The Nigerian Labour Congress (NLC) and key private sector groups have criticized the latest unemployment report from the National Bureau of Statistics (NBS), describing its findings as disconnected from the country’s economic realities.

The NBS report claims Nigeria’s unemployment rate dropped to 4.3% in Q2 2024, down from 5.3% in Q1 2024, citing improved labor market conditions and increased workforce participation. Self-employment accounted for 85.6% of total employment, with urban unemployment at 5.2% and rural unemployment at 2.8%.

However, the NLC dismissed the report as “fiction,” arguing it fails to reflect the hardships Nigerians face. Chris Onyeka, NLC’s Assistant General Secretary, criticized the methodology, pointing to factory closures and economic slowdowns.

Private sector leaders, including Gabriel Idahosa of the Lagos Chamber of Commerce and Dr. Muda Yusuf of the Centre for Promotion of Private Enterprise, echoed these concerns. They questioned the report’s accuracy and methodology, stating the figures do not align with struggling economic sectors like agriculture and manufacturing, which recorded minimal growth in Q3 GDP data.

Experts called for a review of NBS metrics to better reflect job quality and economic well-being, emphasizing that many informal or low-income jobs do not signify meaningful employment. Meanwhile, they urged the government to create a conducive environment for sustainable job growth and economic stability.