News
Persons without jobs hit 402m in 2024 globally
The number of unemployed individuals globally has reached 402 million in 2024.
This information was disclosed by the International Labour Organisation (ILO) in the May edition of its World Employment and Social Outlook report.
The report clarifies that the global ‘Jobs Gap’ measures those who are jobless but desire employment.
The ILO stated that the 402 million figure includes 183 million people classified as unemployed.
Further analysis revealed that the jobs gap for women in low-income countries, including Nigeria, is a notable 22.8 percent, compared to 15.3 percent for men. In high-income countries, the rate is 9.7 percent for women and 7.3 percent for men.
The report also noted that globally, 45.6 percent of working-age women will be employed in 2024, in contrast to 69.2 percent of men.
However, it predicts that the global unemployment rate will decrease to 4.9 percent from 5 percent in 2023.
Commenting on the report, ILO Director-General Gilbert Houngbo said:
“Today’s report highlights significant employment challenges that remain unaddressed. Despite efforts to reduce global inequalities, the labor market continues to be uneven, especially for women.
“To achieve sustainable recovery that benefits everyone, we must implement inclusive policies considering the needs of all workers. Inclusion and social justice must be central to our policies and institutions. Failing to do so will hinder our goal of ensuring strong and inclusive development.”
This development coincides with Nigeria’s unemployment rate rising to 5 percent in the third quarter of 2023 from 4.2 percent in the second quarter.
Dangote Refinery has announced that it will need to export 95-97 percent of its Premium Motor Spirit (petrol) due to low interest from Nigerian marketers. The refinery, which processes 650,000 barrels per day, revealed that only 3 to 5 percent of petrol marketers are purchasing its fuel.
Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, shared these details during an X Space session hosted by Nairametrics on Wednesday. He highlighted the challenges facing both the Dangote Refinery and Nigeria’s oil and gas sector.
Edwin explained, “I’m selling 2 to 3 percent to small traders who are willing to buy, while the remaining 95 to 97 percent has to be exported,” referring to the local sales of the refinery’s products.
This situation arises as the NNPCL’s deadline for adjusting the Dangote Refinery’s fuel distribution approaches without a clear plan in sight. It is worth noting that while Aliko Dangote, President of Dangote Group, has announced the refinery’s initial petrol rollout, its distribution to marketers is contingent upon NNPCL’s decisions.
The final sixteen teams for the 2024 FIFA U-20 Women’s World Cup in Colombia have been determined following the conclusion of the group stage.
In recent matches, Ghana triumphed over New Zealand with a score of 3-1, and Japan secured a 2-0 victory against Austria.
As a result, Japan has advanced to the Round of 16, joining the other 15 teams in this knockout stage.
The Round of 16 matches are scheduled for Wednesday, Thursday, and Friday.
The full lineup for the Round of 16 is as follows:
- Spain vs Canada
- Brazil vs Cameroon
- Colombia vs South Korea
- Mexico vs USA
- North Korea vs Austria
- Germany vs Argentina
- Netherlands vs France
- Japan vs Nigeria
The Nigerian Army has refuted claims of widespread resignations among its soldiers due to issues like corruption and low morale.
In a statement, Major General Onyema Nwachukwu, Director of Army Public Relations, dismissed these reports as unfounded.
A news outlet had alleged that numerous Nigerian soldiers were resigning because of corruption and low morale. However, the statement condemned these allegations as misleading and a deliberate attempt to create discontent and undermine the Nigerian Army’s reputation and the dedication of its personnel.
Major General Nwachukwu clarified that, similar to other military organizations worldwide, service in the Nigerian Army is voluntary rather than mandatory. This means that personnel have the freedom to resign following established procedures.
He explained that the resignation process allows personnel to prepare and manage their entitlements, including pensions and gratuities, as outlined in the Harmonized Terms and Conditions of Service (Officers/Soldiers).
Contrary to the report’s implications, the statement emphasized that Nigerian Army personnel are highly motivated, and their welfare is a priority under the leadership of Chief of Army Staff, Lieutenant General Taoreed Lagbaja.
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