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In the fourth of 2020, the unemployment rate in Nigeria reached 33.28 percent. Between 2015 and 2020, the unemployment rate grew. In particular, in 2017 the unemployment rate registered the fastest growth, increasing by about six percentage points during the year. However, this data were calculated according to the Nigerian methodology. Based on the most common international methodology, the unemployment rate in Nigeria stood at 17.5 percent.
The NEW Nigeria methodology defines as unemployed labor force who did not work at all or worked for less than 20 hours a week. The international definition, instead, include people aged 15 years to 64 years old who were available for work, actively seeking work, but were unable to find work.