Labour Productivity in Nigeria 2010 – 2016
Measuring productivity and its growth at firm and national levels is very important because it constitutes important economic indicators that can be used to inform policy decisions. Today, the only strategy for sustainable growth that translates into improvements in real incomes and welfare is Productivity. Thus, it is considered a key source of economic growth and competitiveness and, as such, internationally comparable indicators of productivity are central for assessing economic performance.
Labour productivity Indicators are important because its increase lays a foundation for enormous expansion of outputs, reduction in unit costs of goods and services and innovation. It is also useful for determining workers compensation and bonuses. This publication presents a broad overview of recent trends in labour productivity levels and growth in Nigeria. It highlights the key measurement issues faced when compiling labour productivity across-countries for comparisons. The work examines the role of labour productivity as one of the main drivers of economic growth during the period 2010 to 2016. It also looks at the contribution of economic sectors to productivity as well as their labour productivity levels.
This version of Labour Productivity Indicators has been prepared by the Productivity Measurement & Index Department of the Centre, with contributions from several relevant agencies of government but it is noteworthy to mention that particular thanks go to National Bureau of Statistics for helpful primary data. Finally, it is my hope that the work will help guide the decisions of government, private and public sectors and investors concerning labour.
August 19, 2021
August 19, 2021