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NBS: Unemployment Rate Hits 23.1m In Q4’20

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Nigeria’s unemployment rate increased to 33.3 per cent in the fourth quarter of 2020 from 27.1 per cent recorded in first quarter of the same year, according to the latest unemployment data (Q4’20) obtained from the website of the National Bureau of Statistics (NBS) yesterday.

According to the unemployment report, it was gathered that 33.3 per cent of the labour force in Nigeria or 23,187,389 persons either did nothing or worked for less than 20 hours a week, making them unemployed by its definition in Nigeria. Given the latest unemployment rate, Nigeria ranked 11.7 per cent.

 

Comparing the rate globally, out of the 181 countries with rates published within the last two years, Nigeria currently ranked 41 with the highest unemployment rate.

Countries with highest unemployment rates presently, according to NBS’ findings, are Bosnia and Herzegovinian (34.3%),

 

Namibia (33.4%), and Angola (32.0%), while those with the lowest rates are Qatar (0.1%), Belarus (0.2%), Niger (0.3%) and Laos (0.6%). Nigeria, NBS said, experienced decrease in under-employment rate from 28.6 per cent to 22.8 per cent in the reference quarter.

 

The agency said it drew its findings from responses and interviews conducted across the 36 states and Federal Capital Territory (FCT) Abuja. It said a total number of 31,145 interviews were completed out of the initial sample of 33,300, giving a response rate of 93.53 per cent at the end of the survey.

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The NBS added: “During the reference period, the computed national unemployment rate rose from 27.1 per cent in Q2’20 to 33.3 per cent in Q4’20, while the underemployment rate decreased from 28.6 per cent to 22.8 per cent.

“A combination of both the unemployment and under-employment rate for the reference period gave a figure of 56.1 per cent. “This means that 33.3 per cent of the labour force in Nigeria or 23,187,389 persons either did nothing or worked for less than 20 hours a week, making them unemployed by our definition in Nigeria.

 

“This is an additional 1,422,772 persons from the number in that category in Q2’20. Using the international definition of unemployment, the rate was computed to be 17.5 per cent.”

 

While using aggregation of labour force, the report noted that the number of persons in the labour force (i.e., people within ages 15 -64, who are able and willing to work) was estimated to be 69,675,468.

 

This, it said, was 13.22 per cent less than the number of persons in Q2’20. Of this number, those within the age bracket of 25 to 34 were highest, with 20,091,695 or 28.34 per cent of the labour force.

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Obasanjo condemns call for Nigeria’s disintegration

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Former President Olusegun Obasanjo on Wednesday described calls for the disintegration of Nigeria as unmindful and insensitive to the plight of the minority groups in the country.

Obasanjo made the observation when he received the Tiv Professional Group (TPG) from Benue State, who paid him a courtesy visit in Abeokuta.

The former president recalled a discussion between him and “a military friend”  who, according to him, has described major tribes in the country as selfish and not sufficiently caring for the minority groups.

Obasanjo, who aligned with his friend’s opinion, expressed worry over what would become of the minority groups if the major tribes decided to secede and begin to operate as separate countries.

“If the Yoruba can stand as a country if the Igbos and the Hausa/Fulani can stand as separate countries, where do we want the minority groups to be?

“Now, by virtue of the present situation, they are a little bit protected, but if Nigeria breaks up, they will be oppressed and exterminated,” he said.

He recalled the meetings he had with a number of socio-cultural organizations in September 2020 and noted that nobody at such meeting talked about disintegration or breakup, saying that “all they clamored for was a change for good”.

The elder statesman stressed the need for Nigerian leaders to be mindful of the ethnic diversity of the Nigerian nation, adding that the country would not make any meaningful progress without such consideration.

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Obasanjo, who expressed hope that the rough times that Nigeria was going through would not last forever, urged Nigerians to be patient while the country gathered her goodwill and moved in the right direction.

The leader of the group, Prof. Zacharys Gundv, in a paper he presented to Obasanjo, highlighted the challenges of the nation, including insecurity, poverty religious intolerance, kidnappings, and banditry, among others.

He explained that the Tivs were worried about the skewed narrative of insecurity in Nigeria

Proffering a solution to Nigeria’s challenges, Gundv called on well-meaning Nigerians to be united in serving the country.

He called for intensified advocacy against nomadic pastoralism and an “All Nationalities Summit” to discuss and proffer solutions to Nigeria’s challenges.

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Buhari haunted by his coup plotting past- PDP

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What began as a rumour or idle talk – whispers of a putsch – yesterday gathered a life of its own as state actors kept giving life to the notion, which is turning and turning in the widening gyre.

First was the pledge by the military that it would not overthrow President Muhammadu Buhari, a former army general and head of state whose government has come under strident criticisms over growing insecurity in the country.

In a statement issued by Acting Director, Defence Information, Brigadier-General Onyema Nwachukwu, the military said it has no intention of taking over power again in Nigeria. This, it said, is because it believes that despite tough times, democracy is the way to go and militarism is no longer fashionable. The army also warned politicians nursing ambition of ruling Nigeria outside the ballot box, saying it would continue to defend the country’s democracy.

“We shall continue to remain apolitical, subordinate to the Civil Authority, firmly loyal to the President, Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, President Muhammadu Buhari and the 1999 Constitution as Amended. We shall continue to discharge our constitutional responsibilities professionally, especially in protecting the country’s democracy, defence of the territorial integrity of the country as well as protection of lives and properties of citizens,” the statement said in part.

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This statement was in reaction to agitation by some secessionist and opposition figures for a restructuring of the government, coming two days after the Department of State Services (DSS) also issued same warning.

Immediately after the army’s pledge of loyalty, the Presidency, yesterday, raised the alarm, warning of a subliminal plot by some past leaders working with foreigners to forcefully sack President Buhari from office. However, it did not provide names of the leaders and their cohorts.

The Presidency predicated its conclusion on what it described as ‘unimpeachable’ evidence made available to it by DSS operatives. It, however, warned of dire consequences of such plot, especially where the citizens have opted for democratic rule, saying the only accepted way to change a democratically elected government is through elections.

In a statement issued by Special Adviser on Media and Publicity, Femi Adesina, the Presidency said: “The Department of State Services (DSS), on Sunday alerted on sinister moves by misguided elements to wreak havoc on the government, sovereignty and corporate existence of the country.

“Championed by some disgruntled religious and past political leaders, the intention is to eventually throw the country into a tailspin, which would compel a forceful and undemocratic change of leadership.

“Further unimpeachable evidence shows that these disruptive elements are now recruiting the leadership of some ethnic groups and politicians round the country, with the intention of convening some sort of conference, where a vote of no confidence would be passed on the President, thus throwing the land into further turmoil.

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“The agent provocateurs hope to achieve through artifice and sleight of hands, what they failed to do through the ballot box in the 2019 elections. Nigerians have opted for democratic rule, and the only accepted way to change a democratically elected government is through elections, which hold at prescribed times in the country. Any other way is patently illegal, and even treasonable. Of course, such would attract the necessary consequences.”

In response to the salvo fired by the Presidency, the opposition Peoples Democratic Party (PDP) has described the allegation that some Nigerians were plotting a forceful and undemocratic change of leadership, as a resort to blackmail in the face of failure. The PDP, in a statement by its national publicity secretary, Kola Ologbondiyan, asked Buhari to look closely at his past before accusing it of plot to overthrow democratically elected government.

“Perhaps, the Presidency has forgotten that in 1983, Brigadier Muhammadu Buhari, as he was then known, led a military coup to truncate a democratically elected government thereby causing our nation a huge drawback on democratic governance.”

The PDP said rather than live up to the responsibilities of office by taking charge and securing the nation, “the Presidency is busy engaging in frivolous allegations against Nigerians.”

DESCRIBING the alarm as false and signs of a jittery administration pushing the panic button, a civil rights advocacy group, Human Rights Writers Association of Nigeria (HURIWA) has asked Buhari to quit immediately if the “kitchen has become too hot for him.”

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Bloomberg removes Bill Gates from billionaire list after divorce

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A few hours after announcing his divorce from wife, Melinda, Bloomberg has delisted one of the richest men in the world, Bill Gates, from its billionaire list index.

Gates had, on Monday, announced that he and Melinda who are the co-chair of the Bill and Melinda Gates Foundation, were splitting after 27 years of marriage.

“After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage,” the duo had shared on Twitter.

“Over the last 27 years, we have raised three incredible children and built a foundation that works all over the world to enable people to lead healthy lives,” they added .

Immediately after making the announcement, Bloomberg, an international media conglomerate that provides financial news and information, research, and financial data, yanked Gates off its top billionaires’ list where he usually sits in the top four spots.

On May 2, 2021, Gates was fourth on the index with a net worth of $145 billion, having gained over $13 billion in 2021 alone.

Gates became the youngest ‘American Billionaire’ in 1987 and has been on the Bloomberg’s list ever since.

He has also been a permanent fixture on the Forbes billionaire index, often making the real-time billionaire list

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Gates and Melinda got married in 1994, after he was already named the richest man in America.

The divorce is expected to affect their wealth, but the extent to which this will happen is yet to be known as Forbes is also expected to make its position known in due course.

By Isaac Dachen…

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