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Impact of Unemployment on Economic Growth in Nigeria from 1974- 2015

Author

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  • Atiman Kasima Wilson

    (Department of General Studies, Federal Polytechnic, Bali, Nigeria)

  • Mathias Mathew Madu

    (Department of Cooperative Economics, Adamawa State Polytechnic, Yola, Nigeria)

  • Amina Bala Usman

    (Department of General Studies, Federal Polytechnic, Bali, Nigeria)

Abstract

The study investigated the impact of unemployment on Economic Growth in Nigeria from 1974- 2015. Unemployment has been a monster bedevilling the Nigeria economy for many decades. The objectives of the study includes to examine the trend of unemployment from 1974-2015. The study used secondary data obtained from World Development indicators where the Auto regressive- Distributed Lag (ARDL) was analysed using Eviews 10. The study found Gross Domestic Product- GDP to be positively related to the first and third lagged values and their coefficients significant. The study also adopted the Endogenous growth theory which proves that b economic growth is mainly the result of internal forces. The study found that unemployment has been rising over many decades despite government conscious effort to tackle unemployment. The study further recommended an increase in government funding to boost Micro, Small and Medium enterprises (MSME) in order to reduce unemployment which will further promote economic growth.

Suggested Citation

  • Atiman Kasima Wilson & Mathias Mathew Madu & Amina Bala Usman, 2022. "Impact of Unemployment on Economic Growth in Nigeria from 1974- 2015," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 6(10), pages 763-770, October.
    • Handle: RePEc:bcp:journl:v:6:y:2022:i:10:p:763-770
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