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148,369 Nigerians were employed in nine months of 2012 – Survey

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A total of 148,369 out of the estimated 40 millions unemployed Nigerians were formally employed as at the end of September, 2012, a third quarter of 2012 job creation survey conducted across about twelve sectors of the nation’s economy, has revealed.
The survey, conducted by National Bureau of Statistics which showed job distribution by sex and occupation, both in managerial and low ranking cadres, covered key sectors like educational, business services/sales, health, manufacturing, agriculture, hospitality, information technology, road transport, personal services, and legal/social service sectors among others.
The report obtained by Financial Vanguard revealed that the distraught educational sector employed the highest number of people, while agricultural sector, probably weighed down by years of neglect, was at the bottom of the ladder.
The educational sector, surprisingly, was followed by the manufacturing sector, and then business services, sales and marketing sector, while the medical/health profession followed suite. The educational sector, which came top in the list, employed a total of 70,183 people, representing 52.7 percent of the job created in the third quarter of 2012.
Out of this, secondary school education teachers accounted for 29,308, followed by primary school and early childhood teachers with a total number of 16,970 employees. This was followed by university and higher education teachers with 9,757 employees; vocational educational teachers trailed behind with 7,244, while other teaching professional accounted for 6,904.
While 35,798 were female employees, the male workers accounted for the remaining 34,385 people.
A total of 12,199 people were employed in the position of managing directors, secretaries and clerks, making it the second the second highest employer of labour in quarter three 2012. In the position of managing directors/chief executives were106 people; administrative and specilaised secretaries, 549; general office clerks, 4,072; secretaries (general), 1,605; keyboard operators 96; tellers, money collectors and related clerks, 972; client information workers, 329; numerical clerks, 318; material-recording and transport clerks, 28; other clerical support workers, 1,132; cashier and ticket clerks, 2,992.
Manufacturing/construction & mining sector trailed behind, accounting for 10,726 of total job creation within the period with manufacturing labourers employing the chunk of 2,558;  manufacturing, mining, construction and distribution managers, 315; mining, manufacturing and construction supervisors, 45; garment and related trades workers, 80; mining and mineral processing plant operators, 362; metal processing and finishing plant operators, 286; Chemical and photographic products plant and machine operators, 164; Rubber, plastic and paper products machine operators, 1,278; textiles, fur and leather products machine operators, 833; other stationary plant and machine operators, 2451; mobile plant operators, 826; mining & construction labourers, 434; process control technicians, 268; food processing and related trades workers, 795; assemblers, 31.
The business services, sales and marketing sector accounted for10,686 of total job creation within the period with business service and administration managers accounting for 3,563 of the number. Sales, marketing and public relation professionals followed with 2,536 employees in the sector; sales, marketing & development managers trailed behind with 1,551. Professional services managers pooled 549 total employees, while other services managers accounted for 98 of the total number.

Business service agents represented 240, retail and whole sale mangers accounted for 104, while protective services workers accounted for 2,144 workers in the sector.
3,799 employees in the sector were female, while the male workers accounted for the remaining 6,887 workers.
Employment in the personal services accounted for 8,630 of total job creation with child care workers and teachers’ aides employing 418 people; building and house keeping supervisors, 87; other personal services workers, 1,236; street and market sales person, 277; shop salespersons, 707; other sales workers, 1,531; domestic, hotel and office and helpers, 3,862; vehicle, window, laundry and other hand cleaning workers, 512.
Health sector had 7,413 employees with nursing and midwifery professionals accounting for the highest number – 3,999; medical doctors, 601; traditional and complementary medicine professionals, two; paramedical practitioners, 79; Veterinarians, two; other health professionals, 894; medical and pharmaceutical technicians, 182; nursing and midwifery associate professionals, 889; veterinary technician and assistants, 13; other health associated health professionals, 700; and life science technicians and related associate professional, 52.
Road transport sector accounted for 6,360 total employments with travel attendants, conductors and guides netting 729; locomotive engine divers and related workers, 230; car, van and motorcycle drivers, 3,071; heavy truck and bus divers, 2,301; while ship’ deck crews and related workers accounted for 29 workers.
Other professional services accounted for 3,542 jobs created in the country within the period. Physical and earth science professionals netted 118; engineering professionals (excluding electro technology), 421; electro technology engineers, 199; architects, planners, surveyors and designers, 1,055; librarian archivists and curators, 172; legal professionals, 532; social and religious professionals, 19; creative and performing artists, 38; physical and engineering science technicians, 298; financial and mathematical associate professionals, 548; regulatory government associate professionals, artistic, cultural and culinary associate professionals, 71; legal, social and religious associate professionals, 71.
Agriculture sector accounted for mere 3,213 employments in the whole of the federation, according to the survey. Production managers in agriculture, forestry and fisheries were 48; market gardeners and crop growers, 90; animal producers, 16; mixed crop and animal producers, 16; forestry and related workers, 175; fishery workers, hunters and trappers, 51; subsistence crop farmers, 55; subsistence livestock farmers, 138; subsistence mixed crop and livestock farmers, 232; agricultural, forestry and fishery labourers, 2,392; The number of artisans employed within the period stood at 3,199 with building frames and related trade workers representing 232 of the total workforce in the sector; building finishers and related trades workers, 145; painters, building structure cleaners and related trades workers, 52; sheet and structural metal workers, moulders and welders, 376; blacksmiths, toolmakers and related trades workers,  465; machinery mechanics and repairs, 819; handicraft workers, 159; printing trades workers, 252; electrical equipment installers and repairers, 191; hair dressers, beauticians and related workers, 358; wood treaters, cabinet-makers and related trades workers, 150 Hospitality sector employed only 2,833 people. Hotel and restaurant managers accounted for 1,076 of the employment; cooks, 1,041; bartenders and waiters, 716.
Despite the thriving business in the information & communication technology sector since the boom in 2000, it employed only 2,449 people during the period. Information and communications technology service managers as at the time were 98 in number; software and applications developers and analysis, 548; database and network professionals 263; information and communications technology operations and use, 1,261; telecommunications and broadcasting technicians, 279.

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Economy

Nigeria champions African-Arab trade to boost agribusiness, industrial growth

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The Arab Africa Trade Bridges (AATB) Program and the Federal Republic of Nigeria formalized a partnership with the signing of the AATB Membership Agreement, officially welcoming Nigeria as the Program’s newest member country. The signing ceremony took place in Abuja on the sidelines of the 5th AATB Board of Governors Meeting, hosted by the Federal Government of Nigeria.

The Membership Agreement was signed by Eng. Adeeb Y. Al Aama, the CEO of the International Islamic Trade Finance Corporation (ITFC) and AATB Program Secretary General, and H.E. Mr. Wale Edun, Minister of Finance and Coordinating Minister of the Economy, Federal Republic of Nigeria. The Agreement will provide a strategic and operational framework to support Nigeria’s efforts in trade competitiveness, promote export diversification, strengthen priority value chains, and advance capacity-building efforts in line with national development priorities. Areas of collaboration will include trade promotion, agribusiness modernization, SME development, businessmen missions, trade facilitation, logistics efficiency, and digital trade readiness.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, called for deeper trade collaboration between African and Arab nations, stressing the importance of value-added Agribusiness and industrial partnerships for regional growth. Speaking in Abuja at the Agribusiness Matchmaking Forum ahead of the AATB Board of Governors Meeting, the Minister said the shifting global economy makes it essential for African and Arab nations to rely more on regional cooperation, investment and shared markets.

He highlighted projections showing Arab-Africa trade could grow by more than US$37 billion in the next three years and urged partners to prioritize value addition rather than raw commodity exports. He noted that Nigeria’s growing industrial base and upcoming National Single Window reforms will support efficiency, investment and private-sector expansion.

“This is a moment to turn opportunity into action”, he said. “By working together, we can build stronger value chains, create jobs and support prosperity across our regions”, Edun emphasized. “As African and Arab nations embark on this journey of deeper trade collaboration, the potential for growth and development is vast. With a shared vision and commitment to value-added partnerships, we can unlock new opportunities, drive economic growth, and create a brighter future for our people.”

Speaking during the event, Eng. Adeeb Y. Al Aama, Chief Executive Officer of ITFC and Secretary General of the AATB Program, stated: “We are pleased to welcome Nigeria to be part of the AATB Program. Nigeria stands as one of Africa’s most dynamic and resilient economies in Africa, with a rapidly expanding private sector and strong potential across agribusiness, energy, manufacturing, and digital industries. Through this Membership Agreement, we look forward to collaborating closely with Nigerian institutions to strengthen value chains, expand regional market access, enhance trade finance and investment opportunities, and support the country’s development priorities.”

The signing of this Agreement underscores AATB’s continued engagement with African countries and its evolving portfolio of programs supporting trade and investment. In recent years, AATB has worked on initiatives across agribusiness, textiles, logistics, digital trade, export readiness under the AfCFTA framework, and other regional initiatives such as the Common African Agro-Parks (CAAPs) Programme.

With Nigeria’s accession, the AATB Program extends it’s presence in the region and adds a key partner working toward advancing trade-led development and fostering inclusive economic growth.

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Economy

FEC approves 2026–2028 MTEF, projects N34.33trn revenue 

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Federal Executive Council (FEC) has approved the 2026–2028 Medium-Term Expenditure Framework (MTEF), a key fiscal document that outlines Nigeria’s revenue expectations, macroeconomic assumptions, and spending priorities for the next three years. The approval followed Wednesday’s FEC meeting presided over by President Bola Tinubu at the State House, Abuja. The Minister of Budget and Economic Planning, Senator Atiku Bagudu made this known after the meeting.

The Minister said the Federal Government is projecting a total revenue inflow of N34.33 trillion in 2026, including N4.98 trillion expected from government-owned enterprises. Bagudu said that the projected revenue is N6.55 trillion lower than earlier estimates, adding that federal allocations are expected to drop by about N9.4 trillion, representing a 16% decline compared to the 2025 budget.

He said that statutory transfers are expected to amount to about N3 trillion within the same fiscal year. On macroeconomic assumptions, FEC adopted an oil production benchmark of 2.6 million barrels per day (mbpd) for 2026, although a more conservative 1.8 mbpd will be used for budgeting purposes. An oil price benchmark of $64 per barrel and an exchange rate of N1,512 per dollar were also approved.

Bagudu said the exchange rate assumption reflects projections tied to economic and political developments ahead of the 2027 general elections. He said the exchange rate assumption took into account the fiscal outlook ahead of the 2027 general elections.

The minister said that all the parameters were based on macroeconomic analysis by the Budget Office and other relevant agencies. Bagudu said FEC also reviewed comments from cabinet members before approving the Medium-Term Fiscal Expenditure Ceiling (MFTEC), which sets expenditure limits. Earlier, the Senate approved the external borrowing plan of $21.5 billion presented by President Tinubu for consideration The loans, according to the Senate, were part of the MTEF and Fiscal Strategy Paper (FSP) for the 2025 budget.

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Economy

CBN hikes interest on treasury Bills above inflation rate

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The spot rate on Nigerian Treasury bills has been increased by 146 basis points by the Central Bank of Nigeria (CBN) following tight subscription levels at the main auction on Wednesday. The spot rate on Treasury bills with one-year maturity has now surpassed Nigeria’s 16.05% inflation by 145 basis points following a recent decision to keep the policy rate at 27%. 

The Apex Bank came to the primary market with N700 billion Treasury bills offer size across standard tenors, including 91-day, 182-day and 364 day maturities. Details from the auction results showed that demand settled slightly above the total offers as investors began to seek higher returns on naira assets despite disinflation.

Total subscription came in at about N775 billion versus N700 billion offers floated at the main auction. The results showed rising appetite for duration as investors parked about 90% of their bids on Nigerian Treasury bills with 364 days maturity. The CBN opened N100 billion worth of 91 days bills for subscription, but the offer received underwhelming bids totalling N44.17 billion.

The CBN allotted N42.80 billion for the short-term instrument at the spot rate of 15.30%, the same as the previous auction. Total demand for 182 days Nigerian Treasury bills settled at N33.38 billion as against N150 billion that the authority pushed out for subscription. The CBN raised N30.36 billion from 182 days bills allotted to investors at the spot rate of 15.50%, the same as the previous auction.

Investors staked N697.29 billion on N450 billion in 364-day Treasury bills that was offered for subscription. The CBN raised N636.46 billion from the longest tenor at the spot rate of 17.50%, up from 16.04% at the previous auction.

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