Nigerian Economy Added 349,343 Jobs in Third Quarter, Says NBS

The Nigerian economy added a total of 349,343 jobs in the third quarter of the year compared to 259,353 jobs in the previous quarter, according to the National Bureau of Statistics (NBS).

According to the latest Job Creation and Employment Survey released by the statistical agency for the quarter under review, the informal sector of the economy created the high number of jobs totaling 198,144 jobs, followed by the formal sector, which accounted for 145,464 jobs as well as the public sector which generated 5,735 employments.

Jobs which were created to fill a position vacated by an ex-employee accounted for 38.10 per cent of all jobs generated in Q3 2014 while those created for the purpose of business expansion accounted for 24.37 per cent as well as another 18.86 per cent which accounted for employments undertaken to ease work burden on existing staff members.

In addition, 6.72 per cent of total jobs created were done to acquire new skills while 3.05 per cent was hired in anticipation of new opportunities.

The manufacturing sector accounted for 54,446 jobs or 37.43 per cent of total employment in Q3, followed by the human health and social services which absorbed 30,237 jobs or 20.79 per cent of the total figure.

Information and communication sector hired 125 persons and accounted for 0.09 per cent of total jobs in the period under review.

Meanwhile, it also emerged that Bauchi, Benue, Delta, Kebbi, Ondo and Yobe States generated N4.93 billion, N8.37 billion, N50.20 billion, N3.73 billion, N10.49 billion and N3.03 billion respectively as internally generated revenue for 2013, according to the NBS in an updated release.