Economy
Recent unemployment statistic smacks of political blackmail, unscientific voodoo, group blasts FG
Prominent pro-Democracy group – Human Rights Writers Association 0f Nigeria (HURIWA) has castigated the National Bureau of Statistics (NBS) for breaching scientific methodology and accuracy of existential, real time facts in reaching a jaundiced determination of what it calls Nigeria’s unemployment rate that in their imagination has recorded a dramatic drop from 33.1 per cent reported in March 2021 to 4.1 per cent for the first quarter of 2023.
HURIWA, in a statement entitled “Recent unemployment statistic a product of political blackmail, highly unscientific and unreal“, said the current unemployment data by NBS were generated as a result of intensive and well-oiled political blackmail and media propaganda orchestrated straight from the office of the President of Nigeria just to get a quick response to the groundswell of concerns, consternation and worries of millions of Nigerians about the high costs of living and the high inflation rate created by the upward review in the pump price of petrol which has had a spiral effects on the costs of foodstuffs and services in Nigeria.
The National Bureau of Statistics (NBS), it would be recalled, disclosed on Wednesday, when it released its employment data for the first quarter of 2023, indicating a substantial improvement in the job market. It further stated that in Q1,2023, 92.6 per cent of employed persons in Nigeria were in informal employment, which includes agriculture, while 89.4 per cent in informal employment that excludes agriculture.
HURIWA has, however, blamed the NBS for capitulating to a well-orchestrated political propaganda from the office of the Nigerian President which has since the time of the immediate past president, produced by the same All Progressives Congress, had blackmailed the National Bureau of Statistics for displaying boldness, charismatic courage and candour, frankness and for relying on credible facts and figures to draw up conclusions on the unemployment or poverty related data about Nigeria and Nigerians.
“Appearance of this political piece of jaundiced propaganda by the Tinubu’s government through a contrived unemployment data is far removed from the realities of life in Nigeria of today,” HURIWA asserted.
It said the current Special Adviser Media and Publicity to President Bola Tinubu who was then a special assistant on media to the then President Muhammadu Buhari had lambasted the NBS for being factually accurate and apolitical with their published statistical data just as he spared no words to discredit the work of this publicly funded agency of the central government.
HURIWA, which rubbished the most recent publication on the unemployment rate by the NBS under a new hierarchy, affirmed that the NBS must have relied on voodoo and imaginary reasons when the bureau said the revised methodology defines employed persons as individuals who are working for pay or profit and who worked for at least one hour in the last seven days against 40 hours.
“The old methodology placed a range on the working-age population- 15 – 64 years, while considering working hours between 20-39 hours as underemployment, 1-19 hours as unemployment,” it added.
The human rights group noted that only someone who resides in the moon or other strange planets wouldn’t know that the N1,000 paid mostly for one hour menial job can’t possibly be classified as a minimum or living wage and this then calls to question what the NBS means by 1 hour employment out of seven days.
“So, if someone earns N1k per one hour in a whole of 7 days, how does he feed himself, his family household and other dependents and buy the costly fuel to power his ‘I pass my neighbour’ generator due to erratic electricity power supply?”
It recalled that the Bureau in its latest publication also announced that the unemployment rate as of the fourth quarter 2022 was 5.3 per cent. These were contained in the fourth quarter 2022 and first quarter 2023 Nigeria Labour Force Survey (NLFS) report launched on Thursday in Abuja.
HURIWA attributed this watering down of the statistics to satisfy political wishes of the President Tinubu’s government just like his predecessor, to wishful propaganda because according to HURIWA, the Presidency had in 2022 attacked the NBS when around March 2021 it accurately reported that Nigeria’s unemployment rate rose to 33.3 per cent, translating to some 23.2 million people, the highest in at least 13 years and the second-highest rate in the world.
“The figure jumped from 27.1 per cent recorded in the second quarter of 2020 amid Nigeria’s lingering economic crisis worsened by the Coronavirus pandemic,” it recalled.
HURIWA, which backed analysts for saying that the unemployment statistics with the updated methodology do not reflect the true number of jobless people in Africa’s most populous country, where many have lost their jobs as a result of surging inflation and where the government has struggled to create enough jobs, cautioned the NBS to stop driving the agency to the Golgotha of doubts, cynicism and deceitful tendencies.”
The group said: “You do not need rocket science to ascertain correctly that the true unemployment rate in Nigeria might be more than the 33 per cent recorded in 2020 when the NBS last released the labour data, as said by a statistical expert Akintunde Ogunsola, an Abuja-based financial analyst.”
He said many businesses in the micro, small and medium enterprise sector — a significant part of the economy — have been forced either to lay off some workers or shut down.
HURIWA recalled that the unemployment rate in the country had more than quadrupled since 2016 when the economy slipped into a recession during the last administration of former President Muhammadu Buhari, as canvassed by experts.
It condemned the National Bureau of Statistics for surrendering to political blackmail from the office of the President, and recalled that in April 2021, the then Minister of Labour, Dr. Chris Ngige, claimed that the World Bank questioned the methodology employed by NBS to generate its employment statistics, adding that he had on several occasions queried the employment statistics released by the agency. This statement was then contradicted by the hierarchy of the NBS then.
Besides, on February 3, 2022, the office of the President upped its attack by stating without justification that the National Bureau of Statistics (NBS) data are always wrong.
HURIWA recalled that the then Senior Special Assistant to the President on Public Affairs to then President Muhammadu Buhari, Ajuri Ngelale, who is now Special Media Adviser to President Bola Ahmed Tinubu disclosed this in an interview with Trust TV’s Daily Politics on Wednesday, February 3rd 2022.
Ngelele said the NBS usually gives out the wrong statistics of unemployed adults in the country.
Ngelele had said then that the agency doesn’t have the required manpower to produce accurate data. His words; “The Statistician-General told us that we have a handful of NBS staff.
“Go to the NBS yourself and see what their employment rolls look like; how many staff do they have to be able to send out to the nooks and crannies of the entire Nigerian federation. They send out a handful of people state by state,” Ngelele insisted.
According to him, the NBS figures failed to capture those in the informal sector.
Ngelele said: “I am saying very clearly that the NBS has a serious problem with accurate data till today.
““The same statistics suggested that somewhere in 2014, that the unemployment rate on the nation was eight percent that is less than 10 percent… will you suggest anytime in your lifetime in this country, Nigeria, that we are all living in, that out of the adult population in the country, with well over a 100 million people, that 92 million out of the working adults, even worst that.”
HURIWA, therefore, cautioned the current hierarchy of the NBS to either carry out their duties as scientists that depend on verifiable evidence and not voodoo and imaginative thinking, or else Nigerians will begin to take anything coming from the NBS under the current administration as politically manipulated, unreliable, unscientific and unverified conjectures.
The Rights group stated that unemployment rate in Nigeria is even higher than the 33% stated by NBS two years ago that attracted the political anger of the office of President which has been carried over to the current government since the principal character that launched the scathing criticism against the NBS last year is still in government and occupying even a higher office as the Special Adviser on Media and Publicity to the current President.
HURIWA is therefore charging Nigerians to realise that the most current unemployment data from the President Tinubu’s controlled NBS is warped, manipulated and manufactured to satisfy political agenda of the current government over a long term. Read more.
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Tier-one Lender, Fidelity Bank Plc., has announced the resumption of international transactions on its Naira Debit Cards.
This recommencement gives customers the freedom to make seamless payments abroad, online, and at ATMs outside the country.
The Divisional Head of eBanking, Fidelity Bank, Ifeoma Onibuje, shed light on the development.
Onibuje said: “We are delighted to inform the public that Fidelity Naira Cards are now enabled for global use.
“This means that our travelling customers can now utilize their Naira Debit cards outside the country to shop, spend and withdraw internationally without hassles.”
“Consequently, our customers can now spend up to $1,000 quarterly for international POS and online transactions; and withdraw up to $500 quarterly on international ATMs.”
The announcement offers Fidelity Bank customers another way to complete international transactions, in addition to the Bank’s existing foreign currency debit and credit cards.
The bank stated that it further reinforces its commitment to delivering solutions that fit seamlessly into customers’ lifestyles.
With Fidelity Bank’s VISA and Mastercard Naira Debit Cards, Nigerians can now enjoy effortless global access.
Beyond payments, Fidelity VISA cardholders, one of the variants of the bank’s card offerings, also enjoy premium travel and lifestyle benefits.
The benefits range from airport lounge and spa access via the Visa Airport Companion App, to fast-track immigration lanes and 20% discounts on SIXT car rentals worldwide.
This move, the bank said, also reflects its commitment to provide secure, convenient, and reliable banking services that empower customers in Nigeria and beyond.
The bank noted that it has deliberately made the process of getting a Fidelity Naira card seamless.
It stressed that customers can easily apply for their Fidelity VISA or Mastercard Naira Debit card via the Fidelity Mobile App or simply visit the nearest Fidelity bank branch to request for one and they can start transacting globally with ease.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
A Nigerian TikTok sensation known as “Geh Geh” has stunned the internet after pulling in over $30,000 from a single live session that attracted more than 177,000 viewers.
The young entertainer, who calls his platform the “University of Wisdom and Understanding,” has quickly built a cult following with his raw and unfiltered lectures about women, money, and survival in Nigeria.
During the live broadcast on Thursday, August 21, viewers showered him with virtual gifts that he later calculated to be worth over $30,000.
The milestone instantly pushed him into the spotlight as one of Nigeria’s fastest-rising online personalities.
Reacting in disbelief after the stream, Geh Geh said:
“More than 177,000 people watch my lectures today. Jesus! University of wisdom and understanding, the only university where once you graduate, woman go fear to ask you for money.”
Despite not having a formal education, Geh Geh proudly calls himself “the first illiterate to find a university in the history of Nigeria.” In a video after the viral live, he reminded fans of his humble background:
“I no be graduate too, but by the grace of God, I don find school. I be orphan, but now Nigerians don show me love.”
The TikTok star admitted he was overwhelmed by the generosity of his supporters.
“See gift I made over… more gift when they give me today is worth about $30,000. I no go take this love for granted, because I no really do anything for am.”
His rise has been hailed as proof of how social media is transforming lives in Nigeria. With no degree, no rich background, and no industry connection, Geh Geh has managed to build a fanbase that now calls themselves “students” of his unusual university.
Still, his controversial views on women and relationships continue to spark heated debates. While some dismiss his advice as reckless, others insist his boldness speaks directly to Nigeria’s frustrated youth.
Reflecting on his sudden fame, Geh Geh compared himself to great thinkers:
“If Nigeria be country wey value great people, by now them suppose dey compare people like me with Aristotle, Wole Soyinka, Einstein… but I thank God say people dey see my head and my own difference.”
From an orphan with no prospects to a viral star earning in dollars, Geh Geh’s story has become one of digital empowerment.
His journey shows how platforms like TikTok are creating new forms of fame, money, and influence for Nigerians especially those once written off by society.
The United Kingdom has once again cemented its position as Nigeria’s leading source of foreign capital, accounting for more than N5.5 trillion in inflows during the first quarter of 2025, according to the latest data from the National Bureau of Statistics (NBS).
Figures from the Capital Importation Report show that capital from the UK rose to $3.68bn (N5.52tn) in Q1 2025, representing 65.26% of Nigeria’s total $5.64bn inflows for the quarter.
This marked a 29.2% rise from the $2.85bn recorded in Q4 2024 and more than double the $1.81bn inflows seen in Q1 2024.
This underscores Britain’s dominance in Nigeria’s external financing profile and highlights the strong bilateral financial ties between both nations.
Breakdown of Q1 2025 Capital Inflows by Country
United Kingdom: $3.68bn (65.26%)
South Africa: $501.29m (8.88%)
Mauritius: $394.51m (6.99%)
United States: $368.92m (6.54%)
United Arab Emirates: $301.72m (5.35%)
Together, these top five countries accounted for over 92% of Nigeria’s capital inflows, reflecting both the concentration of Nigeria’s foreign investments and the risks of over-dependence on limited markets.
Other contributors included:
Cayman Islands: $114.76m (up sharply from $0.64m in Q4 2024)
Belgium: $70.54m
France: $47.33m
Netherlands: $42.68m (down significantly from $425.61m in Q4 2024)
Singapore: $36.79m
Overall, capital importation into Nigeria stood at $5.64bn in Q1 2025, up 10.9% from Q4 2024’s $5.09bn, and a remarkable 67.1% higher than the $3.38bn recorded in Q1 2024.
The NBS noted:
“Capital Importation during the reference period originated largely from the United Kingdom with $3,681.96m, showing 65.26 per cent of the total capital imported.”
A separate survey by Strategy Management Partners (UK) reveals that British companies are increasingly targeting Africa as a strategic growth frontier.
50% of UK firms with annual turnover above £20m are already operational in Africa and planning expansions.
Another 28% of executives said they are interested but remain cautious about entry strategies.
Africa’s appeal lies in its resource wealth and demographic potential:
30% of the world’s mineral reserves
8% of natural gas reserves
12% of oil reserves
65% of the world’s arable land
Projected to host 25% of the global workforce by 2035
Seven key sectors remain magnets for foreign capital inflows into Nigeria and Africa at large:
1. Technology
2. Oil & Gas
3. Power and Renewable Energy
4. Agriculture
5. Manufacturing
6. Infrastructure
7. Strategic Minerals
Analysts warn that while Nigeria’s reliance on UK-driven inflows reflects strong global confidence, the concentration of sources exposes the economy to external shocks if investor sentiment shifts in these countries.
Diversification of investment partnerships particularly within Asi
a, the Americas, and intra-African trade will be crucial to ensuring long-term resilience in capital inflows.
The United States government has said that Nigeria’s new N70,000 minimum wage has lost real value due to the sharp fall of the naira, leaving millions of workers trapped in poverty.
According to the 2024 Country Reports on Human Rights Practices, released by the U.S. Department of State’s Bureau of Democracy, Human Rights, and Labour, the wage translates to just $47.90 per month.
The report noted that currency devaluation and weak enforcement have undermined the wage increase.
The report also revealed that many states are yet to implement the new wage law. Several governors cited financial challenges as the main excuse.
Even where the law exists, compliance remains poor because of limited labor inspectors and weak oversight from authorities.
Wage Devaluation and Exclusion
The report highlighted that firms with fewer than 25 workers are excluded from the minimum wage law, leaving millions of employees without protection.
This also explained that about 70 to 80 percent of Nigeria’s workforce operates in the informal sector, where wage and labor rights are almost never enforced.
This means a majority of Nigerians continue to earn far below the national benchmark, despite the government’s approval of N70,000 as the new minimum wage.
The U.S. report stressed that the naira’s sharp decline, trading above N1,500 to the dollar, had worsened the wage erosion. This has left workers unable to afford basic needs, pushing many deeper into poverty.
Human Rights and Labor Challenges
The document pointed out that weak enforcement of labor laws contributes to worsening poverty levels in the country.
Workers in the informal sector, such as street vendors, artisans, and small traders, rarely benefit from labor protections.
The report also noted that Nigeria’s minimum wage is rarely sufficient to cover basic food, housing, and transport needs.
This has further exposed structural gaps in the government’s approach to economic reforms and poverty reduction.
Governors Push Investment Platform
Meanwhile, the Nigeria Governors’ Forum (NGF) has launched a new investment initiative called NGF Investopedia.
The platform seeks to attract capital flows into bankable projects across all 36 states, with the goal of tackling Nigeria’s annual $100 billion infrastructure financing deficit.
The launch event in Abuja gathered governors, international partners, and investors. The forum described the platform as a long-term strategy to unlock growth opportunities across states and strengthen Nigeria’s subnational economies.
NGF Chairman and Kwara State Governor, Abdulrahman AbdulRazaq, said Nigeria must urgently leverage its human and natural resources to address poverty and joblessness.
“Here is Africa’s largest economy, endowed with abundant human and natural resources,” he said, stressing that state governments must play a bigger role in attracting investments and supporting local industries.
A Widening Gap
The contrast between the U.S. report on wage decline and the governors’ push for investment highlights Nigeria’s economic paradox.
While authorities promote foreign capital inflow, millions of workers continue to survive on wages that have lost most of their value.
With inflation rising, food prices soaring, and the naira weakening, the gap between earnings and cost of living keeps widening.
Unless enforcement improves and the informal sector is integrated into wage protections, the N70,000 benchmark may remain symbolic rather than effective.
Fidelity Bank may have hit another milestone the Fidelity Naira Card is now accepted globally.
This was disclosed in a message sent to Diaspora Digital Media (DDM) via email on Monday.
According to the statement entitled “Your Fidelity Naira Card Now Works Globally; Shop, Pay and Withdraw with Ease!“, customers can buy favourite global brands online using their Fidelity Naira Card.
The band also stated that they can equally pay at POS terminals abroad and make cash withdrawals at ATMs as they travel.
The message reads:
“We’re excited to let you know that your Fidelity Naira Card is now enabled for global use — so you can shop, spend and withdraw internationally with confidence.
“Here’s what you now enjoy every quarter:
|
Channel |
Transaction Limit |
| ATM Withdrawal abroad | $500 |
| Online/Web & POS Payments | $ 1,000 |
“What does this mean for you?
- Shop your favourite global brands online
- Pay at POS terminals abroad with ease
- Withdraw cash at ATMs when you travel.”
The statement, however, noted that the $1,000 quarterly limit applies to all international transactions combined, including ATM withdrawals, online purchases, and POS payments.
The bank urged customers who may need assistance with setting card limits or activating their cards for global use, to contact the bank’s customers care “Centre Trueserve”, which is available round the clock, whether in Nigeria, or outside the country.
“Your world, your card — spend smart, spend globally with Fidelity,” the message concludes.
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