The World Bank has issued a report which concludes that nearly half of Nigeria’s population lives in poverty, despite an unemployment rate of just five percent. The report, ‘Why do so many Nigerian workers remain poor?’ suggests that the type of employment, whether wage or self-employment, is crucial to the levels of poverty. It stated that Nigerians who hold wage jobs experience significantly lower poverty rates than those in other types of employment. However, such jobs are limited with only 15% of Nigerians holding such positions.

Education, while helpful in obtaining wage work, was not automatically an escape from poverty. More importantly, most wage jobs don’t provide essential benefits like social security contributions, written contracts, and paid leave. The report underlined that the nature of jobs, dominated by small businesses, do not require high skills. Thus, limiting the demand for high-skilled labour and precluding opportunities for higher wages.

In these circumstances, the report argued that not just nature but also the number of work hours are important. It highlighted the issue of underemployment, where workers are not able to get enough hours to earn their required income. According to the report, these issues are more significant than the unemployment rate, and thus, the solution lies in improving job quality and productivity.

Lastly, the World Bank report stressed on the need for policies that align with the demands of the economy, develop firm growth, improve productivity in household enterprises and bridge the skill gap between education and employment. It emphasizes the importance of focusing on job quality and productivity as key factors in addressing poverty in Nigeria.

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