Effects Of Unemployment Among Youth In Nigeria

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 …show more content…
The issues of increase in graduates’ unemployment rate as well as underemployment of graduates, is not an issue facing the Nigerian economy alone, but it’s a global concern that both developed and developing countries are trying to be reduced or eliminate. According to National Bureau of Statistics “NBS” (2015) statistics of the unemployment rate is said to be at 9%. Confirmation of this statement is presented by Economist (2016), in the report, it is stated that employer in France today does hesitate to employ youth as permanent staff due to their underperformance and rigid policy and cost that will be incurred if such employee is to be laid …show more content…
2007) therefore reducing unemployment rate especially among youths (Kayed,