Nigeria, Feb. 20 -- Nigeria's unemployment rate rose to 5 per cent in the third quarter of 2023, the National Bureau of Statistics has said.

The bureau said this in its Nigeria Labour Force Survey (NLFS) report for Q3 2023 released on Monday.

The NBS said the rate is an increase of 0.8 per cent from Q2 2023 (4.2 per cent).

"The unemployment rate increased significantly in Q3 2023 at 5.0 per cent. This is an increase of 0.8 per cent from Q2 2023," the NBS said.

A breakdown of the report showed that the labour force participation rate among the working-age population declined to 79.5 per cent in Q3 2023 compared to 80.4 per cent in Q2 2023.

It said the employment-to-population ratio was 75.6 per cent in Q3 2023 with a decrease of 1.5 p...