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Nigeria’s Unemployment Rate Rises 33.3% as Unemployed Persons Hit 23.2m

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Unemployment Rate

By Adedapo Adesanya

The rate of unemployment among Nigerians jumped 33.3 per cent in the fourth quarter of 2020, according to the latest data from the National Bureau of Statistics (NBS).

In the Labour Force Statistics: Unemployment and Underemployment Report released on Monday, the NBS said this represents an increase from 27.1 per cent recorded in the second quarter of the year under review.

According to the calculations done by Business Post, in the period under consideration, a total of 23,187,389 persons were willing to work but could not get jobs.

The report revealed that the total number of people in employment (people with jobs) during the reference period was 46,488,079. Out of which 30,572,440 were full-time employed (worked 40+ hours per week), while 15,915,639 were under-employed (working between 20-29 hours per week). These figures indicated a drop of 20.6 per cent compared with the people in employment in Q2, 2020.

The report further showed that the number of persons in the economically active or working-age population (15 – 64 years of age) during the reference period of the survey were 122,049,400, 4.3 per cent higher than 116,871,186 in the corresponding quarter.

The stats agency explained that the number of persons in the labour force, that is people between the ages of 15 – 64, who are able and willing to work, were estimated to be 69,675,468. This was 13.2 per cent less than the number of persons in the second quarter.

Of this number, those within the age bracket of 25-34 were highest, with 20,091,695 or 28.8 per cent of the labour force.

For the period under review, the unemployment rate among young people (15 – 34years) was 42.5 per cent up from 34.9 per cent.

The unemployment rate among rural dwellers went up to 34.5 per cent from 28.2 per cent in Q2 2020, while urban dwellers reported a rate of 31.3 per cent, higher than 26.4 per cent in the comparative period.

There was a semblance of good news in the case of underemployment among rural and urban dwellers. For rural dwellers, it declined to 26.9 per cent from 31.5 per cent, while for urban dwellers, it decreased to 16.2 per cent from 23.2 per cent in Q2 2020.

Also, the rate of underemployment among young people (15- 34years) declined to 21.0 per cent from 28.2 per cent in the previous quoted period.

By states, Imo State reported the highest rate of unemployment with 56.6 per cent of people without any job, this was followed by Adamawa and Cross River States with 54.9 per cent and 53.7 per cent respectively.

The lowest rate of unemployment was recorded in Osun State with 11.7 per cent.

Per underemployment, the state which recorded the highest rate was Benue State with 43.5 per cent while Lagos State recorded the lowest underemployment rate with 4.5 per cent in Q4 2020.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Jobs/Appointments

NMDPRA Denies Fake Employment Alert, Warns Unsuspecting Job Seekers

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NMDPRA fee regulations

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.”

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Aradel Appoints Nnoli Akpedeye as Independent Non-Executive Director

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Nnoli Akpedeye

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.

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Geregu Power Chooses Sean Manley as Interim CEO

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Geregu Power

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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