Eighty-four per cent of Nigeria’s working-class population were self-employed in the first quarter of 2024, reflecting a decrease from the 87.3 per cent recorded in Q3 2023.
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This is according to the Nigeria Labour Force Survey (NLFS) Q1 2024 report by the NBS.
The report indicates a decline of 3.3%-points in the self-employment rate, highlighting a shift within the labor market.
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Also, the report noted a slight increase of 3.3%-points in wage employment in Q1 2024 to 16.0%, from 12.7% in Q3 2023, which means that more Nigerians got traditional salary paying jobs by early 2024. It reflects a modest but positive change in the employment landscape, indicating a slow but steady workforce absorption into more formal employment sectors.
