Unemployment Rate in Nigeria: Agenda for Government

Abstract

Nigeria has no business being rated among poor nations of the world given its human and natural resources. But in reality, this dreaded scenario is the naked truth that stares unashamedly on the faces of everyone living in the polity. Statistically speaking in the last couple of years, Nigeria’s economy is one of the fastest-growing in the world while its people are the most impoverished in real terms. The events of last March 15, where millions of people scampered for about 4500 job vacancies advertised by the Nigeria Immigration Service leading to the death of about eighteen of them in an unwarranted stampede betrays the idiosyncrasy of the Nation’s nominal growth without corresponding development. With global unemployment projected to reach over 215 million by 2018, experts fear that Africa, particularly Nigeria’s share of the global scourge might increase disproportionately, with attendant unsavoury consequences unless the country immediately adopts pro-active and holistic approach to halt the rising youth unemployment.

DOI: 10.5901/ajis.2014.v3n4p103