The most recent data from the World of Statistics reveals that Nigeria has taken the unenviable position of having the highest unemployment rate among countries.

Nigeria’s rate stands at 33.3%, leading the chart, closely followed by another African nation, South Africa, at 32.9%, and Iran at 15.55%.

Conversely, nations with the lowest unemployment rates include Qatar at 0.1%, Cambodia at 0.36%, and Niger at 0.5%.

The National Bureau of Statistics in Nigeria has reported an escalation in unemployment from 27.1% in the second quarter of 2020 to 33.3% in the fourth quarter of the same year.

In a more recent update, multinational consulting firm KPMG highlighted a further rise in Nigeria’s unemployment rate, reaching 37.7% in 2022.

They anticipate a rise to 40.6% due to the steady influx of job seekers entering the market.

KPMG attributes the persistent unemployment challenge to sluggish economic growth, making it difficult for the economy to absorb the 4-5 million new job seekers annually.

Advocacy group the Centre for Social Justice has urged the National Bureau of Statistics to release current unemployment data for the nation, asserting that the lack of updated information since the fourth quarter of 2020 amounts to negligence.

While the National Bureau of Statistics had initially aimed to unveil new unemployment figures by May 2023, the release of the report is still pending.