Jobs/Appointments
Nigeria’s Unemployment Rate Rises 18.8% as 15.9m Jobless
By Dipo Olowookere
Data released on Friday morning by the National Bureau of Statistics (NBS) has revealed that in the third quarter of 2017, the unemployment rate in Nigeria increased to 18.8 percent.
This was an increase from 16.2 percent recorded in the second quarter of this year, according to the stats office.
The NBS, in the report, noted that the number of people within the labour force who were unemployed increased from 13.6 million in the second quarter of the year to 15.9 million in the third quarter of same year, with more than two million people unemployed within the period.
This was attributed to the economic recession that saw the nation’s growth decelerate until September 2017 when Nigeria finally exited recession.
Also in the report, the country’s stats agency stated that the number of underemployed increased from 17.7 million in the second quarter to 18 million in period under review.
The report further said economically active or working age population (15–64 years of age) increased from 110.3 million in Q2 to 111.1 million in Q3 2017, while the labour force population increased from 83.9 million in second quarter to 85.1 million in Q3 2017.
The total number of people in full-time employment (at least 40 hours a week) declined from 52.7 million in Q2 2017 to 51.1 million in Q3 2017, it said, adding that total unemployment and underemployment combined increased from 37.2 percent in the previous quarter to 40.0 percent in Q3 2017.
During the quarter Q3 2017, 21.2 percent of women within the labour force (aged 15-64 and willing, able, and actively seeking work) were unemployed, compared to 16.5 percent of men within the same period.
The report also noted that underemployment was predominant in the rural areas as 26.9 percent of rural residents within the labour force in were underemployed compared to 9 percent of urban residents within the same period.
“An economic recession is consistent with an increase in unemployment as jobs are lost and new jobs creation is stalled,” the report said.
“A return to economic growth provides an impetus to employment. However, employment growth may lag, and unemployment rates worsen especially at the end of a recession and for many months after,” it added.
“Nigeria economic growth has been decelerating since Q2 2014 culminating in an economic recession in Q2 2016. The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country gross domestic product (GDP).
“The economic recession was technically over in Q2 2017. However, several economic activities are still contracting or recovering sub optimally.
“The unemployment rate, induced by a recession, typically peaks about 15-18 months after the beginning of a recession or 4-8 months after the end of a recession before it returns to its pre- recession trend.
“This, in the case of Nigeria will be a peak in Q4 2017 which means we will only expect unemployment to return to its normal trend in 2018.
“The length of the lag depends on how deep and long the recession was. It also depends on how stable and fast the recovery is as well as on the economic sectors diving the recovery (labour or capital/technology intensive).
By Modupe Gbadeyanka
Lagos Television (LTV 8), Alausa, Ikeja, has a new General Manager, and he is Mr Kayode Oyekanmi, replacing Mrs Sola Kosoko, who was ousted by the Lagos State government.
Mr Oyekanmi was presented with his letter of appointment on Wednesday, May 13, 2026, by the Lagos State Head of Service, Mr Bode Agoro, in a brief ceremony.
The new General Manager of the state-owned broadcast station was tasked with using his vast experience in the media space to take LTV 8 to greater heights.
Mr Agoro expressed confidence in Mr Oyekanmi’s capacity to reposition Lagos Television and wished him a successful and impactful tenure of office.
Prior to his appointment, Mr Oyekanmi served as the Director of Strategy Centre at the Lagos State Ministry of Information and Strategy, a position he has held since 2022.
A seasoned brand communications practitioner, Mr Oyekanmi has over three decades of professional experience spanning both the private and public sectors, with expertise in Advertising, Public Relations, and global export services.
He commenced his public service career as a Public Affairs Practitioner on March 1, 2000, with the Lagos State Ministry of Information and Strategy.
The new LTV boss, a Lagos State indigene from Isale Eko, Lagos Island, has received several awards in recognition of his dedication, hard work, and commitment to the journalism profession.
He holds a Master’s degree in Public Administration (MPA) from the University of Lagos and a Bachelor’s degree in English Language and Education from Lagos State University.
He is an active Member of the Nigeria Union of Journalists (NUJ) and the Nigerian Institute of Public Relations (NIPR).
In addition, he is a voracious reader and a passionate lawn tennis player, and currently serves as the Charter President of the Lagos State Ministry of Information Toastmasters Club.
By Modupe Gbadeyanka
A retired Major-General, Mr Adeyinka Famadewa, has been appointed as the Special Adviser to President Bola Tinubu on Homeland Security.
The appointee retired from the military after over three decades, with experience in national security strategy, intelligence fusion, counter-terrorism operations, and international security diplomacy.
His career reflects a rare blend of operational excellence, strategic foresight, and institutional leadership in safeguarding Nigeria’s territorial integrity and national interests, a circular signed by the Secretary to the Government of the Federation (SGF), Mr George Akume, said.
It was disclosed that Mr Famadewa was chosen for the position because of his exceptional record of service, strategic expertise, and outstanding contributions to Nigeria’s national security architecture.
The notice said the appointment underscores the commitment of the administration of Mr Tinubu to strengthening internal security coordination, enhancing intelligence-driven operations, and deepening inter-agency collaboration in addressing emerging security threats across the country.
The President expressed confidence that Mr Famadewa’s appointment will further enhance the government’s efforts toward achieving a safer and more secure Nigeria through improved coordination of homeland security initiatives, intelligence integration, and proactive risk management.
He also urged him to deploy his wealth of experience, professionalism, and strategic insight in advancing national security objectives and supporting the administration’s agenda.
By Aduragbemi Omiyale
In a bid to strengthen its board and support its transformation goals, FCMB Group Plc has appointed the chairman of the board of the Lagos State Employment Trust Fund (LSETF), Mrs Adepeju Adebajo, as an independent non-executive director.
A statement signed by the company secretary, Mrs Olufunmilayo Adelabu, disclosed that the appointment has been approved by the Central Bank of Nigeria (CBN).
She brings to the board over 30 years of experience across industry, renewable energy, agriculture, finance and consulting. She has worked with teams and clients in sub-Saharan Africa and Europe, helping them grow and multiply impact.
Throughout her career, Mrs Adebajo has led teams through change and growth. She previously worked at Lafarge Africa Plc, and was once the chief executive of Mouka Limited, Lumos Nigeria, UTC Nigeria Plc and an Assistant General Manager at United Bank for Africa (UBA) Plc. She is a Transformation Lead at Etex Group (Nigerite and Emenite Limited).
In 2025, she founded Climate Governance Initiative Nigeria, affiliated with the World Economic Forum (WEF) and serves on the World Economic Forum Council on Climate and Nature Governance (2025-2027).
Mrs Adebajo holds a Master’s and a BSc in Chemical Engineering from Imperial College London and an MBA from Harvard Business School.
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