IMPLICATIONS OF INSECURITY AND YOUTH UNEMPLOYMENT ON ECONOMIC DEVELOPMENT OF

IMPLICATIONS OF INSECURITY AND YOUTH UNEMPLOYMENT ON ECONOMIC DEVELOPMENT OF

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Background to the Study

Insecurity and unemployment remains one of the most critical problems the country is facing, of course coming after insecurity. Nigeria, the most populous country in Africa and the second largest economy on the continent with a population of over 150 million, is endowed with diverse and abundant human, material and capital resources. Sadly, however, years of unbridled corruption, mis - management and sheer waste have hindered economic growth in the country. Consequently, the nation’s resources have been left underutilized leading to unemployment and abject poverty, the twin evils which experts believe may scuttle the attainment of the Millennium Development Goals (Adebayo, 2021).

Ake, (2021) opined that the emergence and persistence of massive youth joblessness, declining well being of majority of Nigerians despite significant endowment of human and natural resources raise three fundamental questions which this research work attempts to provide some answers.

Unemployment occurs when people are without work and actively seeking work. The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force. Unemployment occurs when a person who is actively searching for employment is unable to find work. Unemployment is often used as a measure of the health of the economy. The most frequently cited measure of unemployment is the unemployment rate. This is the number of unemployed persons divided by the number of people in the labor force (Adebayo, 2021).

According to a recent World Bank statistics, youth unemployment rate is 38 percent, but realistically, 80 per cent of Nigerian youths are unemployed with secondary school-leavers mostly found among unemployed rural population accounting for about half of this figure, while university and polytechnic graduates make up the figure. What seems to be more worrisome is the fact that the nation’s universities and polytechnics continue to churn out more than 150,000 graduates annually and available jobs remain inadequate to keep pace with the ever-expanding army of job seekers(Summers, 2018).

Not long ago, a Federal Government agency put up an advertisement for recruitment and on the D-day, the mammoth crowd of applicants was so much that the officials of the agency could not control, resulting in the deaths of some of the applicants due to exhaustion and probably as a result of hypoglycemia arising from not taking any meal before leaving for the venue of the recruitment. Similarly, another agency of the Federal Government recently opted for recruitment through online registration, perhaps to prevent the kind of mayhem discussed above and probably to reduce the number of applicants, but the number of applications they received was 120,000, jostling for the mere 25 vacant positions. (Simonazzi & Vianello, 2021).

The problem of unemployment is so bad that the Minister of Finance and the Coordinating Minister of the Economy, Dr. Ngozi Okonjo Iweala, recently confessed that she is losing her sleep on the issue. The Federal Government has lamented that Nigeria may not be able to meet the Millennium Development Goals by 2015 due to the challenges posed by unemployment. This view was similarly corroborated by the Senior Special Assistant to the President on the Millennium Development Goals, Dr. Precious Gbeneol, on the occasion of the World Science Day for Peace and Development, held in Abuja recently.

Summers, (2018) opined that the security situation in the country caused by incessant attacks by insurgents in the North and kidnapping in the South-East is part of the numerous causes of unemployment due to the fact that no investor will like to put his money where he will be afraid of moving freely.

It is pertinent that if the current spate of unemployment continues unabated, many of these graduates will eventually be recruited into the rank of oil theft syndicates, armed robbers, kidnappers, militants and insurgents; while their female counterparts will end up as prostitutes. Therefore, to reduce the problem of unemployment in the country, the individuals concerned, the private sector and government at all levels, must put in place creative measures to stem the tide (Alika, 2015).

Poorly skilled individuals are replete in all sectors of the nation’s economy and to address this, acquisition of vocational skills has been identified as a tool for moulding employable individuals as unemployed individuals need more skills than they already have to find new jobs. Graduates of various institutions should be encouraged to acquire vocational skills that can prepare them for self-employment and financial independence because with paid employment, one earns a living but with self-employment one’s earning is unlimited.

Statement of the Problem

The state of insecurity in Nigeria is becoming worrisome considering the  high rate at which  innocent  people fall to the guns of criminals in the country. The Federal government is spending heavily on the military. The Nigerian Police Force has always received vehicles and communication gadgets in the name of curbing insecurity in the country, yet the situation remains without solution. The security strategies of the combined force of the military are not yielding substantial   result.

“Nigeria as a country is often described as a rich country majority of poor citizens where 50% of the Citizens live below poverty level. Unemployment has been a problem in Nigeria, especially since 1980, when the nation's economy took a turn for the worse as world petroleum prices tumbled, the Nigerian currency became devalued, corruption became rampant, and the population of Nigeria ballooned at a breathtaking pace. The resultant poverty has posed questions about the wisdom of conventional strategies for national development.

Many decades ago, Nigeria was perceived one of the richest countries in Africa because of her great petroleum reserves and large population. Ironically, the most dominant feature of the Nigerian economy is unemployment and poverty (Adebayo, 2021).  There is a need for a development plan that will revitalize the economy of Nigeria, and thereby provide relevant strategies for combating unemployment and poverty in Nigeria.

Objectives to the Study

The general aim of the study is to examine implications of insecurity and youth unemployment on economic development of Nigeria..The specific objective of the study is to;

i.        Know the impact of insecurity and youth unemployment in Nigeria.   

ii.      Examine the impact of youth unemployment in the socio-economic system of Nigeria.

iii.      Proffer solution to the problem of insecurity and youth unemployment in Nigeria.

iv.      Examine the implications of insecurity and youth unemployment for development in Nigeria.

 Research Questions

The following questions have been prepared for the study

i.        What is the impact of insecurity and youth unemployment on economic development in Nigeria?   

ii.       What is the impact of youth unemployment in the socio-economic system of Nigeria?

iii.      What are the solution to the problem of insecurity and youth unemployment in Nigeria?

iv.      What is the implications of insecurity and youth unemployment for development in Nigeria?

Research Hypothesis

H0: There is no implications of insecurity and youth unemployment on the development of Nigeria

HA: There is no implications of insecurity and youth unemployment on the development of Nigeria

Significance Of The Study

This research work is significant to the extent that it provides exposition to past studies and findings in this subject area. Also, this study will compliment the previous study and add to the body of knowledge in this study area. Such that both past and currents studies will provide basis for corporate decision making.               

Finally, the study will be significant to future researchers who will want to undergo study on any area related to insecurity and youth unemployment in Nigeria and its implication for development.

Scope Of The Study

This study finds out the impact of insecurity and youth unemployment in Nigeria.   The study also  examine the impact of youth unemployment in the socio-economic system of Nigeria. The study further Proffer solution to the problem of insecurity and youth unemployment in Nigeria. Finally, the study examine the implications of insecurity and youth unemployment for development in Nigeria.

Limitations Of The Study

Financial constraint

Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).

Time constraint

The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work

Definition of Major Terms

Youth unemployment: Youth unemployment is the lack of job opportunities for people typically in the age group of 15-24

Unemployment: Unemployment occurs when a person who is actively searching for employment is unable to find work. Unemployment is often used as a measure of the health of the economy.

Insecurity: The state of being open to danger or threat; lack of protection and feeling of uncertainty, a lack of confidence or anxiety about yourself

Governance: Governance is the act of governing. It relates to decisions that define expectations, grant power, or verify performance. It consists of either a separate process or part of decision-making or leadership processes.

Development: Development is a concept that embraces not only the provision of basis needs and the expansion of economic activity, but also health, individual freedoms, education and human longevity. Government: Government is the totality of officially designed set of persons, groups, institutions and agencies engaged with the responsibility for making, enforcing and interpreting the constitution and regulative rule of a state.

 

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