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Jonathan’s Economic Policy ‘Failing’ - UN

In what appears to be an indictment on President Goodluck Jonathan’s administration, the United Nations, in a report has said that Nigeria’s unemployment rate has increased in the last two years under Mr. Jonathan’s watch, from 21.1 per cent in 2010 to 23.9 per cent currently.

The report shows that about one in four Nigerians are currently unemployed. Nigeria also has one of the worst youth unemployment rates in sub-Saharan Africa as 37.7 per cent – two in five – of Nigerian youth are unemployed.

These were stated in a 291-page publication called ‘The African Economic Outlook 2012’, and jointly published by the United Nations Economic Commission for Africa, UNECA; the United Nations Development Population, UNDP; the African Development Bank Group; and the Organization of Economic Cooperation and Development.

The publication, launched on Thursday in Addis Ababa, was presented by the Director, Economic Department, NEPAD division of UNECA, Emmanuel Nnadozie. The publication, which is the 11th edition, however, described Nigeria’s economic growth in 2011 as “robust.”

The robust growth recorded in Nigeria’s economy, according to the publication, was driven mainly by the non-oil sector, and in particular, telecommunications, construction, wholesale/retail trade, hotel and restaurant services, manufacturing, and agriculture.

• Article sourced from: http://news.naij.com/8679.html. 

• Published on: 14th September, 2012.