Around 20% of workers in Nigeria have lost their jobs as a result of COVID-19, according to the government’s statistics office, outlining the impact of the pandemic on businesses in Africa’s most populous nation. The National Bureau of Statistics and the United Nations Development Program surveyed nearly 3,000 businesses in the formal and informal sectors in Nigeria. In March, the NBS said a third of Nigeria’s workers were out of a job in the fourth quarter of 2020, a situation worsened by the pandemic. Businesses complained about revenue declines, higher costs and an inadequate safety net for those in the informal sector, they said, adding that the disruption could leave a lasting impact on enterprises. Only a few in the utilities, financial and health sectors reported gains from the previous year. The West African nation’s economy, the biggest on the continent, was hammered by the fall in oil prices following disruptions caused by the pandemic. The country relies on crude exports for around 70% of government revenues.
SOURCE: CNN
More Stories
How to Experience Lagos and Parts of Nigeria
From Former Refugee to Travel Fundi
Living Wild in Zambia’s National Park
A Traveller’s Guide to the Kgalagadi Transfrontier Park
Rwanda is Home to Many other Thrilling Species – If you Know Where to Look
Akwasi Brenya-Mensa on Tatale: “My Work is About What African Cuisine Will Look Like in 30 to 50 Years’ Time”
Behold ‘The Woman King’: Viola Davis as a Real-Life Warrior General
10 Questions With… Nfemi Marcus-Bello
Meet the Ghanaian Author Documenting the History of African Designers
Beyoncé Has Helped Usher in a Renaissance for African Artists
Angola’s Privatisation Campaign is an Experiment
Trouble in Abuja’s Airspace