Nigeria Economy: The cankerworm called Unemployment.
It becomes pertinent for us to evaluate the activities of our government as it affects us as individual and a nation , going by their conflicting macro-economic objectives and perpetuating poverty in the country.

It was the ultimate desire of the former president of Nigeria , chief Olusegun Obasanjo to industrialize the nation and consequently reduce unemployment.This was said to be responsible for his many journeys outside this country to Europe and the fast growing Asia economy to lure investors into the country. However by the time the chief was leaving office , unemployment rate has not only increased but has eaten deep into the once pride number one economy in Africa. The reasons for this growth in unemployment rate and its effects are not far fetched.
Sometimes , I do wonder if there are no policymakers in the corridor of power would could adivice the leadership as regards the choice of macro economic objective to pursue and its opportunity cost.

Most notable among the numerous causes of unemployment is that the government of the country has been working tiredlessly to bring about investors and at the sametime doing everything possible to stop them from coming and thereby perpetuating unemployment by not creating a conducive environment for these potential investors by increasing the cost of production in the country, especially through poor power supply , thereby skyrocketing the cost of production.
It is no longer news that many companies left Nigeria for neighbouring countries like Ghana, where there is a conducive environment., Take for in stance a situation where a litre of diesel cost #110 and these organizations have to consume 100s’ of litre per day. It is only an irrational producer that will watch his cost of production rise rapidly without doing anything about it. This has been responsible for frequent “downsizing” and low rate of employment in our industries in recent years.
Yar’adua’s government is also planning to deregulate the downstream sector. If before removal of subsidy diesel goes for #110 per litre, then what happens after removal of subsidy.Expect more firms to join the likes of Dunlop , Club beer, Afri cola etc. I think the government should keep subsidizing until he’s able to find solution to power supply in this country. It is a big shame that after over 10billion naira has been spent on this sector , it is still the same story.
· Increase in crime rate
· Fall in aggregate demand in the economy as the ratio of dependant increases.
· Decline in the number of total output , due to fall in demand
· Poor standard of living in the country
· High cost of survival and many more are the fallouts of unemployment in Nigeria as most of the Nigerian youths look helpless.
Where do we go from here?