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Youth Unemployment and Its Perceived Impact on Nigeria’s Economic Growth

Abdulsalam Idowu Sulaiman

Abstract

Youth unemployment is a crucial issue in Nigeria; it contributes to various social-economic and security challenges in various part of the country. The number of unemployment youths continues to increase leading to prevalence economic hardship and criminal activities. This study examines the impact of youth unemployment in Nigeria’s economic growth. The study adopted a survey research design, using a random sampling of 300 respondents drawn from selected locations within Ibadan North Local Government Area of Oyo State. The findings revealed that limited job opportunities in the country, insufficient educational and vocational training, high competition for the few available jobs, economic instability reducing job creation and lack of entrepreneurial support funding jointly contribute to the high rate of joblessness among youths in the community. The study further revealed that youth unemployment reduces Nigeria’s productive capacity, contributes to loss of national income and tax revenue, increases cybercrime and political thuggery in the society and leads some youths to drug abuse these undermine prospects for sustainable economic growth. The study recommends that entrepreneurship and ICT training should be incorporated into secondary school curricula, skills acquisition such as digital training, agribusiness and renewable energy should be introducing to the youth so as to reduce dependable on limited white-collar job. Also, government should establish an enterprise fund with single-digit interest loans and business support to address lack of entrepreneurial funding.

Keywords

Youth UnemploymentSecurity ChallengeEconomic GrowthNigeria.

References

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