Connect with us

Markets

Online Jobs: 266,797 Applications Chase 14,112 Vacancies— NBS

Published

on

Online payment
  • Online Jobs: 266,797 Applications Chase 14,112 Vacancies

The National Bureau of Statistics, NBS, has said that over 266,797 online applications were made by Nigerians in respect of 14,112 vacancies that existed around the country in the third quarter of 2016.

This, according to an Online Recruitment Report for third quarter, Q3, published by NBS in collaboration with Jobberman Recruitment, the foremost recruitment service company in Nigeria, represents 67.3 percent decrease compared to 815,163 application made in the same quarter in 2015.

However, the number of vacancies increased slightly relative to the previous period. In the third quarter of 2016, there were 14,112 vacancies, compared to 14,005 in the third quarter of 2015. The Report indicated that trade/services sector remained the most preferable to online job seekers, attracting 40.7 percent of the total applications during the period.

The sector also accounted for 73.2 percent of total advertisement for job vacancies. “As in previous quarters considered, applications were concentrated in a few industries. In July and August, over half of all applications were made to the trade/services and consulting industries, although this fell to just under half (48 percent) in September. During the quarter, the top five most popular industries to receive the most number of applications accounted for over 70 percent of total application.

“In July and August, Consulting was the industry to attract the second largest number of applications, and accounted for 15,102 in July, and 11,939 in August, or 17.4 percent and 12.8 percent respectively,” the Report said.

The oil and gas/mining and engineering sectors attracted the highest amount of applications per vacancy. Although at 80 and 68 respectively, the numbers are low relative to the previous quarter in 2015. The Report further indicated that applicants were predominantly male (67.9 per cent) and well educated while 77.5 percent were educated to degree level or higher.

According to NBS, Lagos State accounted for the largest number of applicants and vacancies during the period, followed by Abuja with 7,624, or 10.3 percent of the total applications. This is a similar proportion to that recorded in the previous report (2016 Q1) of 10.4 per cent.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Crude Oil

COVID-19 Plunges Nigeria’s Oil Revenue by 41% in the First Nine Months of 2020

Published

on

naira

COVID-19 Plunges Nigeria’s Oil Revenue by 41% in the First Nine Months of 2020

Nigeria’s oil revenue declined by 41.44 percent in the first nine months of 2020 to $2.033 billion, according to the latest data from the Nigerian National Petroleum Corporation, NNPC.

This represents a decline of 41.44 percent from $3.47 billion filed in the same period of 2019 when there was no COVID-19.

In the September 2020 edition of NNPC’s Monthly Financial and Operations Report (MFOR), revenue from oil and gas rose by 16 percent to $120.49 million in the month of September, a 66 percent or $234.81 million drop from $355.3 million posted in the same month of 2019.

The global lockdowns caused by the COVID-19 pandemic plunged Nigeria’s crude oil sales and global demand for the commodity. This was further compounded by Nigeria’s high cost of production compared to Saudi Arabia, Russia and others that were offering discounts to boost sales during one of the most challenging periods in human history.

Experts like Prof. Yinka Omorogbe, President of Nigeria Association of Energy Economics, NAEE, were not surprised with the drop in earnings given the effect of COVID-19 on the world’s economy.

She, however, called for the revamp of the nation’s petroleum sector laws and diversification of the economy away from oil revenue dependence. She said “Covid-19 made 2020 a very hot year and it battered the oil industry internationally and we are not an exception; so we could not have been unaffected”.

She also said the effect of the fall “is definitely a wake-up call; we have to diversify, strengthen our other resources and capabilities”.

Omorogbe, a former NNPC Board Secretary, urged the government and the operators in the sector to look inward and think strategically, stating: “think medium term, think of where they want to be and the government, above all, must think of how best we can utilize our resources, so that we can achieve our objectives once we know and define them.

“It is a clear wake-up call, if not we will just sit here and find that we have become one of the poorest nations in the world”, she noted.

Continue Reading

Commodities

Crude Oil, Other Commodities Closing Price for Monday

Published

on

Crude oil

Crude Oil, Other Commodities Closing Price for Monday

Brent crude oil, Nigeria’s crude oil benchmark, gained 47 cents to $55.88 per barrel on Monday, while the US crude oil expanded by 50 cents to $52.77 per barrel.

Gold for February delivery fell $1 to $1,855.20 an ounce. Silver for March delivery fell 7 cents to $25.48 an ounce and March copper was little changed at $3.63 a pound.

The dollar fell to 103.80 Japanese yen from 103.83 yen. The euro fell to $1.2139 from $1.2167.

Wholesale gasoline for February delivery rose 1 cent to $1.56 a gallon. February heating oil rose 2 cents to $1.59 a gallon. February natural gas rose 16 cents to $2.60 per 1,000 cubic feet.

Continue Reading

Gold

Gold Gained Ahead of Joe Biden Inauguration 2021

Published

on

Gold

Gold Gained Ahead of Joe Biden Inauguration 2021

Gold price rose from one and a half month low on Tuesday ahead of President-elect Joe Biden’s inauguration on Wednesday.

The precious metal, largely regarded as a haven asset by investors, edged up by 0.2 percent to $1,844.52 per ounce on Tuesday, up from $1,802.61 on Monday.

According to Michael McCarthy, the Chief Market Strategies, CMC Markets, the surged in gold price is a result of the projected drop in dollar value or uncertainty.

He said, “The key factor appears to be the (U.S.) currency.”

As expected, a change in administration comes with the change in economic policies, especially taking into consideration the peculiarities of the present situation. In fact, even though Biden, Janet Yellen and the rest of the new cabinet are expected to go all out on additional stimulus with the support of Democrats controlled Houses, economic uncertainties with rising COVID-19 cases and slow vaccine distribution remained a huge concern.

Also, the effectiveness of the vaccines can not be ascertained until wider rollout.

Still, which policy would be halted or sustained by the incoming administration remained a concern that has forced many investors to once again flee other assets for Gold ahead of tomorrow’s inauguration.

Continue Reading

Trending