Impact of Youth Unemployment on Economic Growth in Nigeria

Abstract

This study examinines the impact of youth unemployment on economic growth in Nigeria. It also investigated how the effect of youth literacy level affected their rate of gaining employment. Data were sourced from National bureau of statistics and Central bank statistical bulletin and from literature . Usually, the larger proportion  or strata of the  population of these calibre of individuals that possessed the characteristics in term of availability, capacity and willingness falls within the range otherwise known as the youths.Youth uneployment is pravalent andbecoming a menace to the economy of most nations.The consequences of this phenomenon goes beyond economic challenges and  pameated the socio-political fibre of any nation that has high unemploymen rate. Nigeria is not left out in this.The study methodolgy deployed time series data analysis whereby, some variables  were regressed using theAuto Regressive Distributed LagARDL and Error Correction Mechanism ECMto assess the implication of youth eneployment on the economic growth of Nigeria.The study recommended  the encouragement of entrepreneural development,reduction in the cost of borrowing capital and constant capacity building for the youths amongst others as means of reducing youth uneployment in Nigeria.