The World Bank on Thursday, July 16, revealed that around 42% of Nigeria’s workforce lost their jobs between March and June following the shutdown of the economy in the aftermath of the coronavirus outbreak.
This disclosure was made by Ahmed Rostom, Senior Financial Sector Specialist, World Bank, at the Development Bank of Nigeria (DBN) Webinar Series’ virtual knowledge-sharing series titled ‘Risk Sharing: A Key Driver for Increased Financial Access and Economic Development for MSMEs.’
Rostom presented data from surveys executed by the World Bank between April and June 2020 on the economic growth constraints as well as the impact of COVID-19 in the country.
42 percent of persons working before March 2020, particularly those in the hospitality and service industry, are out of a job, Rostom said.
Panelists also acknowledged that Credit Guarantees Schemes were notable policy documents; created to alleviate credit constraints confronting Micro, Small and Medium Enterprises (MSME).
From 1st news.
*I believe the percentage is even more because i have read lots of comments in the comment section indicating job losses......What a pity!
Stella,It is really sad.And the federal govt are planning to.disengage Npower volunteers.Where do they want them to start from.Even the 30k is not enough sef with the situation of this country.Its unfair oo
ReplyDeletePretty sad
DeleteWay more than oo. Everyone is now into watsapp sales here and there is survive. Nigerians are suffering wahalai
DeleteNo statistic from Nigeria can be trusted.
ReplyDeleteTo be fair, just multiply it by two and that's close to it.
The government don't care.
I don't trust any statistics that comes out of Nigeria. It is always multiplied by five.
ReplyDeleteYes Stella. You are right. I remember the young man that committed suicide because he had plans to get married the next month and lost his job. I just pray that this Npower stuff works out. It would really put a smile on some of our faces
ReplyDeleteI am.praying it works too......my brother applied too
DeleteIt's more than 40% abeg
ReplyDeleteSo true
ReplyDeleteThe figure should be more than that
ReplyDeleteSome in private hospitals and companies lost their jobs,but Nigeria govt no send.Always sharing audio palliative.
ReplyDeleteIt's even more than that...
ReplyDeleteTrue even dangote that the profit after task this year is greater than last year despite the lockdown sacked 30% of his staffs, he just see opportunity to cut down, and to me its a wicked acts, he should have asked the non Nigerians to leave,those ones are the ones rippling off the company, they earn in dollars going into millions of naira without doing much, most of them hold certificate equivalent to school cert here,
ReplyDeleteA friend of mine just got a job before lockdown,we were all happy only for them to sack her , its just a pity.
ReplyDeleteGod help us please.
ReplyDeleteI don't wish it on anyone, not even my enemy. It's terrible
ReplyDeleteGod please help us. It's just so o sad. Private establishments ain't making much. Paying salaries is a problem..
ReplyDeleteI quite disagree with this figure. What percentage of Nigerian working population are in private hospitality and tourism? I Agree that millions of businesses must have been negatively impacted especially schools amd other SME but to sit down and say 42% is a lie because we don't just have that database.
ReplyDeleteIt's more than plus some of us that are unemployed before the lockdown
ReplyDeletestella its not a joke, we that still have job but told to stay at home are so terrified.
ReplyDeleteif management see that the organisation can function for over 2 months without us....who knows what they will do o.
Everybody be prayerful, cling to your God
Only God will help us in this country especially concerning the issue of unemployment
ReplyDeleteStill thankful to God every day. I got a job that will be paying me a 7 figure monthly salary during this lockdown. I can’t help but sing of his faithfulness.
ReplyDelete