Overcoming the effect of Corruption on Unemployment and Economic Growth: Entrepreneurship Perspective

Overcoming the effect of Corruption on Unemployment and Economic Growth: Entrepreneurship Perspective

Author by Dr. Monisola Alao

Journal/Publisher: Solusi University Research Journal

Volume/Edition: 11

Language: English

Pages: 36 - 48

Abstract

Noting corruption and unemployment as twin problems militating against the growth of Nigeria?s economy, this study examines the effect of corruption on unemployment and economic growth in Nigeria. The study explores the internet and other secondary sources of data through a desk study, literature on unemployment, entrepreneurship and economic development were examined to elicit the importance of entrepreneurship (44.8%) (Olaniyi, 2015), as a panacea for reducing the unemployment rate and enhancing productivity. Findings indicate that for entrepreneurship to have its true effect (high rate), on reducing the level of corruption and unemployment, the government should emphasize and be intentional about capacity building, instituting control and corrective action, create inclusive wealth factors, judicious utilisation of oil wealth and creation of enabling an environment for economic growth. An updated and genuine list of the unemployed is, however, necessary to create the required impact in unemployment reduction


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