EFFECT OF UNEMPLOYMENT ON THE ECONOMIC DEVELOPMENT OF NIGERIA
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EFFECT OF UNEMPLOYMENT ON THE ECONOMIC DEVELOPMENT OF NIGERIA
ABSTRACT
This study focuses on the effect of unemployment on Nigeria’s economic development in Nkanu West, Enugu State. The research aims are to: identify variables that cause unemployment in Nigeria, investigate the extent to which the government has assisted in addressing unemployment problems in Nigeria, and suggest programmes that can help to address unemployment problems in Nigeria.
The researcher used both primary and secondary methods to acquire data. The study’s population was randomly selected at 234 and the sample size was 148. Taro Yamane’s formula was utilised, and the hypotheses were tested using chi-square.
The research work also made the following findings; the research study reveals that unemployment impedes economic development in Nigeria. It was also discovered that epileptic electric power supply, poor quality of education, negligence of agriculture, and corruption are among the causes of unemployment in Nigeria.
Nigeria is at its lowest ebb in human capital development and utilisation because of its inadequate educational system, which tends to produce more of those who It was suggested that the government spend more in industries in order to absorb unemployed graduates
and that the government make more efforts to ensure the stability of our electric power supply, which will benefit the nation’s development.
Chapter one
INTRODUCTION
1.1 Background of the Study.
As history shows, Nigeria has faced various sorts of economic, political, and social upheaval. Unemployment, caused by both individuals and government pressures, has recently been added to the list of social evils in Nigeria.
Unemployment has become a global topic that requires more attention, albeit the impact is particularly catastrophic in underdeveloped countries (Wamukonya, 2003).
According to the National Bureau of Statistics (2012), Nigeria’s unemployment rate is 19.7%. In fact, Feridum and Akindele (2006), George and Oseni (2012), Ezie (2012), and Ede, Ndubisi, and Nwankwo (2013) all highlight unemployment as a major obstacle to Nigeria’s economic progress.
The threat of unemployment in Nigeria, both now and in the past, has been a source of tremendous anxiety for economists, policymakers, economic managers, individuals, the government, and many others. (Bello; 2003). This early economic thought provided a fundamental point of reflection on the undesirable nature of unemployment (Njoku and Ihugba, 2011).
Unemployment is described as a condition in which persons who are eager and capable of working are unable to obtain suitable paid work (Fajana 2000).
The same author went on to state that the higher the unemployment rate in an economy, the greater the level of poverty and associated welfare concerns.
However, the number of individuals in any country is separated into two categories: economically active and economically inactive. Njoku and Ihugba (2011) define the economically active group (labour force) as those who are willing and able to work, including those who are actively involved in the production of goods and services (employed) as well as those who are unemployed.
On the other hand, the economically inactive group includes neither individuals who are not looking for work nor those who are unable to work due to health difficulties.
To add to this, the International Labour Organisation (ILO) defines unemployment as the number of economically active persons who are unemployed but accessible and looking for work, including those who have lost their jobs and those who have willingly quit their jobs (World Bank, 1998).
Unemployment is on the rise, with serious consequences for Nigeria’s economic progress. According to Njoku James and Eze (2011), the effects of unemployment in Nigeria include not only an increase in crime rates, but also an impact on the country’s economic progress.
They go on to say that people who should be economically active and contribute to the country’s economic progress are not doing so. As a result, the purpose of this research was to investigate the impact of unemployment on Nigerian economic development, utilising Nkanu West Local Government Area as a case study.
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