Effect of Unemployment on Poverty In Nigeria
Abstract
This study examined the relationship between unemployment and poverty in Nigeria for a 36year period (1987-2022). The findings showed that unemployment rate and human resource investment (proxied by government capital expenditure on education) had a positive significant relationship with poverty index in Nigeria. This implies that as both variables increase, the poverty incidence in Nigeria follows suit. While the control variables of inflation, private consumption and population shared a negative significant relationship with poverty index in Nigeria, implying that as they increase the poverty incidence falls. The study hence concludes that there is an established nexus between unemployment and poverty, with unemployment significantly affecting poverty in Nigeria. it was recommended that, Nigeria is at its lowest ebb in human capital development and utilization because of its obsolete educational system which tends to produce graduates with skills mismatch to current productive realities. Hence the development of entrepreneurial skills and initiatives should be of paramount importance especially in the higher education sector to facilitate the employability of graduates. This would result in increasing productivity, job creation and poverty reduction; the federal government should provide comprehensive population policy to regulate and monitor population by encouraging fertility reduction especially among illiterate families.
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