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 Dipo Olowookere
The Nigerian Exchange (NGX) Limited suffered a 0.94 per cent loss on Monday, April 27, 2026, which marked the commencement of an extended market session.
A few weeks ago, it was announced that trading activities on Customs Street would now be from 9:00 am to 4:00 pm instead of the usual 9:30 am to 2:30 pm.
This action was taken to allow market participants more time to explore the bourse and further make it robust, especially after the restoration of Nigeria’s frontier market status by FTSE Russell.
The NGX came under selling pressure, which resulted in 35 equities finishing on the gainers’ chart and 40 equities ending on the losers’ table, indicating a negative market breadth index and weak investor sentiment.
Trans-Nationwide Express, First Holdco, and UBA were the worst-performing equities after giving up 10.00 per cent each to trade at N7.11, N67.50, and N49.50, respectively. Access Holdings depreciated by 9.90 per cent to N28.20, and Fidelity Bank crashed by 9.87 per cent to N20.10.
The best-performing equity for the session was Abbey Mortgage Bank, which gained 9.26 per cent to N5.90, Zichis went up by 8.91 per cent to N16.99, Wema Bank expanded by 8.80 per cent to N34.00, NPF Microfinance Bank soared by 8.19 per cent to N5.68, and Coronation Insurance grew by 7.27 per cent to N2.66.
It was observed that the profit-taking was mainly from banking stocks, as the index shed 6.49 per cent. The consumer goods sector lost 0.41 per cent, and the energy counter depreciated by 0.24 per cent.
However, the industrial goods space improved by 0.85 per cent, and the insurance segment appreciated by 0.15 per cent.
But at the close of business, the All-Share Index (ASI) slipped by 2,120.20 points to 223,602.29 points from 225,722.49 points, and the market capitalisation shrank by N1.365 trillion to N143.970 trillion from N145.335 trillion.
A total of 678.2 million shares worth N44.1 billion were traded in 82,838 deals on Monday compared with 627.6 million shares valued at 44.5 billion transacted in 55,232 deals last Friday, representing a drop in the trading value by 0.90 per cent, and a surge in the trading volume and number of deals by 8.06 per cent and 49.98 per cent, respectively.
Zenith Bank was at the zenith of the activity chart yesterday with 76.1 million units sold for N9.5 billion. Wema Bank traded 49.9 million units worth N1.7 billion, Access Holdings exchanged 39.1 million units valued at N1.1 billion, Tantalizers transacted 30.0 million units worth N113.9 million, and AIICO Insurance traded 28.3 million units valued at N118.3 million.
By Adedapo Adesanya
Nigeria has ramped up efforts to secure its oil-rich waters and curb maritime crime, deploying significant naval assets under Exercise Obangame Express 2026 to protect critical energy infrastructure and trade routes in the Gulf of Guinea.
Flagging off the exercise in Onne, Rivers State, the Chief of Naval Staff, Vice Admiral Idi Abbas, said the exercise is central to safeguarding economic assets and sustaining investor confidence in Nigeria’s maritime domain.
“The safer maritime environment has enhanced investor confidence, increased shipping activities and supports the Federal Government’s drive towards a sustainable blue economy,” he said in a statement.
The multinational exercise, coordinated with the United States Africa Command, focuses on combating oil theft, piracy, illegal trafficking and other threats that directly impact Nigeria’s oil revenues and regional trade flows.
The focus on maritime security comes amid persistent concerns over crude oil theft and supply chain disruptions, which continue to undermine Nigeria’s production capacity.
Mr Abbas emphasised that coordinated regional efforts remain the most effective response to evolving threats.
“OBANGAME EXPRESS provides a unique opportunity for participating nations to train together, operate together and build the trust necessary for real-time coordination,” he said.
He added that no country can independently secure its maritime domain, stressing the need for sustained partnerships to protect the Gulf’s strategic energy corridor.
Also, the Commander, Eastern Naval Command, Rear Admiral CD Okehie, said the operation reflects a strategic shift toward protecting high-value maritime assets.
“The Gulf of Guinea serves as a major global sea lane of commerce, making it indispensable not only to regional economies but also to international trade,” he noted.
According to him, the Navy’s deployment of 10 ships, helicopters and special forces is designed to strengthen surveillance, interdiction and rapid response capabilities.
With Nigeria’s offshore assets and export routes forming a backbone of national revenue, the exercise signals a renewed push to tighten security, reduce losses and stabilise the broader oil and gas ecosystem.
By Aduragbemi Omiyale
When shareholders of Nigerian Breweries Plc gathered at the company’s 80th Annual General Meeting (AGM) in Lagos, on Wednesday, April 22, 2026, one thing they were sure was not on the agenda was the approval of a dividend for the 2025 financial year.
This was because the board did not propose the payment of a cash reward to investors for the fiscal year for some reasons, which were explained at the meeting.
The chairman of the organisation, Ms Juliet Anammah, told shareholders that the dividend payout was skipped to rebuild retained earnings impacted by prior macroeconomic shocks, particularly foreign exchange-related losses.
“We recognise the importance of dividend payments to our shareholders and sincerely appreciate your continued understanding.
“While we are not declaring a dividend at this time due to negative retained earnings, we are working diligently to restore the company’s financial position and return to dividend payments as soon as it is sustainable to do so,” she explained.
Ms Anammah noted that the board remains vigilant to external risks, including the Middle East crisis and broader macroeconomic challenges, which may impact the pace of improvement in the 2026 financial year.
She thanked shareholders for their continued support and reaffirmed that the company will build on its 2025 performance as it accelerates growth ambitions.
“We have a solid foundation built over eight decades, anchored on a strong portfolio of brands, an extensive nationwide sales and supply chain network, ongoing digital transformation, and most importantly, our people. These strengths remain critical to sustaining our leadership position,” she said.
Despite the non-payment of cash reward for the year, shareholders applauded Nigerian Breweries for strong recovery and improved profitability in the 2025 financial year, driven by disciplined cost management and a significant reduction in finance expenses.
One of them, Mr Eke Emmanuel, who is the immediate past Secretary of the Independent Shareholders Association of Nigeria, praised the board and management for steering the company through a volatile macroeconomic environment while strengthening its financial position, noting that the company’s resilience, at a time when several businesses exited the country, reflects strong leadership and a sound strategic direction.
“It is good news that we have been here for 80 years. There is no reason why we will not be here for the next 80 years with what we have achieved. To return to this level of profitability and cash position shows the Board has done an enormous amount of work,” he said.
Another shareholder, Mr Owolabi Opeyemi of the Noble Shareholders Association, confessed that, “We are proud of how the company has withstood the ups and downs of a challenging environment. The return to profitability and the reversal of the negative cash position recorded in the previous two financial years is commendable.”
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