Labour experts are concerned about the high rate of informal employment in the country, which may result in significant tax revenue losses for the government.
Reacting to the National Bureau of Statistics report that stated that 92.6 percent of individuals employed in Nigeria were involved in informal work in the first quarter of 2023, the labour experts called on the government to formulate policies to migrate more Nigerians to formal employment.
The National Assistant General Secretary of Nigeria Labour Congress, Chris Onyeka, having informal employment in the country as high as 92 per cent was an indictment on the government.
According to him, if NBS is saying 92 per cent is employed in the informal sector, it means that only eight per cent have formal employment.