Jobs/Appointments
Nigeria’s Unemployment Rate Hits 4.2% in Q2 2023
By Adedapo Adesanya
Nigeria’s unemployment rate increased to 4.2 per cent in Q2 2023 from the 4.1 per cent recorded in Q1 2023, according to the National Bureau of Statistics (NBS).
The NBS said this in its Nigeria Labour Force Survey for Q2 2023, released on Thursday.
Recall that the NBS on April 20, 2023, made adjustments to how the labour force figures would be calculated moving forward. The agency adopted global standards as its new method and this crashed the rate from a high of 33.3 per cent released in 2020.
According to the new measures, the unemployment rate is defined as the share of the labour force who are not employed but who are actively searching and available for work.
The bureau said the unemployment rate among youth aged (15-24 years) in Q2 2023 was 7.2 per cent compared to the 6.9 per cent recorded in Q1 2023, adding that the unemployment rate among men was 3.5 per cent and 5.9 per cent among women in Q2 2023.
The unemployment rate in urban areas was 5.9 per cent in Q2 2023, which was an increase from the 5.4 per cent recorded in Q1 2023.
Meanwhile, the unemployment rate in rural areas was 2.5 per cent in Q2 2023, which was a decline from the 2.9 per cent recorded in Q1 2023.
In terms of educational attainment, the report said the rate of unemployment among persons with post-secondary education was 8.0 per cent in Q2 2023.
“Those with upper secondary education was 5.4 per cent, while those with lower secondary education was 3.7 per cent, 3.0 per cent for those with primary education and 2.5 per cent for those with no formal education,” it stated.
The NBS also said time-related underemployment in Q2 2023 was 11.8 per cent compared to 12.2 per cent recorded in Q1 2023.
It said time-related underemployment rate was the share of employed people who were working less than 40 hours per week, but who would be willing and available to work more.
The share of employed men that were underemployed was 8.4 per cent while the share of employed women that were underemployed was 15.3 per cent in Q2 2023.
The underemployment rate was 10.3 per cent in urban areas and 13.2 per cent in rural areas.
The NBS said the share of employed persons aged 15 to 24 years that were underemployed was 19.3 per cent.
The report said the combined rate of unemployment and time-related underemployment as a share of the labour force population (LU2) was 15.5 per cent in Q2 2023.
The NBS said the labour force participation rate among the working-age population in Nigeria was 80 per cent in Q2 2023 compared to 79.9 recorded in Q1 2023.
The report said the participation rate among men was 82.1 per cent while for women it was 78.8 per cent. The participation rate was 78.4 per cent in urban areas and 82.6 per cent in rural areas in Q2 2023.
According to the report, the employment-to-population ratio, which was the proportion of the working-age population that was employed was 77.1 per cent in Q2 2023.
The report said the employment-to-population ratio for men and women was 79.3 per cent and 74.9 per cent, respectively.
The employment-to-population ratio in urban areas was 73.8 per cent compared to 80.5 per cent in rural areas in Q2 2023.
The report said 88.0 per cent of employed Nigerians were primarily self-employed with the remaining 12.0 per cent engaged as employees(wage employment) in Q2 2023.
It said 85.2 per cent of employed men were self-employed, while 91.0 per cent of employed women were self-employed.
“While men and women engaged as employees(wage employment) was reported at 14.8 per cent and 9.0 per cent, respectively,” the report showed.
The report said 8.0 per cent of the working-age population were in subsistence agriculture.
The NBS said the informal employment rate in Q2 2023 was 92.7 per cent.
It said in Q2 2023, the percentage of youth (15-24 years) identified as Young Persons Not in Employment, Education or Training (NEET) was 13.8 per cent.
“This is an increase from the 12.1 per cent and 10.0 per cent recorded in Q4 2022 and Q1 2023, respectively,” the NBS said.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has clarified that the viral report suggesting that it is currently employing new staff is the “handiwork of fake recruitment syndicates established to mastermind fraudulent activities.”
In a Monday statement posted on its official X handle, NMDPRA expressed that it was compelled to publish the disclaimer to alert the public against such activities due to what it described as “exploiting young economically vulnerable and unsuspecting Nigerians perhaps into parting with huge sums of money for purported employment opportunities into the authority.”
“They do this by issuing bogus “Letters of Employment” and empty promises, as well as offering non-existent positions. These may well be the handiwork of fake recruitment syndicates established to mastermind these fraudulent activities.
“We wish to use this opportunity to state categorically that the NMDPRA is NOT conducting any recruitment exercise currently. Neither is the Agency undertaking any kind of employment in its services at any level. For the avoidance of doubt, any future recruitment exercise would be undertaken in accordance with extant rules guiding such exercises in the Nigerian Public Service,” the organisation emphasised.
The agency further advised the public to disregard these fake employment advertisements and urged them to visit its official website and social media pages to verify any recruitment claims.
The statement added, “In this regard therefore, we would like to advise the public and all Nigerians to ignore these spurious claims by unscrupulous people whose only objective is to defraud Nigerians and cast aspersion on the authority.
“We further advise that for current and up to date information regarding all our activities, kindly refer to our official corporate website: www.nmdpra.gov.ng as well as all our verified online social media outlets (i.e. Facebook, Linkedln and Instagram) for authentic information.”
By Adedapo Adesanya
Aradel Holdings Plc has appointed Ms Nnoli Akpedeye as an Independent Non-Executive Director, effective February 2, 2026, following a resolution passed at the company’s board meeting held on January 28, 2026.
In a notice to shareholders, Nigerian Exchange (NGX) Limited, and the investing public, the company disclosed that the appointment is subject to ratification by shareholders at its next Annual General Meeting (AGM). The board also authorised the Company Secretary, Mrs Titiola Omisore, to notify relevant regulators and take all necessary steps to give effect to the decision.
Ms Akpedeye brings more than 36 years of multi-disciplinary experience spanning oil and gas, engineering, legal and arbitration services, and management consulting. Her career reflects a strong blend of technical expertise and strategic leadership, with competencies in management and strategy, business process engineering, organisational development and change management, as well as entrepreneurship development.
Until 2014, she served as Technical Planning Manager for Shell Exploration and Production Companies in Nigeria, where she led the execution of high-impact, mission-critical projects. Over the course of her career at Shell, she held roles across civil engineering design, planning and construction, project management, facility management, technical audit, and business planning and strategy, gaining extensive local and international exposure.
Beyond her corporate career, Ms Akpedeye is an entrepreneur and advocate for capacity building in engineering and energy. She runs Contego Servo Limited and Perfectus Laundi Limited, and in 2013, she launched the “Introduce a Girl to Engineering” programme aimed at encouraging secondary school girls in Nigeria to pursue careers in engineering and related STEM fields.
She is a Council for the Regulation of Engineering in Nigeria (COREN)-registered engineer, a Fellow of the Nigerian Society of Engineers (FNSE), and a past President of the Association of Professional Women Engineers of Nigeria (APWEN). She is also a founding member of the Women in Energy Network (WIEN) and serves as a passionate ambassador for science, technology, engineering and mathematics education.
In addition, Ms Akpedeye is the Chief Operating Officer (COO) of Compos Mentis Legal Practitioners and the Chairman of the Board of Trustees of the Compos Mentis Foundation.
Her appointment further strengthens Aradel Holdings’ board with deep industry knowledge, governance experience, and a strong track record in leadership and institutional development, as the company continues to pursue its strategic objectives within Nigeria’s energy landscape.
By Aduragbemi Omiyale
An interim chief executive has been appointed by Geregu Power Plc and he is Mr Sean Manley, with his appointment to take effect from Monday, February 2, 2026.
A statement from the power generating firm disclosed that his appointment is subject to the approval of the Nigerian Electricity Regulatory Commission (NERC) and the shareholders of the company at the next general meeting.
In the notice, the organisation expressed confidence that the appointee would use his wealth of experience and leadership to “add significant value to the company.”
Mr Manley is said to be “a seasoned power-sector professional with a proven track record in delivering complex energy projects in developing markets.”
He is armed with more than 30 years’ experience spanning sales, business development, project implementation, supply-chain management, and OEM-led delivery within the power sector.
Over the course of his career with Siemens, Mr Manley has developed deep technical and operational expertise in thermal power generation, covering plant construction, commissioning, major overhauls, and long-term operational support.
He is widely regarded as a practical problem-solver, with a demonstrated ability to close projects in challenging operating environments and brings extensive international experience and strong intercultural skills acquired across multi-jurisdictional engagements.
His areas of expertise include the delivery of large, complex infrastructure projects, management of multi-million-dollar business units, client and stakeholder relationship management, business and market development, as well as logistics and procurement analysis critical to successful project execution.
The appointment of Mr Manley comes after Mr Femi Otedola divested his stake in the energy firm last month to support the recapitalisation of First Bank of Nigeria, a subsidiary of FBN Holdings Plc, which he chairs.
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