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THE ECONOMIC EFFECT OF UNEMPLOYMENT ON THE NIGERIA ECONOMY  (A CASE STUDY OF NNEWI NORTH L.G.A. IN ANAMBRA STATE)

 

ABSTRACT

The research was carried out to find out the problems and prospects of managers in a business organization.

The research was designed out in three chapters (i.e. introduction, literature review and conclusion).

Chapter one is made up of general background, the problem, the study will be concerned with and the importance of study this project and also some important terms, which were defined.

Chapter two described the literature review of the subject matter.  It made up of the origin of the case of study, different methods of study, the problems and the schools of thought which we got through research of various books that related to the subject matter.

Chapter three, which is the concluding chapter, comprises of data presentation, analysis of data and recommendation.  In the course of collection of data used in chapter three, questions and interview were granted to some people who are working at the company in focus questionnaire were shared for data collection to those who were not disposed for interview.

Under the analysis of data, percentages were used.

Conclusion takes an overview of the whole work by giving some oriented recommendation.

Finally, the following findings were deduced, the data analysis, management of Nnewi North Local Government employs quality staff, sends their staff or workers on training but most managers do not delegate their duties to subordinates. Socio-cultural factor is a contributive factor to the problems of managers in the company.

 

TABLE OF CONTENTS

 

CHAPTER ONE

  1. Introduction

1.1     General Background to the subject matter

1.2     Problems associated with the subject matter

1.3     Problems that the study will be concerned with solution

1.4     The Importance of studying the area

1.5     Definition of important terms

1.6     Chapter Reference

CHAPTER TWO

  1. Literature Review

2.1     The origin of the subject matter

2.2     Schools of thought within the subject area

2.3     The schools of thought relevant to the problem study

2.4     Different method of studying the problem

2.5     Summary

2.6     Reference

 

CHAPTER THREE

  1. Data presentation highlights of the study
  2. Analysis of the data
  3. Recommendation
  4. Conclusion
  5. Reference

 

CHAPTER ONE

 

 

  1. GENERAL BACKKGROUND OF UNEMPLOYMENT

The Advanced Learners Dictionary defined unemployment as the amount of labour unused.  When a factor of production is not doing any job, we say it is unemployed.  In this project, we concentrate mainly on the effect of unemployment in Nigeria economy in particular, emphasis on labour which is the most important and active factor of production which simply means that without labour, all other factors will not be put into practice.  Then all other facts are regarded as passive factors of production.

Unemployment is a dangerous phenomenon to an industrialized economic system further primitive communities in Nigeria were usually self-sufficient and had not unemployment problem, though, they had to accept very low standard of living.  The people share work that had to be done and any spare time was enjoyed as leisure.  There is still little unemployment in Nigeria engaged in the production of primary products though these communities may suffer a general reduction in their products fall in the world market.  Often we advocate for industrialization as a penance to unemployment problem, but in as much as that, it is true that it is also very important to know that this industrialization coupled with the division of labour and specialization bring along with them this various problem called unemployment to industrial progress, how wonder it was the leading industrial nations that were the first to introduce schemes of social security.

This ugly and nerve cracking cankerworm which has right from time been reining its disastrous head in the blood stream of the general populaces of the world has been a thing of concern to great philosopher of economist and socialist of the olden days.  This has made them to come out with concepts, ideals, theories and beliefs all trying to recommend a drug for this disease called unemployment.

Anyaele (1995:214) stated that unemployment may be defined as a situation where some people who fall within the age of the working population, capable and willing to work but are unable to obtain the fitting work to do.

  1. PROBLEMS ASSOCIATED WITH THE SUBJECT MATTER

Anyaele (1995:214) stated that the problem is becoming chronic without solution being in sight.  It has constituted itself into one of the worst enemies of the populace in this part of the world.  That the problem unemployment has been exacerbated by the present and retrenchments unbridle rural urban migrate e.t.c.

Unemployment which is a great problem associated with both rural and urban communities of the Nigeria economy, it results to the following problem to Nigeria.

(a)     Escalation of Crime Rate:

An aphorism says that an idle mind is devil’s workshop and as a result many unemployed involve in such time crime as armed robbery, prostitution, currency trafficking, touting, drug addiction etc.

(b)     Waste of Manpower:

Unemployment especially that of graduates wastes the much needed manpower which delays the economic development of a national Nigeria.

(c)      Threat to Peace:

The unemployed constituted available tools for political trouble shooters in a country.

 

 

(d)     Increase in Dependants:

The unemployed people increase the number of dependants and contribute in sapping the income of their families in stand contributing to them.

(e)      Reduction in Investment:

The money spent in educating the unemployed and the one spent on them as dependants should have been invested in one business or another.

(f)      It causes Migration:

          This can be rural urban or from one country to another, which creates vacuum in a nation’s march to economic and social development.

  1. PROBLEMS THAT TH E STUDY WILL BE CONCERNED WITH SOLUTION:

This is a movement of people from country side or villages to cities or town.  Rural-urban migration is a reaction to some of the prevailing conditions from the rural area to urban areas as multifarious reasons.  The causes of these migrate is known as push and pull factors.  Pull factors are those things in the urban areas that attract people in the rural areas to the urban areas while pull factors are those conditions in the rural areas that compel people to have.  These push and pull factor includes the following:

  • Lack of social amenities,
  • Availability of recreational facilities in urban cities,
  • Higher education,
  • Employment opportunities,
  • Marriages,
  • Natural disasters,
  • Political reasons, etc.

1.4     THE IMPORTANCE OF STUDYING THE AREA ABOVE (RURAL-URBAN MIGRATION):

These will help in reducing the numbers of peoples that will move out of the country side or the villages to cities or town to crib this mass movement of people from rural urban areas.  The following should be done by the Federal Government of Nigeria:

  • Establishment of industries in the rural areas.
  • Provision of recreational facilities.
  • Improvement of our agricultural system.
  • Establishment of higher institutions in the rural areas.

The problem of unemployment to the Nigeria economy is to find a sound/solid solution to the unemployment).  The Federal government of the country Nigeria should adopt the following measures to eradicate this particular problem:

  • The government should provide sound and sustainable education and staff developments when education is functional and qualitative, it makes the recipient to be independent in thoughts and actions.  Staff development and training increase the skills of the workers to meet the challenges of the time.
  • The government should control the population of the economy.  Optimum population will help to solve our unemployment problem because it will bring our population to equilibrium point to march with our available resources.
  • The government should provide social amenities to rural areas.  This will reduce or make many school leaves to accept to work and reside in rural areas.
  • Creation of more States and local governments.  This should be done based on the available resources in order to create more employment opportunities.
  • The government should establish industries, establishing many industries will create more employment opportunities.


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