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World of Statistics rates Nigeria as global unemployment capital

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A new statistic released by the World of Statistics has placed Nigeria as the leading country in the world with the highest unemployment rate.

In the report published in its website, the USA-based organisation said Nigeria leads the rest of the world with 33.3 per cent, followed by South Africa 32.9 per cent, and Iran which comes in at third place with 15.55 per cent.

On the positive side, the report stated that the lowest rate of unemployment for the period under review was in countries like Qatar with 0.1 per cent, Cambodia, 0.36 per cent, and Niger Republic at 0.5 per cent.

A recent report by multinational consulting firm, KPMG, had also noted that the unemployment rate in Nigeria had increased to 37.7per cent in 2022, and would further rise to 40.6 per cent by the end of 2023 due to the continuing inflow of job seekers into the job market.

“The unemployment rate in Nigeria would continue to be a challenge due to the slower-than-required economic growth, and the inability of the economy to absorb the 4-5 million new entrants into the Nigerian job market every year,” the KPMG report had said.

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Nigeria: Army denies reports of plans to establish French military base in the country

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The Nigerian Army has debunked reports claiming that the French military was planning to establish a base in Nigeria.

The rumours gained momentum on social media and some traditional media platforms following President Bola Tinubu’s recent visit to France where he met with his French counterpart, Emmanuel Macron.

But a statement on Monday by the Director, Defence Media Operations, Major General Edward Buba, said the clarification was necessitated by reports doing the rounds that French soldiers had arrived in the country in preparation to set up a base in Maiduguri, Borno State.

“The attention of Defence Headquarters has been drawn to online reports alleging the arrival of the first contingent of French soldiers in Maiduguri towards establishing a French Military base in North East Nigeria,” Buba said.

“The Armed Forces of Nigeria hereby state unequivocally that this information is fake, totally false and mischievous.

“It would be recalled that Chief of Defence Staff, General Christopher Musa CFR, recently addressed this matter in different media forums. In which he debunked the news and such speculations.

“It is clear that these are the antics of mischief makers,” the defence spokesman saif.

Buba also urged the general public to disregard the news and speculations still making rounds in some quarters, adding that the military will continue to carry out its constitutional responsibilities, most professionally and ensure the territorial integrity of Nigeria.

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Zambia: President Hichilema launches Zambezi Economic Free Zone 

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Zambian President, Hakainde Hichilema, has launched the Zambezi Economic Free Zone in Kazungula District, Southern Province, a project that is estimated to create over 1,000 direct jobs and transform the local economy.

The President who spoke during the groundbreaking ceremony of the 17,000-hectare development in Kazungula on Saturday, described the initiative as transformative with the potential to stimulate economic growth and attract significant foreign investment.

The project which is spearheaded by investors from the United Arab Emirates (UAE), is situated in Chief Sekute’s area and aims to boost investment in key service sectors, including housing, healthcare, education, convention centers, and corporate headquarters.

“The anticipated benefits include skills development, technological advancements, and substantial infrastructure improvements,” Hichilema said.

He emphasized that the zone would position the country as a hub for global investment and innovation while delivering tangible benefits to local communities with the global recognition of free economic zones as catalysts for growth.

“These zones offer incentives, simplified regulations, and enhanced infrastructure, creating an environment conducive to investment, job creation, and the transfer of skills and technology,” he noted.

President Hichilema added that the project was “designed to attract investors, retirees, and workers from around the world, including Zambian stakeholders, encouraging their active participation in this unique development model” as well as drive economic development not only in Kazungula and Livingstone but across Zambia.

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