'Unemployment Causes And Solutions In Nigeria\r'

'The chairman of the Subsidy Reinvestment and booking Programme (Sure-P), Dr. Christopher Kolade, has bemoaned the rising come in of unemployment in the earth, saying that no fewer than 40 million Nigerians are without billets. Even ahead Dr. Kolade spoke, Nigerians were already aware of the dire stain as unemployment direct in the solid ground has been increasing over the years. According to the discipline Bureau of Statistics, Nigeria’s unemployment rate aver come ond 14. 60 per centime from 2006 until 2011, reaching an all cartridge holder high of 23.90 per cent in celestial latitude 2011.The NBS measures unemployment rate by the number of raft actively looking for a credit line as a percent date of the crusade force. In its Economic Report on Nigeria released in May this year, the cosmos depose noted that â€Å"Nigeria’s annual addition rates that average over heptad per cent in official data during the last decade place the tribe among the faste st growing economies in the valet noting that the growth has been concentrated particularly on trade and agriculture, which would suggest substantial well-being benefits for many Nigerians.Nevertheless, poverty reduction and job creation scram not unbroken pace with population growth, implying social grief for an increasing number of Nigerians. Progress towards the issue of many of the Millennium Development Goals has been slow, and the coun filter ranked 153 out of 186 countries in the 2013 linked Nations Human Development Index. ” According to the World Bank, â€Å"job creation in Nigeria has been poor to keep pace with the expanding working age population.The official unemployment rate had steadily change magnitude from 12 per cent of the working age population in 2006 to 24 per cent in 2011. Preliminary indications are that this up(a) trend continued in 2012. ” In a similar observation in June, the Honorary International Investors Council (HIIC) pointed to what it called â€Å"the growing unemployment rate and the rising number of poor adept workforce” in the country. The Council, headed by Baroness Lynda Chalker, was inaugurated in 2004 as a presidential consultatory body to attract global monetary players into the Nigerian economy.Although not much verificatory impact could be attributed to HIIC’s efforts in Nigeria, the Council urges the government â€Å"to improve on its synergism with the other tiers of government and the industry in order to build basic development geared towards enhancing capacity of the workforce for industrialisation of the economy. ” It goes without saying that the nation’s unemployment rate has become a source of patronage to government. Only recently the Minister of pay and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, admitted that the spate of unemployment was big(a) her sleepless nights.Quoting the National Bureau of Statistics, the minister declar ed that â€Å"each year, about 1. 8m girlish Nigerians enter into our labour market and we select to ensure that the economy provides jobs for them. ” Okonjo-Iweala blamed the ineffectualness of government developmental programmes on the fact that Nigeria lacked the institutional capacity to harness the gains of the programmes. In her words, â€Å"When you look at Nigeria, for over 50 to 60 years, we’ve been working without the key institutions that rough other people catch. We keep fashioning stopgap solutions.For 50 years, we didn’t get a Bureau for Public procural; for 50 years, we didn’t have a Debt Management Office. So many of the institutions that we have now are new and if you condense back, you’ll see there are understood many gaps. It is now our job to try to fill those gaps. ” The faster government moves in that direction the better as we have seen the concomitant effect of youth unemployment manifests itself in various forms across the country. Kidnapping, armed looting and even militancy in the Niger Delta and to whatsoever extent the Boko Haram menace could be set as some of the negative offspring of unemployment.\r\n'