to the third quarter of 2014.
According to the Employment Creation Survey for Q3 2015, which was posted on its website yesterday, the increase in the number of jobs in the third quarter was driven mainly by informal sector jobs, which accounted for 90.2 per cent (428,690) of total jobs. This was followed by formal sector jobs, which represented 8.8 per cent (41,672) of jobs in the quarter, while the public sector generated 4,818 jobs, representing 1.01 per cent of jobs in the quarter under review.
According to the statistical agency, the jobs generated in the informal sector in Q3 2015 which accounted for over 90 per cent of total jobs in Q3 were predominantly in rural agricultural activities. Read more