Jobs/Appointments
Nigeria’s Unemployment Rate Jumps to 27.1% in Q2 2020
By Adedapo Adesanya
The National Bureau of Statistics (NBS) has disclosed that 27.1 per cent of Nigerians were without jobs during the coronavirus-induced lockdown months in the second quarter of the year.
The data would be the first released after almost two years when the country’s unemployment numbers stood at 23.1 per cent, signifying a 4 per cent rise in unemployment within the period.
In a report published on Friday titled Labour Force Statistics: Abridged Labour Force Survey Under COVID-19, the national statistics body noted that based on a survey, the unemployment rate among young people (15-34years) was 34.9 per cent, up from 29.7 per cent.
It added that the rate of underemployment (working between 20-29 hours per week) for the same age group rose to 28.2 per cent from 25.7 per cent in Q3, 2018, noting that these rates were the highest when compared to other age groupings.
It found out that the underemployment rate increased from 20.1 per cent in Q3, 2018 to 28.6 per cent. Combined with the unemployment, it means 55.7 per cent of the country’s labour force was either unemployed or underemployed in the period under review.
By states, Imo State reported the highest rate of unemployment with 48.7 per cent while the lowest rate was Anambra also in the South-East with 13.1 per cent.
For underemployment, the state which recorded the highest rate was Zamfara with 43.7 per cent, while Anambra State recorded the lowest underemployment rate, with 17 per cent in Q2 2020.
As a whole, the number of persons in the economically active or working-age population (15 – 64 years of age) during the reference period stood at 116.9 million. This is 1.2 per cent higher than the figure recorded in Q3, 2018, which was 115.5 million.
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 80.3 million, this was 11.3 per cent lesser than the number persons as of Q3, 2018.
The bureau indicated that of this number, those within the age bracket of 25-34 were highest, with 23.3 million Nigerians equivalent to 29.1 per cent of the labour force.
The total number of people in employment (i.e. people with jobs) during the reference period was dwellers which rose to 31.5 per cent in that period from the comparative 22.8 per cent.
The rate among urban dwellers rose to 23.2 per cent from 58.5 million. A breakdown shows that 35.6 million were full-time employed (worked 40+ hours per week), while 22.9 million were under-employed
Comparatively, this figure is 15.8 per cent lesser than the people in employment in as the third quarter of 2018.
By Adedapo Adesanya
Nigeria’s oil company, the Nigerian National Petroleum Company (NNPC) Limited, has appointed Mr Jean-Marc Cordier, a former Vice President of the Abu Dhabi National Oil Company (ADNOC), to head its oil trading business.
This was disclosed in a statement signed by Mr Garbadeen Muhammad, the Chief Corporate Communications Officer of the organisation, saying Mr Cordier joined as the Head of its oil trading arm, NNPC Trading Limited.
He said Mr Cordier’s appointment was in furtherance of the ongoing repositioning drive in the company toward improved growth, better performance and service delivery.
According to the company, the renowned international oil trader, a French/Swiss national, holds a Master’s degree in Corporate Finance with Distinction from Paris 9 University.
“[Mr] Cordier comes into the role with a rich background spanning over 30 years in physical oil, oil derivatives and risk management with significant experience in reorganizing and creating a trading business,” he said.
He spent 24 years with Elf Trading/Total Trading in various positions as Trader, Trading Desk Manager in Geneva and four years as the Global Trading Manager at Addax Energy in Geneva.
At ADNOC in Abu Dhabi, UAE, he served as Vice President, Middle Distillates, Senior Vice President of Risk Management, Senior Team Member in charge of building the trading activity for ADNOC and the launch of ADNOC Global Trading (AGT) in December 2020,” he said.
Mr Muhammad said that Cordier had since assumed duty.
Business Post understands that the French-Swiss national’s appointment has sparked outbursts from stakeholders who complained that it doesn’t align with the promises of the Petroleum Industry Act (PIA), which promises more Nigerian involvement in the country’s oil company.
While some argued that expatriates have always held posts in oil companies, others said NNPC should endeavour to promote the local content drive of the federal government.
By Modupe Gbadeyanka
An outsourced human resources (HR) management solution designed to accelerate the activities of small and medium enterprises (SMEs) in the country has been introduced by a leading talent management company in Nigeria, Jobrole Consulting Limited.
This plan, called Jobrole Flexi HR, will enable small business owners to navigate common HR challenges while focusing on core business operations.
It is an integrated human resources and business solution designed to meet the administrative needs of Nigerian small businesses and help them grow from sole proprietorships to flourishing organizations with select employees and clientele lists.
Jobrole Consulting is reputed for its wide-ranging human resources solution for high business performance, and this new package further cements its status in the industry.
The Director of Strategy and New Market at Jobrole Consulting, Mr Chigbo Okeke, informed newsmen that the Jobrole Flexi HR plan was to justify that people are a strategic resource for every business.
According to him, no matter how large or small a business is, there is always a need to use effective HR strategic planning techniques to manage the company’s resources and minimize human resources issues.
“We are excited to introduce Jobrole Flexi HR plan to the Nigerian SME market. This is an outsourced HR management solution that assists start-ups and other small-to-medium-sized businesses in reducing operational issues such as staff identity risks, recruitment turnaround time, hiring costs, and developing HR policies for your organization.
“These HR activities are vital business functions, strategic to the operational success of all businesses. We help our clients carry out these tasks and get them done without a hitch while they face their core business operations,” he said.
Mr Okeke added that, “Nigerian small businesses must prioritize building a comprehensive human resources programme into the company’s overall business strategy.”
This, he said, is critical to increasing their bottom line and capable of strengthening their organization’s competitive advantage.
Some Flexi HR deliverables include staff recruitment, onboarding and documentation, employee background checks, performance management, payroll management, and HR policy development.
He urged small business owners in Nigeria to take into account that the HR role is key to their operations, noting that with the changing nature of the work environment in recent years, it is now very clear that the role of HR is very significant for small and bigger businesses because the value one or a few employees add to the business’s performance is quite significant and immeasurable.
By Aduragbemi Omiyale
The former chief executive officer of the National Bureau of Statistics (NBS), Mr Yemi Kale, has joined a leading audit firm, KPMG Nigeria, as a partner and chief economist.
Mr Kale was also Nigeria’s Statistician General of the Federation between 2011 and 2021 and was very respected for how he projected the agency as a reputable stats agency.
In a post on Thursday, KPMG said Mr Kale would lead the company’s view on macroeconomics and enhance the breadth of our solutions involving economic modelling and macroeconomic analysis in private and public sector clients.
“The partners and staff of KPMG Nigeria are pleased to welcome Dr Oyeyemi Kale to our firm as he assumes the role of Partner and Chief Economist of KPMG Nigeria.
“Yemi holds a B.Sc. Honours degree in Economics (first class), Addis Ababa University, and an http://M.Sc. (Distinction) and PhD in Economics from The London School of Economics and Political Science.
“He has deep experience, gained from both the private and public sector, in macroeconomic analysis, financial, economic and investment research and fiscal and macroeconomic policy advisory.
“From 2011 to 2021, he served as the Statistician General of the Federation/Chief Executive Officer of the National Bureau of Statistics (NBS).
“As our Chief Economist, Yemi will lead the firm’s view on macroeconomics and enhance the breadth of our solutions involving economic modelling & macroeconomic analysis in private and public sector clients,” the announcement read.
Under his watch, the stats office released data that were favourable and unfavourable to the ruling government with fear.
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