Firms could be given tax breaks or subsidies for taking on long-term unemployed. As an individual, you have a role to play in making Nigeria a better place by combating this issue. In 2020, a statistical analytical finding from the International Labour Organisation, an agency of the United Nations developing policies to set labour standards says the estimated youth unemployment rate in Nigeria is at almost 14.2 per cent. There are a number of ways by which the natural rate of unemployment can be solved. Employment subsidies. How To Solve Unemployment Problem In Nigeria After listing out the types and causes of unemployment, the next thing in line and probably the most important should be how to solve the unemployment issue. N-Power not solving Nigeria’s unemployment problem. The World Bank Group put the statistics of youth unemployment in Nigeria at 80% (eighty percent). Enough funds should also be provided for the directorate to make them more products. Skill, skill, skills, get a skill, learn a trade. In 2020, the estimated youth unemployment rate in Nigeria was at almost 14.2 percent. Unemployment in Nigeria is the situation whereby some people who fall within the ages of the working population, capable and willing to work, are not able to due to certain conditions. Although Nigeria’s youth unemployment rate is high, it is a problem that the government and the people of Nigeria and its partners are intent on solving. Doyin Salami, chairman of the economic advisory council (EAC), says Nigeria needs to create 19 million jobs annually to solve the problem of unemployment. For example the unemployment rate of Nigerians since the second quarter of 2019 (Q2) till the third quarter of 2018 (Q3) has been 16.20-18.80-20.42-21.83-22.73-23.13 respectively which displays a steady increment in the unemployment rates of youths and citizens Nigeria: National Bureau of Statistics. Ways to Solve Unemployment Problem: Unemployment can be solved if planned properly by the nation from the start. The broad aim of this study is to explore the problem-solving of graduate unemployment in Nigeria,while the specific objectives are to: (i) unravel the causal factors of unemployment among university graduates in Nigeria, (ii) examine the economic and social consequences of graduate unemployment in the country Unemployment refers to the share of the labor force that is without work but available for and seeking employment. Nigeria's unemployment numbers jumped by nearly 30 percent this year to 16 million, according to a November report by the National Bureau of Statistics. Point 1: Skills are not enough. In conclusion national directorate of employment stands as one of the yardsticks for finding solution to the problems of unemployment so there is need to increase the activities of NDE so as to attract more people to the programme. SOLVING UNEMPLOYMENT AND YOUTH ENTREPRENEURSHIP IN NIGERIA CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Unemployment, both of the educated and the uneducated manpower, has become one of the most topical and thorny issues in contemporary Nigeria. In the last quarter of 2016, the unemployment rate in Nigeria increased from 10.4% to 14.2% earlier this year. The job training programs are specifically catered to Nigeria’s youth population and are targeting a variety of different industries from Agriculture to Scriptwriting. In solving the problem of unemployment in Nigeria, there is the need for the Nigerian Government to provide necessary infrastructure to make the nation’s industrial climate investment friendly. According to the source, the data are estimates from the International Labour Organization, an agency of … It has constituted itself into one of the worst enemies of the […] The level of youth unemployment in an African country called Nigeria is high and one of the reasons for that is because of the high corrupt government the country has been under for years now. What could be that role? unemployment problem in Nigeria Ishola Saheed Ademola, Adeyemo Adewale Michael Abstract— SME or small scale business is described as the engine for rapid growth due to its numerous benefits such as employment generation and contribution to the GDP. Nigeria’s unemployment problem is rapidly getting out of hand, with around twenty-two million unable to work and unable to earn. In this case reducing the influence of trades unions (or reducing Minimum wages) will help solve this real wage unemployment. Governments at all levels may also go into partnership with private individuals to establish industries, with the private partner providing the driving force. Unemployment theories. Unemployment problem in Nigeria affects all levels of life.. To overcome unemployment, it is necessary to create a certain executive body, which would take responsibility to give clear instructions to solve the problem of unemployment and control it. This will encourage investments and thereby create jobs for the unemployed youths. Mr. Obasanjo gave advice on Thursday, speaking about the topic “Unemployment in Nigeria: way out” at the job fair at Obafemi Avolovo University, Ile-Ife. N-Power Not Solving Nigeria’s Unemployment Problems. The solution for unemployment is, of course, to create new jobs. Unemployment rate in Nigeria is reported by the National Bureau of Statistics, Nigeria. Unemployment Rate in Nigeria increased to 7.50 percent in the first quarter of 2015 from 6.40 percent in the fourth quarter of 2014. Poor Standard Of Education. When unemployment creeps above 6% to 7% and stays there, it means the economy can't create enough new jobs. If you pay close attention to media in recent time, there has been so much motivation and encouragement from various governments and individuals, advising the unemployed youths in Africa to look at Agriculture and farming as solution to the unemployment problem. In 2016, 50,000 to 110,00 jobs per month needed to be created to prevent the unemployment level from rising. That's when the government steps in. You might wonder why the percentage rate for youth unemployment is this small. Solutions to Unemployment in Nigeria. This helps give them new confidence and on the job training. In addition, you can set up an internet business by becoming a blogger, website designer, and copywriter, to reduce unemployment in Nigeria. It is noted to be the highest jobless rate since 2009. Kindly Share This Story:By Odewale Abayomi THE National Bureau of Statistics, NBS, on Friday, August 14, 2020, released the statistics on unemployment for the second quarter, Q2, of 2020 after a long hiatus since the third quarter, Q3, of 2018. In Nigeria, SMEs defined as any enterprise with a maximum assets of N500 million ($4.2 million) The chairman of the economic advisory council (EAC), Doyin Salami on Wednesday stated that Nigeria needs to create 19 million jobs annually to solve the problem of unemployment. Resultantly, Nigeria’s rate of unemployment rose to an unimaginable 27.1% in the second quarter of 2020 – the highest in the history of Nigeria. In just their […] 3. Well, this is because the […] And this is what Kickstart continues to achieve with its youth-centered scheme. By RECRUITMENT GATE STAFF September 19, 2020 No Comments. Since there is no real offer in Nigeria, there is no demand as a result. Nigeria’s unemployment rate for the second quarter of 2020 rose to a record-high 27.1% in the newly released figures by the National Bureau of Statistics.. That is, 21,764,614 Nigerians are presently unemployed. Similarly, another data reveals youths’ unemployment rate in Nigeria as at the second quarter of 2020 is 27.1% indicating that about 21,764,614 … This figure includes those that have experienced job loss, and those that have recently joined the labor force (recent graduates and former housewives/stay home husbands). Former President Olusegun Obasanjo called for job creation for young people, especially in the agricultural sector, to tackle unemployment in Nigeria. Looking to an already overwhelmed government to solve these problems may be unwise even with government initiatives such as the Economic Recovery Growth Plan (ERGP), Trader Moni, N-Power, and other programmes targeted at the twin problems of poverty and unemployment. SOLVING THE PROBLEM OF UNEMPLOYMENT IN NIGERIA . Image courtesy of cbenjasuwan at FreeDigitalPhotos.net. Policy regarding seasonal unemployment: Seasonal unemployment is found in agriculture sector … The problem of unemployment is becoming chronic without solution being in sight. The standard of education is really low in Nigeria. Also, the findings revealed that unemployment in Nigeria increased from 21.1% in 2010 to 23.9% in 2011 with youth unemployment at over 50%. Nigeria unemployment rate for 2019 was 8.10%, a 0.15% decline from 2018.; Nigeria unemployment rate for 2018 was 8.24%, a 0.15% decline from 2017.; Nigeria unemployment rate for 2017 was 8.39%, a 1.33% increase from 2016.; Nigeria unemployment rate for 2016 was 7.06%, a … The National Bureau of Statistics, NBS, on Friday, August 14, 2020, released the statistics on unemployment for the second quarter, Q2, of 2020 after a long hiatus since the third quarter, Q3, of 2018. Gone are the days … In Nigeria, the 2018 NBS statistics point to 23.3 per cent unemployment figure with youth unemployment at over 40 per cent. Some possible ways by which the government and the people can work together to solve long term unemployment are. This has propelled 14 young Africans from Nigeria and Ghana to curb unemployment in Nigeria and the Africa continent as a whole. Apparently, within two years, the unemployment rate in Nigeria rose by four per cent.