AN APPRAISAL OF GOVERNMENT POLICIES AT REDUCING UNEMPLOYMENT IN NIGERIA (1985-2015)

AN APPRAISAL OF GOVERNMENT POLICIES AT REDUCING UNEMPLOYMENT IN NIGERIA (1985-2015)

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AN APPRAISAL OF GOVERNMENT POLICIES AT REDUCING UNEMPLOYMENT IN NIGERIA (1985-2015)



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ABSTRACT
This study examines the appraisal of government policy at reducing unemployment in Nigeria between the periods of 1985-2015. The study highlighted the structure, pattern, trends of unemployment, it examines the various government policies that has been used to combat unemployment, it evaluate the effects of theses government policies in reducing unemployment and also determine the factors that have militated against these policies over the years.
The study made use of secondary data which were sourced from the Central Bank of Nigeria Statistical Bulletin and National Bureau of Statistics. The use of econometric model was formulated through the use of multiple regression model of ordinary least squared (OLS) to obtain the relationship between the dependent variable (unemployment) and independent variables (job creation, government expenditure on education, government expenditure on power supply and government support for agriculture in the model from 1985-2015.
Findings from the analysis showed that a non significant relationship exist between government policies and unemployment rate in Nigeria. The coefficient of G_EXP (5.13E-08) implies that a unit increase on the spending on education would bring about approximately 0.000005% increase on unemployment rate. The coefficient of GA (1.32E-07) also implies a unit increase on government support to agriculture would bring about approximately 0.00001% increase on unemployment. The coefficient of GP (2.50E-08) implies that a unit increase on the provision of power supply for firms would bring about approximately 0.000002% increase on unemployment. Lastly, the coefficient of job creation (2.25E-06) implies a unit increase on expenditure on job creation policies would result in approximately 0.0002% increase on unemployment. To the above illustration, the whole coefficients are positive but implies a smallest change on the dependent variable (unemployment).
It was concluded that government policies for the period of 1980 to 2015 has no significant positive impact on unemployment rate in Nigeria. Among other recommendations is that government must ensure necessary modification in the educational system in the country that would make graduates to be employers of labour and self-employed, instead of looking for scarce job opportunities.

TABLE OF CONTENTS
CHAPTER ONE: Introduction
1.1 Background to the Study
1.2 Statement of the Problem
1.3 Objective of the Study
1.4 Research Questions
1.5 Research Hypothesis
1.6 Method of Study
1.7 Significance of the Study
1.8 Scope and Limitation of the Study
1.9 Plan of Study
CHAPTER TWO: Literature Review
2.0 Introduction
2.1 Conceptual Review
2.1.1 Concept of Unemployment
2.1.2 Unemployment Rate
2.2 Theoretical Review
2.2.1 Classical Economic Theory
2.2.2 Theory of Innovations
2.2.3 Theory of Effective Demand
2.2.4 Real Business Cycle Theory
2.3 Empirical Review
2.4 Stylized Facts Showing Trends and Patterns of Unemployment in Nigeria since 1985-2015
2.4.1 The Root Causes and Consequences of Youth Unemployment
2.4.2 Reasons for the Growing Youth Unemployment in Nigeria
2.4.3 Unemployment Challenges in Nigeria
2.4.4 Government Effort in Reducing Unemployment in Nigeria
2.4.5 Other Attempts at Curbing Youth Unemployment
CHAPTER THREE: Research Methodology
3.1 Introduction
3.2 Sources of Data
3.3 Re-Statement of the Hypothesis
3.4 Method of Data Collection
3.5 Method of Analysis
3.6 Model Specification
3.7 Criteria for Decision Making
3.8 Research Limitation
CHAPTER FOUR: Analysis and Interpretation of Result
4.1 Introduction
4.1.1 Restatement of Model
4.1.2 Evaluation Based on Econometric Criteria.
4.1.3 Coefficients of Explanatory Variables
4.2 Analysis of the Impact of the Independent Factors on the Dependent Variable
4.3 Testing of Hypothesis (with E-VIEWS)
CHAPTER FIVE: Summary, Conclusion and Recommendation
5.1 Summary
5.2. Conclusion
5.3 Recommendations
References

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