GRADUATE UNEMPLOYMENT AND ECONOMIC GROWTH:NIGERIAN EXPERIENCE UNDER DEMOCRATIC GOVERNMENT

This paper examine the far reaching impact graduate unemployment have had on the economic activities in Nigeria since the inception of this present democratic government that started in 1999. The objective is to find out the relationship that exist between graduate unemployment and economic growth (Gross Domestic Product) using data collected from Central Bank of Nigeria and National Bureau of Statistics. A regression model was applied using unemployment as the dependent variable and Gross Domestic Product (GDP), Real wage, per-capita income Adult literacy rate and population as independent variables. The result showed that there is a negative relationship between graduate unemployment and GDP and Real wages. It was also found that corruption, lack of political will to implement economic policies and reforms, over dependence on oil sector and poor educational planning are the major causes of graduate unemployment in Nigeria and until these factors are addressed the economic activities in Nigeria will continue to be attacked or plundered