The National Bureau of Statistics (NBS) in the Labour Force Statistics released this week indicates Kogi State is one of only 9 states out of 36 which recorded a reduction in unemployment and underemployment rates despite a general increase in the overall national rate.
The latest NBS report further showed that the New Direction Agenda of Governor Yahaya Bello’s administration is yielding good results.
The establishment of Kogi State Internal Revenue Service (KGIRS), Rice Processing Mill, World Diagnostic Centre and others have created employment for thousands of people.
Apart from that, Governor Yahaya Bello has attracted more investors to Kogi through his business friendly policies, security and diversification of state economy to mining, agribusiness, manufacturing among others
According to NBS report, Between Q3 2017 and Q3 2018, only 9 States recorded a reduction in their unemployment rates despite an increase in the national unemployment rate. They include: Akwa Ibom, Enugu, Imo, Kaduna, Kogi, Lagos, Nasarawa, Ondo and Rivers.
The report read: ”The same states recorded reduction in their combined unemployment and underemployment rates.
”The six 6 States that recorded the highest gains in net full time employment between Q3 2017 and Q2 2018 include Lagos adding 740,146 net full time jobs, Rivers (235,438), Imo(197,147), Ondo (142,514), Enugu (122,333), Kaduna (118,929).”
Kogi state recorded the second highest labor force population during the quarter. It recorded an unemployment rate of 19.7% (20.65% in Q3 2017) and an underemployment rate of 24.8% in the period under review. This was a decline of 0.9 percentage points in unemployment and an increase of 3.5 percentage points in the level of underemployment when compared to the levels recorded in Q3, 2017.
During the same period, Kogi state labor force population recorded an increase of 124,735 or 5.3% from the number recorded in Q3 2017. The total net (created minus lost) number of employed persons (full time and part-time/underemployed) increased by 136,400 persons within Q3 2017 and Q3 2018.
Findings revealed that three Cassava processing companies recently set up their large capacity factories in Kogi state, thereby creating direct market for farmers, increase their revenue, expand business and encourage youths to embrace farming.
Similarly, the increment in Kogi Internally Generated Revenue from N1billion from N300million monthly. It therefore clear that Governor Yahaya Bello is building sustainable economy for the state his innovative policies.