Causes and Effects of Graduate Unemployment on the Nigerian Economy (The Case Study of Lagos State)

Abstract

Nigerian youths from all corners of the country most especially graduates are in search of white-collar jobs. This is because the educational system of Nigeria is structured on certificate and what they can offer the society. Thus, lead to rural-urban migration where graduates look for greener pasture most especially to cities like Lagos, Abuja and Port-Harcourt. This research study investigates the causes and effects of graduate unemployment on the Nigerian economy in Nigeria. The study employed a simple percentage ranking for analysing the questionnaires administered to respondents residing in Lagos state. In addition, descriptive statistics, correlation and analysis of variance (ANOVA) were used to test the statistical significance of the respondents that incorporated graduate unemployment as explanatory variable while economic recession, rural-urban migration, minimum wage rate and government policy were used as regressands. The findings revealed that graduate unemployment rate has risen due to economic recession, rural-urban migration, minimum wage rate and government policy, which has greatly affected the Nigerian economy adversely. This implies that graduates and youths who are qualified, willing and able to work cannot find a job and as such earn nothing. Still, they cannot handle any family or societal responsibility which broods at them every second which makes them to be vulnerable to any scrupulous elements in the society of all sorts of crime and mayhem. Government may not be able to create job enough for the teaming millions of Nigerian unemployed youths but should embark upon massive youth development programmes in all the states of the federation with entrepreneurial skills acquisition and entrepreneurship development.