Intro NGN 39 billion was spend in the telecom sector in 2021-2022 for various marketing communication Overview of Telecom Spend in Nigeria. Telecom industry is one of the highest spender in marketing communications in Nigeria. The industry leveraged on top programs across all media touchpoints to sustain presence and drive engagement. Brands in the sector compete for spots in top programs like football, reality shows and other highly engaging events to create and sustain brand affinity. 2021-2022 Industry Spend Telecom industry spend 2021-2022 The chart above shows the monthly industry spend by telecom brands in Nigeria (top brands). NGN 19.8B was expended in 2021 into various marketing communication initiatives across TV, radio, outdoor, and press touchpoin...
Definition Of Terms
Labor Force
The total number of persons that are employed or seeking employment in a particular area.
Employment
Employment means an individual is actively been engaged in a paid occupation.
Unemployment
A state at which a person who is capable of working, available to work, and actively seeking work is unable to get a job.
Underemployment
It is a state in which an individual is involved in a job that is below his/her skill. An engineer working as a clerk is under employed.
Labor Market
Is an environment where employer and employees interact to exchange skills and talents for labor services.
Employment Rate
The employment rate is the percentage of the working-age population that is currently employed.
The International Labor Organization (ILO) Standard
The ILO standard was adopted by Nigeria in 2014 as a measure of labor force performance in the country. The standard entails the following:
- Working age: 15- 64 years
- Employed: if you work more than 20 hours in a week
- Unemployed: if you work below 20 hours in a week.
- Under-employed: working for 20-39 hours.
The New Nigeria Labor Force Standard
- Working age: 15 and above.
- Employed: Engaging in any activity (no matter the duration) within the week that produces goods or services for pay or profit.
- Unemployed: Did nothing for pay or employment
- Under-employed: work less than 40 hours.
IMPLICATIONS
The new standard has caused unemployment rate to reduce by 29% ( from 5.3% to 4.1%). It has far reaching implications, unfortunately more harm than good.
Poor Wage
in a country with the minimum wage of N30, 000 ($33.33), counting 1 hour labor per week as employment is a recipe for disaster. The hourly rate in Nigeria is N42 (at minimum wage). It means a person that work for an hour a week earning N42 could be counted as employed.
Discrepancy Between Poverty and Employment:
Nigeria is presently the poverty capital of the world, with over 40% of the population living below the poverty line. This standard will improve employment ranking of the country without corresponding improvement in the HDI and poverty status of the people.
A Recipe For Inefficiency In Government
The country has been very unlucky with leadership. This would give them 'statistics' to quote as a measure of their performance.
False Productivity
This standard gives the notion that their is increased in productivity in the country. Thereby leading to increased employment. However, reverse is true.
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