Connect with us

Economy

Nigeria’s Unemployment Rate Will Rise Further- Peter Obi Warns

According to Mr. Peter Obi, the high level of insecurity and the social vices associated with youths as well as inflation and high unemployment rate will drastically be reduced if youths are productively engaged.

Published

on

Peter Obi

The Presidential candidate of the Labour Party at the 2023 presidential election Peter Obi has warned that the country’s unemployment rate will further rise in the coming months from 33.3% to 40.6%, News About Nigeria reports.

Issuing this warning in a statement made available on his social media page, Mr Obi suggested that the country’s challenges will be over if the government paid attention to youth development and productivity.

According to Mr Obi, the high level of insecurity and the social vices associated with youths as well as inflation and high unemployment rate will drastically be reduced if youths are productively engaged.

“As I have always maintained, many of the nation’s challenges will be overcome if the leaders pay attention to youth development and productivity. The high level of insecurity and the social vices associated with youths, like drug and other substance abuse as well as the high inflation rate in the country, as well as the high unemployment rate among the youthful population in their productive ages, will be whittled down if we build a better economy, with our youth productively engaged,” Mr. Obi wrote.

“According to reports, Nigeria tops in the ranking of countries with the highest rate of unemployment in the world, with a 33.3% unemployment rate. And further findings show that Nigeria’s unemployment rate would further rise to 40.6%, showing that more than half of the population in their productive age are not working. As a result, the nation will continue to stagger under the weight of many economic and social challenges. By providing a conducive economic environment and supporting the growth of small businesses in the country, the nation will rise above many of its challenges,” he added.

Advertisement