Economy
50.5% of Nigerian Children Engage in Economic Activities—NBS
By Adedapo Adesanya
Data has shown that 50.5 per cent of Nigerian children, aged between 5 and 17, are engaged in some form of economic activities.
This was disclosed by the National Bureau of Statistics (NBS) in its report titled Nigeria Child Labour and Forced Labour Survey 2022 released on Thursday.
Child Labour, according to the bureau, refers to work for which children are either too young or that may be physically or psychologically injurious to their health and well-being.
“50.5 per cent ( 31,756.302) of all children aged 5 – 17 years old in Nigeria are engaged in economic activity,” the NBS said.
The report said 39.2 per cent of children (24, 673, 485) are in child labour and 22.9 per cent of children (14,390,353) are involved in hazardous work.
According to the report, the North-west geopolitical zone had the highest number of children in child labour (6,407,102) and in hazardous work (3,266,728).
However, in terms of the percentage of children in child labour and hazardous work, the NBS said the South-east region has the highest prevalence of children involved in child labour at 49.9 per cent.
“In the 5-17 age group, nearly 94 per cent of children in child labour are involved in own-use production of goods (including collection of firewood and fetching water), 24 per cent are in employment and 11 per cent perform unpaid trainee work,” the report said.
It said children aged 5-14 years old in child labour are less likely to be in employment and more likely to be engaged in own-use production of goods than children aged 15-17 years old in child labour.
It explained that almost 96 per cent of children in child labour who live in rural areas are engaged in own-use production of goods and nearly 26 per cent are in employment compared to 89 per cent and 20 per cent respectively of children in child labour who live in urban areas.
It added that in the 5 -17 age group, children in child labour spend an average of 14.6 hours per week working, while older children in child labour spend more time per week at work than younger children.
The NBS data said children aged 15 – 17 years old in child labour spend an average of 24.6 hours per week working compared to 19.4 hours for children aged 12 – 14 years old and 9.8 hours for children aged 5 – 11 years old.
“Children in child labour who live in rural areas spend 2.3 more hours working on average than children in child labour who live in urban areas. Boys in child labour spend more time working per week on average than girls in child labour,” it said.
However, the NBS noted that these estimates do not include time spent performing household chores.
The bureau said employment is the most time-intensive form of work on average for children in child labour with children spending on average 16 hours per week.
“Time-intensity in employment and unpaid trainee work is substantially higher in urban areas than the national average. Children in child labour are less likely to attend school than those not in child labour,” it said.
The report added that in the 5-17 age group, 53.3 per cent of children in child labour have been exposed to at least one workplace hazard.
“Children in child labour who live in rural areas are more likely to be exposed to workplace hazards than those who live in urban areas.
“16.3 per cent of children in child labour have experienced a work-related injury. Boys in child labour are more likely to have experienced a work-related injury than girls in child labour,” it said.
The bureau further explained that girls are more likely to be engaged in household chores than boys.
“62.2 per cent of girls performing household chores compared to 50.8 per cent of boys. Children are often engaged in household chores in addition to work in economic activities. 73.1 per cent of children are both in child labour and household chores,” it said.
The report added that in the 5-14 age group, 77.6 per cent of children attend school while 46.5 per cent are working and 11.2 per cent are exclusively working.
“Children in the urban areas are substantially less likely to be working only and more likely to attend school only than their rural counterparts. There are few differences between boys and girls.
“In the 5-17 age group, more than two-thirds of children are working and 21.9 per cent are exclusively working. Children living in rural areas are 12 percentage points more likely to be working and 17 percentage points less likely to attend school than children living in urban areas,” the report said.
By Modupe Gbadeyanka
Nigerian businessman, Mr Aliko Dangote, has increased his investment in Ethiopia to over $4 billion from $2.5 billion.
During a high-profile visit hosted by Prime Minister Abiy Ahmed, the business mogul informed newsmen in Gode, in Ethiopia’s Somali region, that the expanded scope includes critical infrastructure such as a 110-kilometre pipeline, a 120MW power plant, a polypropylene packaging facility, and a two-million-tonne NPK blending plant, among other new components.
The richest man in Africa described Ethiopia as a key strategic destination for Dangote Group’s long-term investments.
“In total, our declared and signed investments in Ethiopia now exceed $4 billion. This makes Ethiopia the second-largest recipient of our investments in Africa, accounting for nearly nine per cent of our continental outlay between now and 2030,” he said.
He also reaffirmed his commitment to boosting food security across Africa through large-scale fertiliser investments, declaring that the continent has the capacity to feed itself and become a net exporter of agricultural products.
Speaking on the strategic importance of fertiliser in agricultural productivity, Mr Dangote noted that Africa’s food insecurity challenges are largely due to limited access to key inputs.
Africa holds immense agricultural potential, yet continues to grapple with food insecurity due to limited access to fertiliser. Through our investments, we are committed to reversing this trend by boosting productivity, empowering farmers, and advancing a sustainable path to food self-sufficiency,” he stated as he was accompanied to inspect the site of the proposed fertiliser plant, where construction activities are already underway.
He added that his organisation’s ambition, though bold, is achievable with sustained investment in fertiliser production and agricultural infrastructure.
“Africa has the capacity to feed itself and even export to the rest of the world. Our fertiliser investments across the continent are designed to unlock that potential and secure a prosperous future for our people,” Mr Dangote noted.
He further commended Prime Minister Abiy Ahmed’s leadership and vision for economic transformation, saying he is “driving development beyond expectations, but such progress requires strong private sector collaboration. We are proud to partner with Ethiopia to help build one of Africa’s most dynamic economies in the coming decade.”
In his remarks, Mr Ahmed described his guest as a trusted partner and commended the pace of work on the fertiliser project, which he said aligns with Ethiopia’s broader development priorities.
He emphasised that the project would significantly boost domestic fertiliser production, reduce dependence on imports, and provide critical support to millions of Ethiopian farmers.
According to the Prime Minister, the fertiliser plant will also create extensive employment opportunities, strengthen the industrial value chain, and reinforce Ethiopia’s position as an emerging agro-industrial hub in Africa.
“This type of large-scale investment demonstrates the power of strong collaboration between government and the private sector,” he said. “Expanding such partnerships will accelerate economic growth, attract further investment, and improve the livelihoods of our people.”
The Dangote fertiliser initiative is widely seen as a transformative step toward reshaping Africa’s agricultural landscape, with the potential to enhance productivity, reduce import dependence, and drive inclusive economic growth across the continent.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed higher by 1.41 per cent on Friday, May 15, supported by four securities on the platform.
During the session, FrieslandCampina Wamco Plc added N14.24 to its share price to sell for N159.00 per unit, in contrast to the previous day’s N144.76 per unit.
Further, Central Securities and Clearing System (CSCS) Plc appreciated by N1.34 to N72.34 per share from N71.00 per share, Geo-Fluids Plc improved its price by 4 Kobo to N2.94 per unit from N2.90 per unit, and Industrial and General Insurance (IGI) Plc gained 1 Kobo to trade at 61 Kobo per share compared with Thursday’s closing price of 60 Kobo per share.
As a result, the NASD Unlisted Security Index (NSI) rose by 58.20 points to 4,188.41 points from 4,130.21 points, and the market capitalisation soared by N34.82 billion to N2.506 trillion from N2.471 trillion on Thursday.
During the session, the volume of trades went up by 180.8 per cent to 1.2 million units from 417,349 units, and the value of transactions increased by 29.8 per cent to N29.8 million from N23.2 million, while the number of deals fell by 22.6 per cent to 24 deals from 31 deals.
Great Nigeria Insurance (GNI) Plc ended the day as the most traded stock by value on a year-to-date basis with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 60.8 million units exchanged for N4.1 billion, and Okitipupa Plc with 27.9 million units valued at N1.9 billion.
GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis with 3.4 billion units worth N8.4 billion, followed by Resourcery Plc with 1.1 billion units transacted for N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
By Dipo Olowookere
The bears overpowered the Nigerian Exchange (NGX) Limited on Friday, sinking it further by 0.76 per cent when the closing gong was struck by 4 pm.
The nation’s flagship equity market was under selling pressure during the session, as investors booked profits after the shares witnessed price appreciation in the past trading sessions.
The energy sector was the most impacted, as it shed 4.43 per cent. The consumer goods index declined by 0.90 per cent, the banking counter decreased by 0.15 per cent, and the industrial goods sector lost 0.08 per cent, while the insurance counter gained 2.42 per cent, which was not enough to salvage the situation.
Consequently, the All-Share Index (ASI) contracted by 1,912.19 points to 250,330.92 points from 252,243.11 points, and the market capitalisation moderated by 1.225 trillion to N160.444 trillion from N161.669 trillion.
Zichis was the worst-performing stock for the session after it gave up 9.97 per cent to close at N29.43, FTN Cocoa slipped by 9.95 per cent to N8.96, The Initiates slumped by 9.90 per cent to N32.30, LivingTrust Mortgage Bank tumbled by 9.88 per cent to N3.83, and International Energy Insurance dropped 9.71 per cent to trade at N2.79.
The best-performing stock was ABC Transport, which grew by 10.00 per cent to N6.27. May and Baker also appreciated by 10.00 per cent to N47.30, SCOA Nigeria surged by 9.98 per cent to N33.05, Trans-Nationwide Express expanded by 9.97 per cent to N7.06, and DAAR Communications jumped 9.76 per cent to N2.25.
Yesterday, investors traded 1.1 billion shares worth N44.3 billion in 65,744 deals compared with the 1.0 billion shares valued at N41.6 billion transacted in 74,822 deals a day earlier. This indicated a dip in the number of deals by 12.13 per cent, and a rise in the trading volume and value by 10.00 per cent and 6.49 per cent, respectively.
Chams was the busiest equity for the day, with 328.5 million units sold for N1.1 billion. UBA traded 61.6 million units worth N2.7 billion, First Holdco transacted 58.7 million units valued at N4.2 billion, Secure Electronic Technology exchanged 51.9 million units worth N45.0 million, and Access Holdings traded 51.8 million units valued at N1.3 billion.
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