Unemployment Rate Evolution in Nigeria from 2011 to 2022

Nigeria’s unemployment rate has risen notably since 2011, when it was 3.8%, reflecting economic pressures from population growth, oil price volatility, and limited job diversification. By 2019, the rate climbed to 10.7%, reflecting the strain on the job market due to slower economic growth. In 2022, the rate was recorded at 3.8%, but this low figure contrasts with high levels of underemployment, which remains a major challenge. Nigeria’s economic resilience depends on diversification beyond oil and creating opportunities in other sectors to address youth unemployment.