Taiwo Oyedele, the Chairman of the Presidential Fiscal Policy and Tax Reform Committee, disclosed that approximately eighty-one percent of employed Nigerians are not contributing to any productive sector of the economy.
Oyedele highlighted this issue, stating that despite Nigeria’s relatively low unemployment rate of four point two percent, a significant portion of the employed population is not adding meaningful value to the country’s economy.
“About eighty-one percent of people in employment in Nigeria are engaged in a non-productive sector of the economy. They are doing things that do not add value in the real sense of the world.” He said.
Speaking at the Africa Trade and Investment Summit on Thursday, Oyedele drew attention to the fact that Nigeria shares the same unemployment rate as the United Kingdom.
As reported by Dailytrust, he emphasized that a large percentage of the working population in Nigeria is engaged in non-productive sectors, indicating a need for a shift towards creating jobs that contribute to genuine economic growth.