High Poverty Rate Among Youth Arising From Increased Unemployment

957 Words Oct 22nd, 2016 4 Pages
In today 's’ world, the governments are either proactive or are being defensive pertaining to the amount spent on “security votes or arms procurement” to combat insurgency or increasing terrorism which studies argues that one of its primary causes is high poverty rate among youth arising from increased unemployment (***). For example, a country like Nigeria, despite her falling economy, a whopping amount of ($US46.5B) forty-six billion five hundred thousand US dollars, which is approximately (NGN 62,358,813,315) sixty-two billion three hundred and fifty-eight million eight hundred and thirteen thousand three hundred and fifteen Naira was set aside to procure arms against insurgency (Budget Office of the Federation, 2016) that has been on the rise in the country. This is because Nigeria is experiencing an increase in crime and social disorder rate of which the percentage of youth (graduates) involved is as well on the rise (Davis, Kimball, & Gould, 2015). To counter this pressing issues, the focus of government around the globe has somewhat shifted from seeking external assistance in reducing the unemployment rate and thus looking inwardly eradicating unemployment especially among graduate using entrepreneurship as a mechanism to boost their economy. A report by Mazzarol (2014) stated that entrepreneurship and innovation had been a strategy put in place to stabilize the economic since in the 1970s '. The unemployment has been recognized as a global disease in which Nigeria…

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