OVERCOMING THE EFFECT OF CORRUPTION ON UNEMPLOYMENT AND ECONOMIC GROWTH: ENTREPRENEURSHIP PERSPECTIVE.

ALAO, Esther Monisola OVERCOMING THE EFFECT OF CORRUPTION ON UNEMPLOYMENT AND ECONOMIC GROWTH: ENTREPRENEURSHIP PERSPECTIVE. Solusi University Journal. (Submitted)

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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 internet and other secondary sources of data through a desk study. Literatures on unemployment, entrepreneurship and economic development were examined to elicit the entrepreneurship role (44.8%, Olaniyi 2015) as a panacea for reducing unemployment rate and enhancing productivity. Findings indicate that for entrepreneurship to have its true effect (high rate), on reducing the level of unemployment, government should emphasise and be intentional about capacity building, high level of self-sustainability touching a larger percentage of the citizens is inevitable in entrepreneurship practice. Government must institute and monitor control for corrective action, create inclusive wealth factors, judicious utilisation of oil wealth and creation of a non-sectional enabling environment for economic growth. An updated and genuine list of the unemployed is however necessary in order to create the required impact on unemployment reduction as vacancies are filled objectively. KEY WORDS: Corruption, Entrepreneurship, Unemployment, Economic Growth, Intentional Approach, Inclusive Wealth Factors

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