Nearly half of Nigerian households suffering job losses — Report
Nearly half of Nigerian households experienced a major economic setback in the past year, including job losses, business closures or difficulties finding employment, according to a new report by SBM Intelligence. The report, titled “Six Zones, One Crisis: What Nigerians Say About Jobs, Skills and the Risk of Leaving,” was based on an in-person survey […]
A recent report by SBM Intelligence reveals that nearly half of Nigerian households faced significant economic challenges in the past year, including job losses, business closures, and difficulties finding employment, according to an in-person survey of 1,180 respondents across 21 cities and Nigeria's six geopolitical zones. The Southeast reported the highest level of economic hardship, with 66.5% of respondents experiencing job loss, business closures, or inability to find work, while the Northwest had the lowest rate at 21.5%.
Factors such as poor infrastructure, limited access to capital, security challenges, and subsistence agriculture contribute to the varying economic impacts across regions. Nigerians face different barriers to employment based on their location, with low wages being the biggest challenge in the Southeast and lack of skills in the Northwest.
Many Nigerians are considering relocating for better job opportunities, with the South-South being the most willing to relocate and the Northwest the least. The report suggests increasing investment in inter-regional economic corridors, strengthening digital-skills programs, improving access to credit for small businesses, and addressing nepotism in recruitment to address the harsh economic reality facing the nation.
Written by urgent.news from Daily Trust's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
