Entrepreneurship Development and Youth Employment in Nigeria: Perspectives on Selected Entrepreneurship Schemes (Published)
The study examined the relationship between entrepreneurship development and youth employment in Nigeria. It focused on two empowerment schemes: Youth Entrepreneurship Development Programme (YEDP) and Youth Initiative for Sustainable Agriculture in Nigeria (YISA). The nation’s unemployment record, especially among youth, is alarming. A National Bureau of Statistics (NBS) report in 2018 shows that, out of the 85million labour force in Nigeria, 34million are unemployed and underemployed youths, with 25million largely uneducated. The YEDP and YISA schemes were designed to train and make youths entrepreneurs that would be self-employed and also employ others. Therefore, the main objective of this paper is to show that in spite of the conscious and frantic efforts by government and non-governmental organizations through the framework of YEDP and YISA to address the unemployment challenge in the country not so much has been achieved. The study revealed that the programmes have created a number of entrepreneurs and employment for young people across the country. Nonetheless, these efforts have not significantly yielded the desired outcomes of massive job creation for the youths and ensuring national food security. To achieve desired results, using the agricultural value chain, there is need to adopt scientific knowledge based agricultural production. Hence the paper concluded that for Nigeria to address the twin challenges of massive unemployment and national food insecurity agricultural activities should be scientific and greatly modernized. The study recommended, among other things, that integrated farming approach, involving large variety of activities per hectare should be adopted and there should be substantial investment in R&D to generate new ideas and high yielding seeds for the new entrepreneur-farmers.
Understanding the Macroeconomic Implications of the Dynamics of Monetary Policy Measures: Lesson from the Nigerian Economy (Published)
In this paper, econometrics evidence linking monetary policy measures to key macroeconomic goals with emphasis on price stability and unemployment is provided using error correction mechanism (ECM), unit root and cointegration tests in addition to basic descriptive statistics. The unit root test results showed that the variables are mixed integrated. The outcomes of the cointegration test reveal that the variables in each of the models have long run relationship and as such can be represented as an ECM. The estimated parsimonious ECM show that the current values of cash reserve ratio and exchange rate as well as lagged values of credit to the private sector are positively and significantly related to inflation. On the contrary, the short run effect of contemporaneous and lagged values of interest rate on inflation is negative. Additionally, money supply exerts significant negative effect on inflation during the study period. The result of the estimated unemployment model reveals that the current and first lag of interest rate has significant positive effect on unemployment. The result also shows that the current and third lag of money supply has significant positive impact on unemployment rate. The short run impact of credit to the private sector and third lag of exchange rate on unemployment is negative. The error correction coefficients in each of the models are associated with the expected negative sign and are statistically significant at 5 percent level. Owing to the findings, the paper recommends that the Central Bank of Nigeria should adequately monitor the implementation of monetary policy in order to prevent or reduce bottlenecks that may impair its effectiveness in achieving goals of price stability and employment generation.
The Jordanian economy is mainly considered a SMEs based economy where small and medium enterprises (SMEs) contribute 98% of Jordanian enterprises and their Employees represent around 60% of the labor force with a total product counts around 50% of the GDP. SMEs sector has been faced with many challenges that have started with development happening in Jordan into a highly freed and open market economy. The whole thing was quickly moving and upgrading, which resulted in a biased and a long-lasting effect on SMEs. Jordan started its open market policy and deregulation in 2000 and then Nine years later the SMEs sector was affected again with the economic disaster. SME plays an essential role in improving Jordanian employment section. This research shows the impact of SMEs in reducing the problem of Unemployment in Jordon. It highlights the main factors affecting the improvement and job opportunities creation. There is increasing evidence that SMEs play an essential role in the economic development in Jordan. SME’s provide the majority of new jobs opportunities and produce much of the creativity that leads economic progress. SMEs is the only solution to open new job opportunities to a huge number of Jordanians. This paper highlights this to measure how SMEs can reduce unemployment problem in any country and considering Jordan as case study.
Tunisian Labor Market and Regional Heterogeneity: Application OF PSTR Model (Published)
This paper is devoted to investigating the matching process for Tunisia using desaggregated data by assuming that the rising of the unemployment rate result from regional disparities which yield variation of matching efficiencies across regions. Since most econometric aspects of spatial heterogeneity can be handled by means of the standard panel data methods, we focus our discussion on the new technique :Panel Smooth Transition Regression models (PSTR). The distinction is that we can compute regional specific sensibilities for 23 regions over the period 1984-2004. Given this objective, we consider three structural factors that allow to explain the regional imbalances. Contrary to the previous econometric techniques of the matching theory, estimates of the coefficients depend, of three transition variables. The results show that women insertion, the qualification share and population density significantly contribute to explain the asymmetry of the matching process across regions. Our main conclusion is that the hiring in Tunisia is driven essentially by the stock of vacancies about is the region. The willingness of job seekers, obviously, remains low, although it is different between regions and seems relatively important in urban zones.
The main objective of this study is examines the effect of Nigerian elite’ overseas medical treatment on the economy of Nigeria. Both quantitative and qualitative data collected through informal interview and structured questionnaire administered to a sample of 102 Nigerian elites across the thirty six states of Nigeria. The data were analyzes using, mean average and multiple regression analysis. The result shows that Nigerian elite’ overseas medical treatment has negative and statistically significant effects on the Nigerian economy. More so, Nigerian elite’ overseas medical treatment have effect on the capital flight and unemployment. Based on this findings it is therefore recommended that Nigeria governments and stakeholders in health sector at all level should formulate appropriate policy that will discourage Nigerian elite overseas medical treatment by provide necessary world class medical infrastructures with best medical team that are well qualify to managed this medical institution. Furthermore, provision of quality of healthcare delivery in the country; restore the confidence of Nigerian elites in the health sector, and, more importantly, create the enabling environment for the nation’s brains in the Diaspora to return home and boost our medical tourism.
Integrating Entrepreneurship and Technical Education as a Panacea for Graduates Unemployment in Nigeria (Published)
The purpose of this paper was to examine graduates’ unemployment in Nigeria; Technical Education and Entrepreneurial Development; Concept of employability and self-reliance of graduates aspiring to own their enterprises and effectively manage resources rather than waiting for government jobs. The paper also identified major challenges of entrepreneurial ventures in Nigeria which include: Lack of credit facilities; Corruption; Inconsistent government policies; Multiple taxation; Poor state of infrastructure. Another objective of this study was to find out new ways to address the issue of unemployment problems in Nigeria. Among the recommendations advanced in the study are: Government needs to create an investor friendly environment for businesses, curtails corruption and revitalize dilapidated infrastructural facilities in the country.
Impact of Price Instability on Unemployment and Economic Growth in Nigeria: An Empirical Analysis (Published)
This study is an empirical examination of the impact of price instability on unemployment and economic growth in Nigeria between 1986 to 2015. Main variables used in this study are unemployment, inflation rate (proxy for consumer price index), GDP growth rates, Foreign Direct Investment, Investment (proxied by Gross Fix Capital Formation) Interest Rate, Imports, Exports, Exchange Rate and Per Capita Income. The sources of data are statistical bulletins published by World Bank Development Indicators (WBDI) and Central Bank of Nigeria Statistical Bulletin 2015 respectively. There are three regression equations in which the relationship between dependent and independent variables have been tested. The first model is explaining the effect of inflation or price instability and other macroeconomic variables on GDP in Nigeria. The second model explains the effects of unemployment and other economic variables on real GDP while the third model is formulated to describe the effect of macroeconomic variables on unemployment in Nigeria. To achieve these objectives, stationarity tests were conducted with simple Ordinary Least Square using E-views version 8 software. Results from Augmented Dickey Fuller and Philips-Perron unit root test reveals that all the series in the models were stationary, with evidence of a unique long run relationship among the variables in the model. Findings from the OLS regression output reveals the coefficients of imports, exports, exchange rate and manufacturing growth rate as having negative effect on the key dependent variables of gdp-growth rate, price instability and unemployment rate. On the contrary, the coefficients of investment, per capita income and foreign direct investment show positive relationship with the dependent variables in the model. Major policy recommendations of this study are as follows: Government should embark on policies that will reduce the number of imported goods drastically and encourage local production and consumption to encourage domestic industries. This will help reduce unemployment and inflation in Nigeria and improve the gross domestic product figures greatly. Furthermore, over the years, foreign partners in Nigeria has had cause to repatriate their investible funds back to their shores as Nigeria increasingly became unsafe destinations for businesses owing to streams of violence and kidnappings across the country. Government should therefore engage the various agitators and stakeholders across the nation such as the Niger-Delta militants, IPOD/MASSOB and Fulani herdsmen with a view to finding lasting solutions to their demand for genuine peace to be entrenched in the polity. This is one sure way to encourage more foreign inflow of capital for economic growth.
Global economy is witnessing a steep in recession and the effect permeates all sectors of the society. Libraries and particularly public libraries are vulnerable to these changes in world economy because of greater reliance on public funding which makes them easy targets for information resource budget cuts, layoffs, foreclosures and job freezes. An investigation into the position of public libraries in this credit crunch stirs up a pragmatic mix of tension between decrease funding in the face of overall cut in public expenditure and increase demand for library services forcing staff to develop new strategies with very limited resources to respond to the information needs of people during recession and explore means to buffer the financial storm. In Nigeria, public libraries suffer chronic neglect which impairs them to display the librarian’s axiom characterized by decrease funding and increased usage in times of fiscal crisis. This paper recommends a redirection of government policy towards the sustenance of public libraries even during recession and a retooling of library human resources for better value.
The objective of this study was to determine if there exist asymmetry between price expectation and unemployment as captured by Philip’s curve in the Nigerian economy. In other word to determine the validity of Philips curve hypothesis in Nigeria. The Co-integration method was used to analyze this relationship between unemployment and inflation. The data were sourced from the Central Bank of Nigeria (CBN) statistical bulletin for the period under study (1970 to 2011).The result obtained revealed a direct or positive relationship between inflation and unemployment in Nigeria as against inverse relationship between the two macroeconomic problems. The implication of our finding is that policy planner’s awareness of the Nigerian case would be guided on the path of policy direction in line with these twin evil of macro economy.
Unemployment Rate, Gender Inequality and Economic Growth in Nigeria “A Short-Run Impact Analysis” (Published)
This paper examines the short-run impact of gender inequality (proxy by primary and secondary school enrollment) and economic growth (real gross domestic product) on unemployment rate in Nigeria, and also the study determines how much of the forecast error variance of unemployment can be explained by exogenous shocks from variables (gender inequality, economic growth, and population growth rate). Thus, the study using Engel Granger Error Correction Model and Dynamic Stochastic Variance Decomposition Model on a time series data collected from Central Bank of Nigeria Statistical Bulletin. The error correction results in both model 1 and model 2 are robust and consistent with their signs; the impact of gender inequality is positive in both short run models, but significant only in model 1 before the control variables were introduced. Again, the variance decomposition result indicates that gender Inequality emits the highest impulse on the rate of unemployment at 34.735% on average of the ten periods. While economic growth has a negative impact on the rate of unemployment for the two models and exerted only 8.438% impulse on average. The variance decomposition results also showed that unemployment rate transmitted on average of 78.453% impulse on itself for the 10periods under review. Exchange rate, inflation rate, and gross capital formation emitted 28.68%, 10.78%, and 6.81% respectively on average on unemployment rate. Finally, population growth rate transmitted 5.59% impulse on unemployment. There is a long run relationship between the variables and the speed of adjustment towards equilibrium is 52%. Thus, we conclude that gender inequality is a strong factor of unemployment and policy makers and government should embark on developing laws that will reduce/eradicate gender disparity in Nigeria.
Inflation, Unemployment and Economic Growth: Evidence from the VAR Model Approach for the Economy of Iraq. (Published)
This study investigates the impact of inflation and unemployment on the economic growth of Iraq. Considering the fact that the majority of the studies on the Phillips Curve have been done in the context of developed economies and on an aggregate level, this study focuses on Iraq, a single developing economy (a disaggregated level) and aims to empirically analyse the impact of Unemployment and inflation on economic growth in the economy of Iraq. The research results indicate that there exist an equilibrium impact between unemployment and inflation in Iraq thereby supporting the validity of the Phillips Curve hypothesis
Women in Entrepreneurship in Emerging Economies (Published)
Some of the greatest challenges being faced globally especially in the 3rd World countries are issues bordering on unemployment, poverty, terrorism and other social ills. Efforts must be made by any progressive government to eradicate these or reduce them to the barest minimum in order to promote the economic development of a nation. A sure way to do this is to promote entrepreneurship as this is seen as the ‘engine’ of economic growth and development of a nation. The population of the women folk is 49.36 per cent of the total population in Nigeria as at 2011 (World Bank Report) A nation that is determined to progress and boost its economy must realise the economic potentials of women and invest in developing the entrepreneurial acumen of this gender who traditionally are discriminated upon and face many constraints when venturing into businesses apart from their traditional roles of home keeping. These constraints may be in form of access to credit facilities, land and other infrastructures, legal, education, family and cultural issues. The women folk are naturally endowed with special skills such as negotiating skills, endurance and other soft skills as pillars of the family. If these constraints that serve as barriers to their economic development are removed, expose them to entrepreneurship education and they are empowered to start their businesses or scale them up, it will go a long way in improving their standard of living and economic potentials, boost their self-confidence as a person, improve their family, their community and the foreign exchange earnings of the nation. Investing in women entrepreneurship development should therefore be seen as investing in our collective future. This will reduce incidences of crime, terrorism, kidnapping and other social ills plaguing the country, and our country ranked among the advanced economies of the world.
This study investigates the relationship between Entrepreneurship Development and employment reduction in Anambra State, Nigeria. The research focused on youths of five selected Local Government Council of Anambra state, Nigeria. Data were collected using questionnaire from an infinite population of the selected Local Government Council. Samples of 30 youths were drawn from the population of each Local Government through a convenience sampling technique. A total of 150 youths were sample for the study. However, four hypotheses were tested; the first, second and third hypotheses were designed to investigate the relationship between Entrepreneurship training and unemployment reduction; the relationship between Entrepreneurship traits and unemployment reduction; and the relationship between Entrepreneurship empowerment and unemployment reduction respectively. The fourth hypothesis was on the examination of entrepreneurship challenges affecting unemployment reduction. The test conducted shows that the variables in Ho1, Ho2 and Ho3 were significantly and positively related and Ho4 was also significant. The study recommended that Government should strive to reduce the cost of doing business in Nigeria. Unemployed youths in Anambra State should also be strengthened to embrace entrepreneurship devoid the imitation and vocational inclinations.
Understanding Graduate Employability: A Case of a Selected Higher Education Institution in Botswana (Published)
The issue of graduate employment has generated a lot of debate and has become a phenomenal theme of discourse across professional gatherings, political rallies, media, commentary reviews, national economic debates and social networks. In the context of Botswana, studies also show that the country is currently suffering from the twin challenges of shrinking economy and unemployment with the current national unemployment being pegged at 18% and rising while youth unemployment alone is at 34%. It is against this background that this study has been carried out to examine the employment status of graduates at a selected higher education institution in Botswana. A quantitative approach that employed a structured questionnaire was used in the study to collect data from a sample of 250 graduates who graduated between 2007 and 2014. Convenience sampling strategy was used to select the sample of respondents. Data collected was analysed using SPSS version 21. Results of the study showed that 65.3% of the students who graduated between 2007 and 2014 at the selected higher education institution are employed. The study further showed that graduates felt that some of the reasons for delayed employment had nothing to do with skills mismatch, experience or competition in the market but as a result of other issues. It was also shown in the study that the main method of seeking for employment was through the use of curriculum vitae (CVs)
Entrepreneurship Education in Nigerian Tertiary Institutions: A Remedy to Graduates Unemployment (Published)
Study investigated exposure of under-graduates students to entrepreneurial education for post-graduation job creation ability. The population consisted all the final year students of Educational Administration, Ebonyi state University 2013/2014 academic year totaling 200 respondents. The population served as the sample size. The instrument was a structured questionnaire, subjected to face and content validation by experts in Educational Administration; Measurement and Evaluation units, test for reliability yielded a reliability coefficient of 0.79. Pearson Product Moment Correlation (r) statistics and population t-test of analysis were used to analyze the data at 0.05 alpha level. The findings showed a significant relationship in the three hypotheses. The result implies that entrepreneurial education is relevant to students with regard to equipping them with skills for post-graduation job creation ability rather than job seekers. The study recommended collaborative efforts of National University Commission with Department of Educational Administration to identify other entrepreneurship programmes to address graduate unemployment on graduation.
The Educated Youth Unemployment Debacle in Zimbabwe: An Evaluation of the Impact of Intervention Programmes (Published)
This study was an evaluation of the intervention programmes which were put in place by the Government of Zimbabwe (GoZ) and its cooperating partners to address youth unemployment with specific reference to educated youths. Such a study was viewed as critical because it informs policy on what needs to be done correctly or improved in future endeavours to avoid repeating the same mistakes given that educated youth unemployment continues to rise in Zimbabwe. The study took the form of a survey in which 955 unemployed educated youths selected from the country’s ten provinces using multi-stage sampling techniques were used as respondents. The study found out that the intervention programmes did not achieve the desired impact as judged by most of the respondents who were supposed to be beneficiaries. Most respondents indicated that they had never heard about the existence of most of the fifteen intervention programmes identified in this research. The study recommended transparency through marketing initiatives which targeted youths in their final years of full-time education. The study found out that the intervention programmes were not adequately funded and this caused the selection of beneficiaries difficult leading to lack of trust with most intended beneficiaries suspecting corruption. Given the magnitude of the unemployment problem among educated youths, it was also recommended that Government and its cooperating partners should adequately fund the intervention programmes so that they achieve the desired impact of reducing the educated youth unemployment debacle.
Fiji has been experiencing high unemployment rate since 1990s. Unemployment has become increasingly more pronounced from 2000 due to the political instability, expiry of land leases and operational problems in garment and gold industry. On the other hand, there was a surge in number of graduates following the establishment of two new universities. Additionally a sharp decline in investment in the post coup years of 2000 ensued, contributing to further increase in unemployment rate and sluggish economic growth. This paper seeks to investigate whether long run association among growth and unemployment is relevant for Fiji for the period 1982-2012. Johansen Cointegration test procedure has been applied to ascertain the assocaition among growth, investment and unemployment. Result confirmed the evidence of long-run association among unemployment and growth, with cointegration running from investment and unemployment to increase in economic output. Economic policies should gear towards improving investment.
YOUTH UNEMPLOYMENT AND POVERTY IN NIGERIA (Published)
Unemployment and poverty are both reflective and precipitants of plethora of contemporary societal challenges such as leadership, security, governance, etc. that are inimical to human social – existence (for engendering adequate human capacity building and material utilisation) globally. For instance, the National Bureau of Statistics in Nigeria revealed the alarming rate of youth unemployment which is as much as 50%. Considering the fact that, the current population growth rate is put at 2.8 per annum in Nigeria which accompanies an already national population of over 167 million people. Therefore, the extent to which these challenges possess to the nation is remarkably worrisome in recent times, is the escalating and worrisome rate of youth unemployment which has assumed an alarming crescendo. It is against this backdrop, the paper sees to its justification the need to see to its imperativeness with a view of given cogent attention for their needs. Hence, this paper examines “the intimate connection between unemployment and poverty, and how these two phenomena affect the youth in Nigeria”. In order to fulfill the objectives of this paper, relevant literature were consulted and established database explored for holistic and comparative study, to illustrate the mitigation and enabling factors for the realization of the objectives of youth employment and poverty alleviation if not total eradication in the society – Nigeria. With the aid of content analyses of the materials explored: this paper contend that fundamentally, there is a close nexus between poverty and unemployment with direct bearings on the critical segment of the society, particularly the youth. Also, inspite of the myriad policies and programmes initiated by successive Nigerian government such as National Economic Empowerment and Development Strategy (NEEDS), Subsidy Re-Investment and Empowerment Programme (SURE-P), National Directorate of Employment (NDE), National Youth Service Corps (NYSC) Schemes in Nigeria, as lofty and laudable as they seem, their inability to affect the real target (youth), reflects the lacuna between policy formulation and implementation. The thrust of this paper therefore is its strong proposition to government at all levels to demonstrate a commitment towards responsive governance, with focus on jobs creation and eradication of poverty. In addition, appropriate authorities should endeavor to sensitize the citizens on the need to embrace birth control measures for the purpose of engendering sustainable development.
This paper focused on preparing globally minded accounting graduates through modern accounting curriculum. Three hypotheses were formulated and tested. The population of the study comprised six hundred and two (602) accounting lecturers and students selected from both private and public Universities in Nigeria of which three hundred and one (301) were purposively sampled. Structured questionnaire of 35 items was used as instrument for data collection. It was validated by three research experts and the Cronbach Alpha reliability coefficient was used to establish the reliability of the instrument which yielded coefficient value of 0.91. The Mean of the responses with their standard deviation was used to answer the research questions. The student’s t-test statistic was used to test the three hypotheses at 0.05 level a significance, using Eview statistical software. The study reveals that modern techniques of the practice of accounting are not yet included into the accounting curriculum of the selected Universities in Nigeria. It also discovers that emphasis is heavily placed on paper qualification of the lecturers with little or no emphasis on the practical demonstration and ability of the lecturers to impact knowledge into the students. It also reveals that in order to enhance practical skills of accounting graduates, practical exposure of the students is important for them to be relevant in a global economy. The study recommends regular training and retraining of accounting lecturers on modern techniques of the practice of accounting to enhance contemporary knowledge of accounting graduates in the global market. Based on the findings and recommendations, the paper concludes that for the massive unemployment situation being experienced by accounting graduates in the developing countries to reduce, there is the urgent need to equip the graduates with relevant marketable skills that will make them relevant in the global labour market.
The issue of graduate unemployment has been in the front burner of discourse in the nation in recent years with the churning out of graduate’s year in, year out clogging further the labour market. Even with the large number of unemployed graduates in the country, employers of labour still find it difficult to fill the existing few vacancies that crop up from time to time because these graduates are often found unemployable. They lack certain requisite skills for sustainable employment. These skills create a gap in their knowledge which should have been embedded in the curriculum used in the process of training them. From the literature reviewed, the paper looked into what the employers actually want, recognising the gaps in the required skills and how these can be incorporated into the curriculum the students are exposed to before they graduate. This curriculum should expose them to skills apart from technical and professional skills that will make them employable or make them self-employed, reducing greatly the number of unemployed people in the nation. This will stem the tide of rising social menace in the country often created by joblessness, which if not addressed can threaten the stability of the nation