Translation of Nigeria Economic Performance on the Nation's Unemployment Terrain: Effects and Implications
Scholars Journal of Arts, Humanities and Social Sciences, Vol. 3(4A), pp. 888-894, 2015
7 Pages Posted: 10 Aug 2016
Date Written: 2015
The study which focused on examining the imminent implications of translating Nigeria’s economic performance on the nation’s unemployment problems is bent on assessing how Nigeria’s current economic status as the biggest economy in Africa has affected its rate of unemployment. Adopting data extracts from various published statistical bulletins of the CBN, SEC, and the NBS reports, the Pearson Correlation was employed in executing the analysis carried out in this study using the SPSS version 20 statistical software. The result of the analysis showed that Nigeria’s celebrated feat as the biggest economy in Africa appear yet to have had any meaningful impact on the rising/high rate of youth unemployment. This is in view of the fact that the rate of unemployment (from the analysis) maintained an increasing/upward slope status even as the economy of the country increases in growth. The study therefore recommends that a positive translation approach be deployed in ensuring that the huge output of the country’s celebrated GDP growth is commendably felt by its unemployment sector. Accountability and transparency, instead of corruption, need be selflessly embraced by the country’s leadership if this resolve is to be achieved.
Keywords: Accountability, Corruption, Economy, GDP Growth Rate, Transparency, Unemployment Rate
JEL Classification: E24, F43, Q11
Suggested Citation: Suggested Citation