Unemployment as a social problem facing Nigeria. In this post, we will discuss the10 Ways to Reduce Unemployment in Nigeria. Unemployment is a huge problem all over the world, but it is worse in Nigeria with a very large youth population. The problem is to prove that the economic policies have not been successful.
This article will give you 10 ways to reduce unemployment in Nigeria.
The question is, how do we ways to solve the unemployment problem in Nigeria? Here, we will suggest ways to end unemployment once and for all. The ideas are not new and they will show how the government and the private sector can jointly bring down unemployment. It is my hope that you will be motivated to become a part of the solution.
Let us explore the subject a bit more and gain a fresh understanding, about how Nigeria can permanently get rid of this problem.
What is unemployment?
You might want to ask, what is unemployment? Well, in simple terms, unemployment is lack of job for citizens, who are qualified and willing to work, but are unable to get work because there are no jobs.
Types of Unemployment
The following are types of unemployment. They are frictional, seasonal, structural, and cyclical.
- Frictional unemployment occurs if there is supply and demand mismatch. It is the waiting time between seeking and finding a job.
- Seasonal unemployment refers to periods firms have few jobs to offer, due to a slow down of the economy or season.
- Structural unemployment takes place when traits and location disqualifies applicants and if there are no qualified applicants to fill vacant posts.
- Cyclical unemployment refers to periods when firms are not hiring, due to the recurring economic downturn.
What are the Causes of Unemployment?
Here are a few causes of unemployment for your perusal.
- Overpopulation
Migration to cities people believes they can get employment to the disadvantage of other cities, which have vacant positions but nobody to fill them.
2. Craze for White-Collar Jobs
People wishing to get an office job than do any other work; make them to seek for employment that may not exist.
3. Bad leadership
Visionless leaders in government, who are unable to see and plan for the future of citizens, create unproductive nations that cannot employ its people.
4. Un-attractiveness of Farming
Society relegates farmers to the background and rates them as failures. This makes people run to the cities, to struggle for nonexistent white-collar jobs in overpopulated cities.
5. Rural Urban Migration
Young adults seeking employment and a better life, migrate to places they hope to get it. This causes over population in the cities they migrate to triggering unemployment, lack of accommodation and other social issues.
6. Industries Performing at Low Installed Capacity
When there is economic downturn companies produce less, and as customer purchasing power weakens, this leads to a temporary embargo on employment.
7. Foreign Exchange scarcity
A scarcity of foreign exchange to import raw materials, make industries to operate at low capacity, which leads to a sack of some staff.
8. Economic Slow Down
Recession in the economy will cause companies to sack some of their workers.
We have seen the types and the causes of unemployment. Let us see the ways to reduce it.
9. Lack of Plan by University Authorities
Universities admit more students than they can handle and send poorly trained graduates into the labor market without marketable skills.
10. Outdated Academic Curriculum
Universities produce unemployable graduates due to outdated academic curriculum’s.
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