INFRASTRUCTURE DEVELOPMENT AND NON-OIL OUTPUT: Panacea for Reducing Unemployment in Nigeria
INFRASTRUCTURE DEVELOPMENT AND NON-OIL OUTPUT: Panacea for Reducing Unemployment in Nigeria |
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Category: Conference Articles
Author: Peter Siyan, Anthony Emmanuel Hassan & Isa Nurudeen Mohammed
Year:2012
Abstract: The main objective of this study is to investigate the role the level of development of some infrastructure has played in promoting job creation and economic growth, employing the ordinary least square methodology. The study used data covering the period of 1981 to 2010 for the Nigerian economy and found that various forms of transportation matter for unemployment at different degrees and with different effects. Pipe line, water and air transport activities reduced unemployment with only water transport activity being significant. Surprisingly, road transport which is the most developed and broad was found to have fueled unemployment significantly in the economy. We found transport and electricity outputs to have significant effects on aggregate economic activities in the Nigerian economy with air transport and electricity having positive effects while road and water transport had negative and significant effects. Communication and capacity utilization had negative and positive, as well as insignificant effects on aggregate economic activities respectively. It was found that the non-oil production activities (represented by manufacturing output) not generating employment as expected. This brings to bear the need for the government and other stakeholders in the economy to channel more resources into the development of economic infrastructure particularly power generation and transportation, and reposition the non-oil sector to create jobs and wealth for the teaming unemployed youth in the country. The adequacy and efficiency of economic infrastructure have implications for industrial output growth and, by implication, job creation and poverty reduction.
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