As an individual, you have a role to play in making Nigeria a better place by combating this issue. Resultantly, Nigeria’s rate of unemployment rose to an unimaginable 27.1% in the second quarter of 2020 – the highest in the history of Nigeria. Point 1: Skills are not enough. SOLVING UNEMPLOYMENT AND YOUTH ENTREPRENEURSHIP IN NIGERIA CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Unemployment, both of the educated and the uneducated manpower, has become one of the most topical and thorny issues in contemporary Nigeria. In conclusion national directorate of employment stands as one of the yardsticks for finding solution to the problems of unemployment so there is need to increase the activities of NDE so as to attract more people to the programme. In 2020, a statistical analytical finding from the International Labour Organisation, an agency of the United Nations developing policies to set labour standards says the estimated youth unemployment rate in Nigeria is at almost 14.2 per cent. Nigeria unemployment rate for 2019 was 8.10%, a 0.15% decline from 2018.; Nigeria unemployment rate for 2018 was 8.24%, a 0.15% decline from 2017.; Nigeria unemployment rate for 2017 was 8.39%, a 1.33% increase from 2016.; Nigeria unemployment rate for 2016 was 7.06%, a … The National Bureau of Statistics, NBS, on Friday, August 14, 2020, released the statistics on unemployment for the second quarter, Q2, of 2020 after a long hiatus since the third quarter, Q3, of 2018. You might wonder why the percentage rate for youth unemployment is this small. What could be that role? Gone are the days … Kindly Share This Story:By Odewale Abayomi THE National Bureau of Statistics, NBS, on Friday, August 14, 2020, released the statistics on unemployment for the second quarter, Q2, of 2020 after a long hiatus since the third quarter, Q3, of 2018. The chairman of the economic advisory council (EAC), Doyin Salami on Wednesday stated that Nigeria needs to create 19 million jobs annually to solve the problem of unemployment. Nigeria’s unemployment rate for the second quarter of 2020 rose to a record-high 27.1% in the newly released figures by the National Bureau of Statistics.. That is, 21,764,614 Nigerians are presently unemployed. This has propelled 14 young Africans from Nigeria and Ghana to curb unemployment in Nigeria and the Africa continent as a whole. There are a number of ways by which the natural rate of unemployment can be solved. This figure includes those that have experienced job loss, and those that have recently joined the labor force (recent graduates and former housewives/stay home husbands). The standard of education is really low in Nigeria. Similarly, another data reveals youths’ unemployment rate in Nigeria as at the second quarter of 2020 is 27.1% indicating that about 21,764,614 … In this case reducing the influence of trades unions (or reducing Minimum wages) will help solve this real wage unemployment. By RECRUITMENT GATE STAFF September 19, 2020 No Comments. Unemployment theories. N-Power not solving Nigeria’s unemployment problem. Unemployment in Nigeria is the situation whereby some people who fall within the ages of the working population, capable and willing to work, are not able to due to certain conditions. 3. This will encourage investments and thereby create jobs for the unemployed youths. The solution for unemployment is, of course, to create new jobs. In 2020, the estimated youth unemployment rate in Nigeria was at almost 14.2 percent. Doyin Salami, chairman of the economic advisory council (EAC), says Nigeria needs to create 19 million jobs annually to solve the problem of unemployment. Unemployment Rate in Nigeria increased to 7.50 percent in the first quarter of 2015 from 6.40 percent in the fourth quarter of 2014. For example the unemployment rate of Nigerians since the second quarter of 2019 (Q2) till the third quarter of 2018 (Q3) has been 16.20-18.80-20.42-21.83-22.73-23.13 respectively which displays a steady increment in the unemployment rates of youths and citizens Nigeria: National Bureau of Statistics. Looking to an already overwhelmed government to solve these problems may be unwise even with government initiatives such as the Economic Recovery Growth Plan (ERGP), Trader Moni, N-Power, and other programmes targeted at the twin problems of poverty and unemployment. Mr. Obasanjo gave advice on Thursday, speaking about the topic “Unemployment in Nigeria: way out” at the job fair at Obafemi Avolovo University, Ile-Ife. If you pay close attention to media in recent time, there has been so much motivation and encouragement from various governments and individuals, advising the unemployed youths in Africa to look at Agriculture and farming as solution to the unemployment problem. Governments at all levels may also go into partnership with private individuals to establish industries, with the private partner providing the driving force. The level of youth unemployment in an African country called Nigeria is high and one of the reasons for that is because of the high corrupt government the country has been under for years now. Unemployment refers to the share of the labor force that is without work but available for and seeking employment. In Nigeria, the 2018 NBS statistics point to 23.3 per cent unemployment figure with youth unemployment at over 40 per cent. Former President Olusegun Obasanjo called for job creation for young people, especially in the agricultural sector, to tackle unemployment in Nigeria. That's when the government steps in. The job training programs are specifically catered to Nigeria’s youth population and are targeting a variety of different industries from Agriculture to Scriptwriting. Since there is no real offer in Nigeria, there is no demand as a result. Firms could be given tax breaks or subsidies for taking on long-term unemployed. The broad aim of this study is to explore the problem-solving of graduate unemployment in Nigeria,while the specific objectives are to: (i) unravel the causal factors of unemployment among university graduates in Nigeria, (ii) examine the economic and social consequences of graduate unemployment in the country This helps give them new confidence and on the job training. Unemployment rate in Nigeria is reported by the National Bureau of Statistics, Nigeria. Some possible ways by which the government and the people can work together to solve long term unemployment are. unemployment problem in Nigeria Ishola Saheed Ademola, Adeyemo Adewale Michael Abstract— SME or small scale business is described as the engine for rapid growth due to its numerous benefits such as employment generation and contribution to the GDP. Image courtesy of cbenjasuwan at FreeDigitalPhotos.net. In just their […] In 2016, 50,000 to 110,00 jobs per month needed to be created to prevent the unemployment level from rising. Apparently, within two years, the unemployment rate in Nigeria rose by four per cent. In addition, you can set up an internet business by becoming a blogger, website designer, and copywriter, to reduce unemployment in Nigeria. In the last quarter of 2016, the unemployment rate in Nigeria increased from 10.4% to 14.2% earlier this year. Employment subsidies. Also, the findings revealed that unemployment in Nigeria increased from 21.1% in 2010 to 23.9% in 2011 with youth unemployment at over 50%. Unemployment problem in Nigeria affects all levels of life.. To overcome unemployment, it is necessary to create a certain executive body, which would take responsibility to give clear instructions to solve the problem of unemployment and control it. According to the source, the data are estimates from the International Labour Organization, an agency of … N-Power Not Solving Nigeria’s Unemployment Problems. Nigeria’s unemployment problem is rapidly getting out of hand, with around twenty-two million unable to work and unable to earn. Policy regarding seasonal unemployment: Seasonal unemployment is found in agriculture sector … And this is what Kickstart continues to achieve with its youth-centered scheme. Enough funds should also be provided for the directorate to make them more products. Although Nigeria’s youth unemployment rate is high, it is a problem that the government and the people of Nigeria and its partners are intent on solving. In solving the problem of unemployment in Nigeria, there is the need for the Nigerian Government to provide necessary infrastructure to make the nation’s industrial climate investment friendly. Poor Standard Of Education. Well, this is because the […] SOLVING THE PROBLEM OF UNEMPLOYMENT IN NIGERIA . In Nigeria, SMEs defined as any enterprise with a maximum assets of N500 million ($4.2 million) It has constituted itself into one of the worst enemies of the […] When unemployment creeps above 6% to 7% and stays there, it means the economy can't create enough new jobs.
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