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IMPACT OF UNEMPLOYMENT ON NIGERIAN ECONOMIC DEVELOPMENT: A STUDY OF SELECTED LOCAL GOVERNMENT AREA IN ANAMBRA STATE, NIGERIA
Abstract
The problem of unemployment in Nigeria is a national issue that should be handled with care. The rate of unemployment in Nigeria since 1973 has been growing in a geometric progression. Its source could be traced to the diversification of Nigeria economy into oil sector that only provides less than 10% employment opportunity to its labour force. The purpose of this study was to find out the causes of unemployment in Nigeria and how it has impeded the economic development. These and others form the researcher’s reason for this study. Descriptive research design was adopted. The population includes all the unemployed youth from the three selected Local Government Council (Oyi, Idemili North and South) which its figure is estimated to be about 2.3 million youth (NPC, 2006). 30 youths were drawn from each of the Local Government Council. Convenience sampling technique was applied. Both primary and secondary data source was used. Pearson correlation test was used for the test of hypotheses. The results of the test hypotheses revealed that unemployment impedes the economic growth and development of Nigeria. Government programmes have in many ways helped in tackling the problems of unemployment in Nigeria. There are possible ways that could be put forward in ensuring the reduction of unemployment level in Nigeria. Furthermore, the paper recommends that the federal government should hasten the power sector reforms and re-stabilize the power sector to end the looming energy crisis in Nigeria. In order to encourage entrepreneurial activities which are believed to be the remote cause of unemployment problem in Nigeria?
Keywords: Unemployment, Economic Development, Causes and Consequences, Way forward