Unemployment and Capitalists Exploitation of Young Graduates: Nigeria in Perspective

Unemployment particularly young graduate unemployment is a major development problem in Nigeria. A global threat to the achievement of the Nigeria’s sustainable development goals. It impedes the fight to end poverty in all its forms, limits opportunities to promote inclusive and sustainable economic growth, and undermines Nigeria’s ability to reduce inequalities. It is worrying that unemployment continues to grow despite major interventions. It is argued in the paper that graduates unemployment is potentially dangerous as it sends disturbing signal to all segments of the Nigerian Society. The rate of graduates unemployment in Nigeria is high, even at the period of economic normalcy i.e. the oil boom of the 1970s (6.2%); 1980s (9.8%) and the 1990s (11.5%). Graduates unemployment therefore is not a recent phenomenon as is conveyed in this study. This paper relied on secondary sources of data, and the Marxist approach as it framework of analysis to argue that ignoring the political, economic and social roles young graduates play in a society amounts to threatening the very survival of that society, Nigeria as a case in-point. Thus to reduce unemployment, the paper recommends among others, the establishment of Work Incentive Program (WIN) by the Nigerian State, as it’s done in the capitalist America Government in league with the private sector. The paper further sees hope for Nigeria only if graduates are mobilized by way of genuinely socializing them into taking their roles in the stratification system and help youth empowerment institutions address the gaps in strategies for directing youths to generating income.