GTB 737 banner Yudala banner

Nigeria’s labour productivity rises

By News Express on 09/06/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 259


The National Bureau of Statistics (NBS) said that the country saw a rise in labour productivity in the fourth quarter of 2016, the highest levels since first quarter of 2015.

The NBS said this in its Labour Productivity for Fourth Quarter of 2016 Report released on Thursday in Abuja.

The bureau stated that while the overall level of productivity was high, there were several challenges that generally impacted on the output of labour, and indirectly on labour productivity, keeping it below optimal levels.

It stated that some of the issues faced during the quarter spilled over from first quarter through third quarter of 2016.

Some of the issues were the decline in the Gross Domestic Product (GDP), high unemployment rate and infrastructural challenges.

Nigeria economy, though showing signs of recovery, recorded its 4th consecutive quarter of negative growth in the fourth quarter of 2016, with the economy declining by 1.58 per cent.

The constraints on productivity of labour and other factor inputs continued to put a drag on overall economic growth and this was further exacerbated in the fourth quarter of 2016.

A growing unemployment rate of 14.2 per cent in the quarter, up from 13.9 per cent in the third quarter of 2016, coupled with existing infrastructural challenges, remain considerable threats to realising Nigeria’s full economic and productivity potential.

The bureau, however, stated that investment in the economy was still relatively low, though some government investments were recorded during the quarter.

According to the report, the volume of private investment and Foreign Direct Investments (FDIs) are still considerably low compared to previous years.

The NBS said that power was relatively stable during the quarter, which partly accounted for the increase in labour productivity but was still lower than the required levels.

The bureau stated that the growth in labour productivity implied a gradual increase in labour efficiency employed in the economy, the third consecutive quarterly rise.

It stated that the nature of productivity in the fourth quarter also gave an idea of the main drivers of the growth in labour productivity.

The report, noted that the agriculture sector was the main driver which recorded a growth of 3.39 per cent.

According to the report, the percentage was the highest among any major economic activity, with parts of the fourth quarter being the harvest season in the Nigerian agricultural calendar.

This, the report stated may well have added to the growth in labour productivity in fourth quarter of 2016.

It stated that other major activities that contributed to productivity during the quarter were transportation and the creative sectors of the economy.

The report stated that though both activities were relatively low weights compared to other activities like agriculture.

It stated that their strong growth during the quarter and the high number of labour they engaged would have contributed to the labour productivity during the quarter.

The report further showed the annual trend in total GDP, number of hours worked as well as the derived labour productivity for the period 2011 to 2016.

It stated that labour productivity increased by 9.8 per cent on quarterly basis and 10.8 per cent year-on- year in the period under review. (NAN)

Source News Express

Posted 09/06/2017 12:34 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Hajj 2017: Azman, Max Air, Medview to airlift...

Stop representing PDP, Sheriff tells Gana

Breaking News: Jeff wins 2015 Project Fame West...

EFCC investigator exposes ex-NIMASA DG, others over stolen...

Shoprite CEO pockets N1.15 billion bonus, takes home...

Shettima succeeds Aliyu as Northern Governors’ Forum Chairman...

Over 1,000 arrested in Gabon post-election violence

Ohanaeze tasks Buhari: Stop herdsmen attacks in Igboland...

Court strikes out bail application in alleged N8bn...

Angry players block Okorocha over unpaid salaries

Petroleum, cement equities lift trading on NSE

Invasion of Judges Homes: Democracy under threat, says...

 

Latest News Cultists murder 2 brothers for failing to produce sibling for initiation •Family lives in fear Air Force bombers scatter gathering of insurgents, set structures on fire Nigeria to take on Argentina in friendly in Russia Nov. 14 250,000 Nigerian women die of cancer annually Southern Governors meet in Lagos 21,650 write UI post-UTME exam Shehu Sani dares Buhari to include cabals in lists of looters Africa’s vision getting close to reality — UN General Assembly President Being Aare Ona Kakanfo doesn’t mean I’ll die early, says Gani Adams Buhari directs Ministry to convene summit on education Coronation anniversary: Obaseki salutes Oba Ewuare II, lauds inspiring partnership with govt It will be a cloudy Sunday but with sunny conditions up North, says NiMet

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (287,767 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (270,443 views) Shameless Genevieve Nnaji exposes breasts in public (218,346 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (183,778 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (179,497 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (162,195 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (140,580 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (128,738 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (123,654 views) Lagos plane crash: Journalist releases victims’ names (114,189 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (112,168 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (104,533 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (30) Business (2,731) Business Verdict (24) Columnists (757) Complaints & Requests (93) Enterprise & Opportunities (183) Entertainment (396) Features (497) Global Business Monitor (187) International (1,584) Interviews (134) Live Commentary (28) Love Matters (79) News (29,520) Opinion (826) Pidgin (8) Politics (3,989) Religion (645) Sports (1,339) Stock Watch (23) AMA & Al Jazeera Global Update

 

UBA mobile app

CBN Words on marble

 

 

#MonkeyPox outbreak

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!