Jobs/Appointments
Nigeria’s Unemployment Rate Declines to 4.3% in Q2 2024

By Adedapo Adesanya
The unemployment rate in Nigeria declined to 4.3 per cent in the second quarter of 2024, according to the latest report released on Monday by the National Bureau of Statistics (NBS).
This rate is lower than the 5.3 per cent recorded in Q1 2024, reflecting a gradual recovery from the 5.0 per cent in Q3 2023.
According to global standards introduced by the International Labour Organisation (ILO), an employed person is defined as anyone working at least one hour a week, unlike the old methodology where a person had to work at least 20 hours a week to be considered employed.
The methodology introduced other fresh benchmarks as well. The sample size was widened to 34,250 as against 33,000. Also, the data will be gathered weekly as against quarterly in the previous method.
The NBS, in the latest Nigeria Labour Force Survey (NLFS), said a statistical survey designed to collect comprehensive data on employment, unemployment, and other characteristics of the population labour force. It provides quarterly estimates of the main labour force statistics with sufficient precision at the national level.
The Labour Force Participation Rate rose to 79.5 per cent, up from 77.3 per cent in the previous quarter, highlighting increased workforce engagement, as the Employment-to-Population Ratio also showed significant improvement, climbing to 76.1 per cent in Q2 2024 from 73.2 per cent in Q1 2024, indicating that a higher proportion of the working-age population was gainfully employed during the period.
Also, self-employment remained dominant, accounting for 85.6 per cent of total employment, an increase from 84 per cent in the preceding quarter.
Informal employment also rose slightly to 93.0 per cent, highlighting the economy’s reliance on informal jobs, as urban unemployment stood at 5.2 per cent, a reduction from 6.0 per cent in Q1 2024, while rural areas recorded an even lower unemployment rate of 2.8 per cent, compared to 4.3 per cent in the previous quarter.
This disparity highlights the continued role of agriculture and informal activities in rural employment, contrasting with the urban dependence on formal and service-driven jobs.
The youth unemployment rate (ages 15–24) dropped significantly to 6.5 per cent, compared to 8.4 per cent in Q1 2024.
The report further revealed gender disparities, with the unemployment rate for females at 5.1 per cent, compared to 3.4 per cent for males, suggesting a need for targeted gender-inclusive policies to bridge the employment gap.
“The unemployment rate is defined as the share of the labour force not employed but actively searching for and available for work.
“Unemployment is one of the components of labour underutilisation. The unemployment rate for Q2 2024 was 4.3 per cent, showing an increase of 0.1 percentage point compared to the same period last year,” the report stated, noting that the unemployment rate among males was 3.4 per cent and 5.1 per cent among females.
“By place of residence, the unemployment rate was 5.2 per cent in urban areas and 2.8 per cent in rural areas. Youth unemployment rate was 6.5 per cent in Q2 2024, showing a decrease from 8.4 per cent in Q1 2024,” the NBS said.
Time-related underemployment, which measures workers seeking additional hours, dropped to 9.2 per cent in Q2 2024 from 10.6 per cent in Q1.
Labour underutilisation metrics also improved, with LU2 (unemployment and time-related underemployment) decreasing to 13.0 per cent from 15.3 per cent in the previous quarter.
LU3 and LU4 metrics, which include potential labour force participation, also recorded declines to 5.9 per cent and 14.5 per cent, respectively.
The participation rates between males and females are nearly the same, with males at 79.9.5 per cent and females at 79.1 per cent.
This minimal difference suggests a balanced level of engagement across genders, indicating that gender is not a significant factor in labour participation.
Participation rates show notable differences by residence and disability status. In rural areas, participation is higher at 83.2 per cent compared to 77.2 per cent in urban areas.
A more significant gap existed between those with and without disabilities.
While 80.0 per cent of individuals without disabilities participate in labour-related activities, only 36.7 per cent of those with disabilities do, highlighting the need for greater inclusivity and targeted support to improve engagement among persons with disabilities (PWDs).
Jobs/Appointments
Xprizo Appoints Alex Cachia as Chief Information Officer

By Modupe Gbadeyanka
A cutting-edge iGaming fintech platform, Xprizo, has picked Mr Alex Cachia as its Chief Information Officer (CIO).
He is joining the firm with 24 years of experience in technology leadership, with expertise in FinTech, gaming, and affiliate marketing.
During this time, he completed several projects in technical debt reduction, marketing tech strategies, and security enhancements in affiliate marketing.
Mr Cashia will focus on building a high-performing tech organisation to support Xprizo’s expansive growth plans. A key element will be maximising investment value and business objectives that deliver social impact and business success.
Xprizo believes this appointment will lead to a significant commercial growth by harnessing technology to empower underserved communities around the globe.
Additional efforts will be targeted at regulatory compliance, and data-driven decision-making.
As CIO, he’ll be tasked with aligning technology investments with business objectives, increasing automation, and creating a culture of continuous improvement.
“Alex arrives at Xprizo with extensive experience in scaling technology, inspiring innovation and establishing operational excellence.
“The team is ready to take a step forward under his leadership and adeptness with cutting-edge solutions to achieve our mission of financial inclusion,” the CVO of Xprizo, Mr Richard Mifsud, stated.
Commenting on his appointment, Mr Cachia said, “I’m excited to join Xprizo at this time – I love the product and the goal of fostering financial inclusion. There are massive growth prospects on the horizon, and I cannot wait to bridge the gap for underserved communities around the world.”
Jobs/Appointments
Uche Uzoebo Succeeds Ronke Kuye as SANEF CEO

By Modupe Gbadeyanka
Mrs Uche Uzoebo has been appointed as the new chief executive of Shared Agent Network Expansion Facilities (SANEF) Limited.
Her appointment, according to a statement from the organisation on Monday, became effective February 2025 and she replaces Mrs Ronke Kuye, who was the pioneer head of the firm.
SANEF serves as an enabler in the economic and financial inclusion ecosystem in Nigeria, collaborating with various stakeholders to expand the frontiers of financial inclusion.
Mrs Uzoebo is expected to use her experience to help SANEF achieve excellence, greater growth, development and expansion to the benefit of stakeholders in the ecosystem.
She is to also build on the growth and success recorded by her predecessor in the company’s core mandate of expanding and deepening financial inclusion and agent banking.
Prior to her new role, Mrs Uzoebo served as the Chief Distribution and Stakeholder Engagement Officer of SANEF and is credited with driving business, stakeholder expansion and strategic initiatives that have enabled the organisation to meet its core objectives through agent expansion, account opening, product and services, technology solutions, policy advocacy, stakeholder engagement, financial literacy, capacity building and awareness.
She also, collaborated closely with regulators, banks, financial service providers, developmental organizations, enterprise support organizations, non-governmental organizations, private sector, government agencies to expand financial access points, digital financial services, economic and financial inclusion through agent networks, financial literacy and innovative technology solutions.
The new CEO of SANEF is a passionate and renowned expert in financial inclusion, digital transformation, inclusive finance and women empowerment in Nigeria.
With over two decades of cognate experience in banking and financial services, she has established herself as a thought leader and passionate advocate for financial literacy and advocacy, training, inclusive finance, women empowerment and breaking economic barriers.
Her strong business acumen and leadership qualities have driven the advancement of digital financial services, economic and financial inclusion in the ecosystem.
Mrs Uzoebo has led strategic project initiatives focused on expanding economic inclusion and diligently worked on empowering women as a gender specialist and advocate with special focus on supporting women entrepreneurs; digitally transformed businesses and society.
As a reputable certified trainer, she has delivered high-impact training and well-tailored programmes to deepen knowledge and thought leadership. She has also contributed to published works, spoken at fintech and finance-related conferences, thereby providing a strong voice in advancing financial inclusion and digital payment. Her practice engagements involve policy and strategic management interventions.
Mrs Uzoebo is a certified Product Manager, certified licensed National Business Development Service Provider (BDSP), member of the Association of International Product Marketing and Management (AIPMM), Global Women in Management (GWIM), Honorary Senior Member (HCIB) – the Chartered Institute of Bankers of Nigeria (CIBN), a fellow of Acumen, West Africa and a fellow of The Microfinance Association, UK.
Jobs/Appointments
AXA Mansard Tasks Business Leaders on Enabling Environment for Multigenerational Workforce, Others

By Aduragbemi Omiyale
Business leaders and managers have been charged to create the right environment for Diversity, Equity, Inclusion, and Belonging (DEIB), technology adoption, and a multigenerational workforce to thrive.
The chief executive of AXA Mansard Insurance Plc, Ms Rashidat Adebisi, at a chat with the members of the Society for Women Accountants of Nigeria (SWAN), the female arm of the Institute of Chartered Account of Nigeria (ICAN), said among other evolving workplace trends of the 21st century, these factors would redefine how organizations operate and perform.
According to her, business leaders must pay close attention to these trends, embrace them and create environments where they can enable productivity.
She warned that companies that fail to integrate the changes brought about by new workforce trends risk falling behind in today’s increasingly competitive and digital economy.
Ms Adebisi said the importance of a diverse, equitable, included workforce cannot be overstated, noting that in Nigeria and worldwide, women remain underrepresented in executive roles, with women occupying only 24 per cent of directors’ seats on the top 30 capitalized companies on the Nigerian Exchange (NGX) Limited, according to a March 2021 report by KPMG.
She stressed the need for organizations to go beyond token representation and implement policies supporting women’s advancement into leadership roles.
Additionally, she noted that issues such as ageism, BSc-HND discrimination, and accessibility for professionals with disabilities continue to create barriers for talented individuals.
She urged organizations to develop systems to eliminate these biases, focus on competency-based hiring, and foster inclusive work environments that empower employees of all backgrounds.
On the importance of a multigenerational workforce, Ms Adebisi noted that today’s workforce now spans four generations, from Baby Boomers to Generation Z, making it more diverse than ever before.
“Each generation brings unique strengths. Baby Boomers and Generation X offer experience, while Millennials and Gen Z drive digital innovation and agility,” she said.
The insurance practitioner explained that businesses must intentionally create structures that allow these generations to collaborate effectively so the organizations can harness the opportunities for higher productivity and better problem-solving outcomes.
“Despite the opportunities, many companies still struggle with the generational divides in communication, belongingness, and work styles and expectations.
“Technology remains a major driver of workplace evolution. The adoption of AI, automation, blockchain, and cloud computing is reshaping industries, from accounting to insurance and other sectors.
“No matter how small, one can hardly think about a business not investing in digital transformation today. Yet many employees of these organizations lack the skills to fully leverage these advancements for personal and business growth,” she stated.
Ms Adebisi emphasized that business leaders must prioritize upskilling and digital literacy programs to ensure their workforce is equipped to navigate the new era technology has brought to the workplace.
She cited examples of how FinTech and digital accounting solutions are revolutionizing financial management, allowing accountants and business leaders to make data-driven decisions faster and more accurately, saying, “Every industry is going through a similar journey to do things faster, cheaper, and better with technology.”
She explained that while these technology trends are placing new demands on every facet of the workplace, leaders have a higher responsibility of not just investing in talent and skill development but also creating an environment that can unlock the opportunities that technology brings to business operations.
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