The IMF urged countries across the African region to “transform informality to formality”.
Rising Waters, Sinking Dreams: Devastating impact of floods on Maiduguri local businessesDeluge of Death: Flood leaves Nigerian community in ruinsHow Ukraine’s Superhuman Centre is helping war heroes walk againEDITORIAL: Nigerians should resist plots to hijack LG funds despite Supreme Court verdictRising Waters, Sinking Dreams: Devastating impact of floods on Maiduguri local businessesDeluge of Death: Flood leaves Nigerian community in ruinsHow Ukraine’s Superhuman Centre is helping war heroes...
However, data from the statistics bureau said the underemployment rate fell from 12.3 per cent in 2023Q3 to 10.6 per cent in 2024Q1, amid concerns over cost of living.Support journalism driven by facts, created by Nigerians for Nigerians. Our thorough, researched reporting relies on the support of readers like you.In Ghana, where high cost of living and illegal mining that has devastated local water bodies remain topical issues, unemployment has touched 14 per cent.
Although firm creation rate is high across the region, firm growth remains constrained due to structural issues. Earlier in the month, while speaking at the Hamburg Sustainability Conference, World Bank President Ajay Banga noted that job creation must be prioritised by governments across Africa.On Monday, as part of effort to create jobs, the IMF economists noted that Subsaharan African countries must address barriers to growth, develop local capital markets, prioritise crucial infrastructure such as electricity, and tackle corruption and redtapism.
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