Investigation of the Extent of Skills Acquisition as a Panacea to Youth Unemployment
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Investigation of the Extent of Skills Acquisition as a Panacea to Youth Unemployment

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– Investigation of the Extent of Skills Acquisition as a Panacea to Youth Unemployment –

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Introduction

1.1 Background of the Study

Nigeria the most populous nation in Africa and the second-largest economy in the continent is endowed with both human and material resources but years of unbridled corruption, mismanagement and sheer waste have hindered economic growth in the country.

Consequently, the nation’s resources have been left under-utilized leading to unemployment and abject poverty (Bakare, 2013). The importation of foreign policies that were workable in developed economy failed to improve the economic system with soaring rate of unemployment of our able-bodied youths.

One of the major goals of economic development strategies pursued by successive Nigeria Government has been the reduction of unemployment through job creation. Burnett (2000) asserts that entrepreneurship is a necessary ingredient for stimulating growth and successful economic development.

Entrepreneurs orchestrate these transformations and create new channels for economic activity and employment.

Thus, all countries that wish to pursue continued development must encourage entrepreneurship. Entrepreneurs are creators of employment for the Nigerian growing population which has significant effect on poverty alleviation.

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