Nigeria Unemployment Rate
2022 - 2023 | Quarterly | % | CEIC Data
Key information about Nigeria Unemployment Rate
- Nigeria Unemployment Rate dropped to 4.10% in Mar 2023, from the previously reported figure of 5.30% in Dec 2022.
- Nigeria Unemployment Rate is updated quarterly, available from Dec 2022 to Mar 2023, with an average rate of 4.70%.
- The data reached an all-time high of 5.30% in Dec 2022 and a record low of 4.10% in Mar 2023.
- The data is reported by reported by CEIC Data.
- In the latest reports, Nigeria Population reached 211.49 million people in Dec 2021.
View Nigeria's Unemployment Rate from Dec 2022 to Mar 2023 in the chart:
What was Nigeria's Unemployment Rate in Mar 2023?
Nigeria Unemployment Rate dropped to 4.10% in Mar 2023, from the previously reported figure of 5.30% in Dec 2022. See the table below for more data.
| Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|
| 4.10 Mar 2023 | 5.30 Dec 2022 | 4.10 Mar 2023 | 5.30 Dec 2022 | % | quarterly | Dec 2022 - Mar 2023 |
Unemployment Rate by Country Comparison
| country/region | Last | Frequency | Range |
|---|---|---|---|
| Albania (%) | 10.65 Dec 2023 | quarterly | Mar 2012 - Dec 2023 |
| Algeria (%) | 11.40 Jun 2019 | quarterly | Mar 2014 - Jun 2019 |
| Argentina (%) | 6.90 Mar 2023 | quarterly | Jun 1990 - Mar 2023 |
| Armenia (%) | 13.30 Sep 2024 | quarterly | Mar 2008 - Sep 2024 |
| Australia (%) | 3.98 Dec 2024 | monthly | Feb 1978 - Dec 2024 |
| Austria (%) | 5.30 Dec 2024 | monthly | Jan 1993 - Dec 2024 |
| Azerbaijan (%) | 5.64 Mar 2023 | quarterly | Mar 2008 - Mar 2023 |
| Bahrain (%) | 5.90 2020 | yearly | 1991 - 2020 |
| Bangladesh (%) | 5.30 2020 | yearly | 1991 - 2020 |
| Belarus (%) | 0.10 Dec 2024 | monthly | Oct 2004 - Dec 2024 |
| Belgium (%) | 5.80 Dec 2024 | monthly | Jan 1983 - Dec 2024 |
| Bolivia (%) | 2.70 Sep 2024 | quarterly | Dec 2015 - Sep 2024 |
| Bosnia and Herzegovina (%) | 13.17 2023 | yearly | 2006 - 2023 |
| Botswana (%) | 20.68 2022 | yearly | 1991 - 2022 |
| Brazil (%) | 6.20 Dec 2024 | monthly | Mar 2012 - Dec 2024 |
| Brunei (%) | 5.20 2023 | yearly | 1981 - 2023 |
| Bulgaria (%) | 3.60 Sep 2024 | quarterly | Mar 2000 - Sep 2024 |
| Cambodia (%) | 2.40 2020 | yearly | 2020 - 2020 |
| Canada (%) | 6.60 Jan 2025 | monthly | Jan 1976 - Jan 2025 |
| Chile (%) | 8.22 Nov 2024 | monthly | Mar 2009 - Nov 2024 |
| China (%) | 5.10 Dec 2024 | quarterly | Mar 2017 - Dec 2024 |
| Colombia (%) | 12.12 Mar 2022 | monthly | Jan 2021 - Mar 2022 |
| Croatia (%) | 6.80 Dec 2022 | quarterly | Mar 1998 - Dec 2022 |
| Cyprus (%) | 4.50 Dec 2024 | monthly | Jan 2000 - Dec 2024 |
| Czech Republic (%) | 2.70 Dec 2024 | monthly | Jan 1993 - Dec 2024 |
| Denmark (%) | 4.90 Apr 2023 | monthly | Jan 2007 - Apr 2023 |
| Ecuador (%) | 3.38 Dec 2024 | quarterly | Dec 2013 - Dec 2024 |
| Egypt (%) | 6.70 Sep 2024 | quarterly | Mar 2003 - Sep 2024 |
| Estonia (%) | 5.30 Mar 2023 | quarterly | Mar 1997 - Mar 2023 |
| European Union (%) | 5.90 Dec 2024 | monthly | Jan 2000 - Dec 2024 |
| Finland (%) | 6.90 Apr 2023 | monthly | Jan 1988 - Apr 2023 |
| France (%) | 7.20 Jun 2023 | quarterly | Mar 1975 - Jun 2023 |
| Georgia (%) | 16.40 2023 | yearly | 1991 - 2023 |
| Germany (%) | 3.40 Dec 2024 | monthly | Jan 1991 - Dec 2024 |
| Ghana (%) | 3.56 2023 | yearly | 1991 - 2023 |
| Greece (%) | 11.20 Apr 2023 | monthly | Apr 1998 - Apr 2023 |
| Hong Kong SAR, China (%) | 3.10 Nov 2024 | monthly | Oct 1981 - Nov 2024 |
| Hungary (%) | 4.41 Dec 2024 | monthly | Jan 2000 - Dec 2024 |
| Iceland (%) | 3.35 Dec 2024 | monthly | Jan 2003 - Dec 2024 |
| India (%) | 7.11 2020 | yearly | 1991 - 2020 |
| Indonesia (%) | 4.91 2024 | yearly | 1984 - 2024 |
| Iran (%) | 9.40 Mar 2022 | quarterly | Jun 2001 - Mar 2022 |
| Ireland (%) | 4.10 Jul 2023 | monthly | Jan 1998 - Jul 2023 |
| Israel (%) | 2.64 Dec 2024 | monthly | Jan 2012 - Dec 2024 |
| Italy (%) | 6.22 Dec 2024 | monthly | Jan 1983 - Dec 2024 |
| Ivory Coast (%) | 3.50 2020 | yearly | 1991 - 2020 |
| Japan (%) | 2.40 Dec 2024 | monthly | Jan 1953 - Dec 2024 |
| Jordan (%) | 21.40 May 2024 | quarterly | Feb 2000 - May 2024 |
| Kazakhstan (%) | 4.60 Jan 2025 | monthly | Jan 2001 - Jan 2025 |
| Kenya (%) | 2.98 2020 | yearly | 1991 - 2020 |
| South Korea (%) | 3.70 Dec 2024 | monthly | Jun 1999 - Dec 2024 |
| Kosovo (%) | 10.70 Dec 2023 | quarterly | Mar 2016 - Dec 2023 |
| Kuwait (%) | 0.93 2021 | yearly | 1999 - 2021 |
| Kyrgyzstan (%) | 4.10 2023 | yearly | 1992 - 2023 |
| Laos (%) | 0.95 2020 | yearly | 1991 - 2020 |
| Latvia (%) | 6.80 Dec 2024 | monthly | Jan 1998 - Dec 2024 |
| Lebanon (%) | 29.56 2021 | yearly | 2004 - 2021 |
| Lithuania (%) | 6.50 Dec 2024 | monthly | Jan 1998 - Dec 2024 |
| Luxembourg (%) | 5.86 Dec 2024 | monthly | Jan 1995 - Dec 2024 |
| Macau SAR, China (%) | 1.70 Dec 2024 | monthly | Sep 1996 - Dec 2024 |
| North Macedonia (%) | 12.50 Jun 2024 | quarterly | Mar 2023 - Jun 2024 |
| Malawi (%) | 6.60 2013 | yearly | 2005 - 2013 |
| Malaysia (%) | 3.20 Nov 2024 | monthly | Jan 2010 - Nov 2024 |
| Malta (%) | 3.07 Sep 2024 | quarterly | Mar 2018 - Sep 2024 |
| Mauritius (%) | 7.10 Mar 2020 | quarterly | Mar 2004 - Mar 2020 |
| Mexico (%) | 2.59 Dec 2024 | monthly | Jan 2005 - Dec 2024 |
| Moldova (%) | 5.55 Mar 2023 | quarterly | Mar 1999 - Mar 2023 |
| Mongolia (%) | 6.10 Sep 2024 | quarterly | Sep 2006 - Sep 2024 |
| Montenegro (%) | 11.00 Sep 2024 | quarterly | Mar 2008 - Sep 2024 |
| Morocco (%) | 13.60 Sep 2024 | quarterly | Mar 1999 - Sep 2024 |
| Mozambique (%) | 3.67 2023 | yearly | 1991 - 2023 |
| Myanmar (%) | 1.79 2020 | yearly | 1991 - 2020 |
| Nepal (%) | 4.44 2020 | yearly | 1991 - 2020 |
| Netherlands (%) | 3.10 Jul 2021 | monthly | Jan 2003 - Jul 2021 |
| New Zealand (%) | 5.10 Dec 2024 | quarterly | Mar 1986 - Dec 2024 |
| Nigeria (%) | 4.10 Mar 2023 | quarterly | Dec 2022 - Mar 2023 |
| Norway (%) | 4.00 Nov 2024 | monthly | Jan 1989 - Nov 2024 |
| Oman (%) | 3.30 Dec 2024 | monthly | Mar 2018 - Dec 2024 |
| Pakistan (%) | 6.30 2021 | yearly | 1980 - 2021 |
| Palestinian Territory (%) | 31.10 Jun 2024 | quarterly | Mar 2000 - Jun 2024 |
| Panama (%) | 9.50 2024 | yearly | 2003 - 2024 |
| Paraguay (%) | 5.34 Sep 2024 | quarterly | Mar 2017 - Sep 2024 |
| Peru (%) | 5.53 Dec 2024 | monthly | Mar 2001 - Dec 2024 |
| Philippines (%) | 4.50 Apr 2023 | quarterly | Jul 1982 - Apr 2023 |
| Poland (%) | 5.10 Dec 2024 | monthly | Jan 1990 - Dec 2024 |
| Portugal (%) | 7.20 Jan 2021 | monthly | Feb 1998 - Jan 2021 |
| Qatar (%) | 0.10 2019 | yearly | 1997 - 2019 |
| Romania (%) | 5.60 Apr 2023 | monthly | Jan 2004 - Apr 2023 |
| Russia (%) | 2.40 Jul 2024 | monthly | Jan 1994 - Jul 2024 |
| Saudi Arabia (%) | 3.73 Sep 2024 | quarterly | Mar 2012 - Sep 2024 |
| Serbia (%) | 8.10 Sep 2024 | quarterly | Mar 2014 - Sep 2024 |
| Singapore (%) | 1.90 May 2023 | monthly | Mar 2020 - May 2023 |
| Slovakia (%) | 4.96 Dec 2024 | monthly | Jan 2006 - Dec 2024 |
| Slovenia (%) | 4.40 Sep 2024 | quarterly | Jun 1997 - Sep 2024 |
| South Africa (%) | 32.10 Sep 2024 | quarterly | Mar 2008 - Sep 2024 |
| Spain (%) | 10.61 Dec 2024 | quarterly | Mar 2021 - Dec 2024 |
| Sri Lanka (%) | 4.10 Sep 2024 | quarterly | Mar 2004 - Sep 2024 |
| Sudan (%) | 20.30 2010 | yearly | 1993 - 2010 |
| Sweden (%) | 7.22 Apr 2023 | monthly | Jan 1983 - Apr 2023 |
| Switzerland (%) | 4.91 Sep 2024 | monthly | Jan 1991 - Sep 2024 |
Accurate Macro & Micro Economic Data You Can Trust
Explore the most complete set of 6.6 million time series covering more than 200 economies, 20 industries and 18 macroeconomic sectors.
Learn more about what we doNigeria Key Series
| Government and Public Finance | Last | Frequency | Range |
|---|---|---|---|
| Consolidated Fiscal Balance: % of GDP (%) | -5.7 Sep 2024 | quarterly | Dec 2010 - Sep 2024 |
| Consolidated Fiscal Balance (USD mn) | -2,078.997 Sep 2024 | quarterly | Mar 2005 - Sep 2024 |
| National Government Debt (USD mn) | 86,261.2 Sep 2024 | quarterly | Dec 2006 - Sep 2024 |
| Government Debt: % of GDP (%) | 53.8 Sep 2024 | quarterly | Dec 2010 - Sep 2024 |
| Forecast: Government Expenditure (NGN bn) | 100,505.650 2029 | yearly | 1990 - 2029 |
| Forecast: Government Net Debt (NGN bn) | 285,181.495 2029 | yearly | 1990 - 2029 |
| Forecast: Government Revenue (NGN bn) | 72,588.069 2029 | yearly | 1990 - 2029 |
| Gross Federation Account Revenue (NGN bn) | 6,865.840 Sep 2024 | quarterly | Mar 2005 - Sep 2024 |
| Federal Govt Balance (NGN bn) | -3,301.610 Sep 2024 | quarterly | Mar 2005 - Sep 2024 |
| Federal Govt Expenditure: Capital (NGN bn) | 1,415.860 Sep 2024 | quarterly | Mar 2005 - Sep 2024 |
| Federal Govt Expenditure: Recurrent (NGN bn) | 3,732.590 Sep 2024 | quarterly | Mar 2005 - Sep 2024 |
| Federal Govt Expenditure (NGN bn) | 5,584.150 Sep 2024 | quarterly | Mar 2005 - Sep 2024 |
| Gross Federation Account Revenue: Oil (NGN bn) | 1,304.960 Sep 2024 | quarterly | Mar 2005 - Sep 2024 |
| Federal Govt Revenue (NGN bn) | 2,282.540 Sep 2024 | quarterly | Mar 2005 - Sep 2024 |
| Government Debt: Domestic (NGN bn) | 69,219.806 Sep 2024 | quarterly | Dec 2005 - Sep 2024 |
| Foreign Trade | Last | Frequency | Range |
|---|---|---|---|
| Forecast: Exports of Goods Growth (%) | -1.879 2028 | yearly | 1991 - 2028 |
| Trade Balance (USD mn) | 1,027.6 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Total Exports (USD mn) | 3,738.1 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Total Exports Growth (%) | 56.4 Sep 2024 | monthly | Jan 2004 - Sep 2024 |
| Aluminum: Exports (USD th) | 187,832.450 2023 | yearly | 1995 - 2023 |
| Exports: Medicament (USD th) | 1,530.686 2023 | yearly | 1995 - 2023 |
| Exports: Medicinal and Pharmaceutical Product (USD th) | 329.199 2023 | yearly | 1995 - 2023 |
| Total Imports (USD mn) | 2,989.3 Mar 2023 | monthly | Jan 2003 - Mar 2023 |
| Total Imports Growth (%) | 62.9 Sep 2024 | monthly | Jan 2004 - Sep 2024 |
| Imports: Medicament (USD th) | 614,222.259 2023 | yearly | 1995 - 2023 |
| Imports: Medicinal and Pharmaceutical Product (USD th) | 227,440.624 2023 | yearly | 1995 - 2023 |
| Total Exports to USA (USD mn) | 124.857 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Total Imports from USA (USD mn) | 275.937 Sep 2024 | monthly | Dec 2009 - Sep 2024 |
| Total Exports to China (USD mn) | 105.763 Sep 2024 | monthly | Jan 2007 - Sep 2024 |
| Total Imports from China (USD mn) | 802.488 Sep 2024 | monthly | Jan 2007 - Sep 2024 |
| Imports (NGN mn) | 4,384,900.258 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Exports: Crude Oil (NGN mn) | 3,905,247.850 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Total Trade (NGN mn) | 10,432,090.965 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Imports: Growth Rate: MoM (%) | -35.341 Jun 2024 | monthly | Jan 2019 - Jun 2024 |
| Exports: Growth Rate: MoM (%) | 10.446 Jun 2024 | monthly | Jan 2019 - Jun 2024 |
| Exports: America: ow USA (NGN mn) | 201,983.472 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Exports (NGN mn) | 6,047,190.706 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Exports: Europe: ow Netherlands (NGN mn) | 261,930.167 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Exports: Europe: ow UK (NGN mn) | 180,704.134 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Exports: Mineral Products (NGN mn) | 33,075,147.443 2023 | yearly | 2003 - 2023 |
| Exports: Vegetable Products (NGN mn) | 786,963.687 2023 | yearly | 2003 - 2023 |
| Exports: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) | 53,170.162 2023 | yearly | 2003 - 2023 |
| Imports: Europe: ow Netherlands (NGN mn) | 201,091.335 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Imports: Asia: ow China (NGN mn) | 1,298,198.961 Sep 2024 | monthly | Jan 2007 - Sep 2024 |
| Imports: Europe: ow Germany (NGN mn) | 135,143.103 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Imports: Europe: ow UK (NGN mn) | 134,085.602 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Imports: America: ow USA (NGN mn) | 446,388.165 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Imports: Chemicals and Chemical Products (NGN mn) | 614,100.231 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) | 1,024,863.121 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Imports: Food and Live Animals (NGN mn) | 455,343.676 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Imports: Manufactured Goods (NGN mn) | 488,494.173 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Imports: Machinery and Transport Equipment (NGN mn) | 1,432,150.870 Sep 2024 | monthly | Jan 2003 - Sep 2024 |
| Export Value Index (2015=100) | 93.461 2021 | yearly | 1980 - 2021 |
| Import Value Index (2015=100) | 116.198 2021 | yearly | 1980 - 2021 |
| Balance of Payments | Last | Frequency | Range |
|---|---|---|---|
| Direct Investment Abroad (USD mn) | -831.3 Jun 2024 | quarterly | Mar 2008 - Jun 2024 |
| Current Account Balance (USD mn) | 5,142.5 Jun 2024 | quarterly | Mar 2014 - Jun 2024 |
| Current Account Balance: % of GDP (%) | 11.5 Jun 2024 | quarterly | Mar 2014 - Jun 2024 |
| Foreign Direct Investment (USD mn) | 1,197.6 Mar 2023 | quarterly | Mar 2014 - Mar 2023 |
| Foreign Direct Investment: % of GDP (%) | 1.3 Jun 2024 | quarterly | Mar 2010 - Jun 2024 |
| Foreign Portfolio Investment (USD mn) | 4,416.719 Jun 2024 | quarterly | Mar 2008 - Jun 2024 |
| Foreign Portfolio Investment: % of GDP (%) | 10.0 Jun 2024 | quarterly | Mar 2010 - Jun 2024 |
| Foreign Portfolio Investment: Equity Securities (USD mn) | -309.3 Jun 2024 | quarterly | Mar 2008 - Jun 2024 |
| Foreign Portfolio Investment: Debt Securities (USD mn) | 4,726.039 Jun 2024 | quarterly | Mar 2008 - Jun 2024 |
| External Debt (USD mn) | 43,026.6 Sep 2024 | quarterly | Dec 2006 - Sep 2024 |
| External Debt: % of GDP (%) | 11.9 2023 | yearly | 1985 - 2023 |
| External Debt: Short Term (USD mn) | 1,005.6 2020 | yearly | 2008 - 2020 |
| External Debt: Short Term: % of GDP (%) | 0.2 2020 | yearly | 2008 - 2020 |
| Forecast: Current Account Balance (USD bn) | -5.481 2029 | yearly | 1980 - 2029 |
| Net International Investment Position (USD mn) | -86,263.760 2023 | yearly | 2005 - 2023 |
| External Debt: Service Payments (USD mn) | 194.440 Dec 2018 | quarterly | Mar 2008 - Dec 2018 |
| External Debt: Government (USD mn) | 43,026.550 Sep 2024 | quarterly | Dec 2006 - Sep 2024 |
| External Debt: Government: International Capital Market (USD mn) | 15,118.350 Sep 2024 | quarterly | Mar 2011 - Sep 2024 |
| Monetary | Last | Frequency | Range |
|---|---|---|---|
| Non Performing Loans Ratio (%) | 6.1 2019 | yearly | 2003 - 2019 |
| Non-Performing Loans (USD mn) | 3,315.011 Mar 2021 | quarterly | Mar 2007 - Mar 2021 |
| Money Supply M1 (USD mn) | 21,807.151 Nov 2024 | monthly | Nov 1992 - Nov 2024 |
| Money Supply M2 (USD mn) | 65,496.541 Nov 2024 | monthly | Nov 1992 - Nov 2024 |
| M2 Growth (%) | 52.7 Nov 2024 | monthly | Nov 1993 - Nov 2024 |
| Reserve Requirement Ratio (%) | 50.0 Jan 2025 | monthly | Nov 2005 - Jan 2025 |
| Foreign Exchange Reserves (USD mn) | 35,920.0 Aug 2024 | monthly | Jan 1960 - Aug 2024 |
| Foreign Exchange Reserves: % of GDP (%) | 14.124 Jun 2024 | quarterly | Dec 2010 - Jun 2024 |
| Foreign Exchange Reserves: Months of Import (NA) | 10.7 Aug 2024 | monthly | Jan 2003 - Aug 2024 |
| Gold Reserves (USD mn) | 1,599.957 Jun 2024 | monthly | Dec 1950 - Jun 2024 |
| Total Deposits (USD mn) | 84,213.801 Dec 2019 | monthly | Nov 1992 - Dec 2019 |
| Total Deposits Growth (%) | 2.6 Dec 2019 | monthly | Nov 1993 - Dec 2019 |
| Domestic Credit (USD mn) | 69,482.4 Nov 2024 | monthly | Nov 1992 - Nov 2024 |
| Domestic Credit Growth (%) | 35.4 Nov 2024 | monthly | Nov 1993 - Nov 2024 |
| Private Debt: % of Nominal GDP (%) | 20.83 Jun 2024 | quarterly | Dec 2010 - Jun 2024 |
| Monetary Survey: Liabilities: Base Money (NGN mn) | 30,871,571.250 Nov 2024 | monthly | Jan 1993 - Nov 2024 |
| Monetary Survey: Liabilities: M2 (NGN mn) | 108,946,684.260 Nov 2024 | monthly | Nov 1992 - Nov 2024 |
| Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) | 72,672,756.900 Nov 2024 | monthly | Nov 1992 - Nov 2024 |
| Monetary Survey: Liabilities: M2: M1 (NGN mn) | 36,273,927.360 Nov 2024 | monthly | Nov 1992 - Nov 2024 |
| Monetary Survey: Liabilities: M3 (NGN mn) | 35,345,802.020 Jun 2020 | monthly | Nov 1992 - Jun 2020 |
| Non Performing Loans to Gross Loans (%) | 4.140 Jun 2023 | semiannually | Dec 2003 - Jun 2023 |
| Business and Economic Survey | Last | Frequency | Range |
|---|---|---|---|
| Business Confidence Growth (% Point) | 4.4 Nov 2024 | monthly | Jul 2015 - Nov 2024 |
More Indicators for Nigeria
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