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Wednesday, January 13, 2010

self-employment an avenue to solving the problems in our economy

Unemployment has been a major problem of most developing countries. The International Labor Organization has defined unemployment as a situation where a large number of economically active populations are not employed, but are available and seeking for jobs. These include people who have lost their jobs and those who have voluntarily retired.
The pathetic situation on the unemployment is as a result of the inability to develop and manage the nation’s resources effectively and efficiently by channeling them to profitable investments that could bring about maximum economic benefits to the citizenry.
As it is widely believed that urban migration-when people move from rural areas to the cities for white-collar jobs or other reasons is one of the factors of unemployment, maladministration too contributes to the level of joblessness of our teeming youths. Other negative vices that contribute to the situation include extravagant expenditures, kleptomaniac tendencies of public officers, immunity clause which protects them from being convicted gross mismanagement of resources and unfavorable policies of various administrations in the country.
To some extent poverty is aggravated by unemployment which further leads to the high rate of crimes in our society like engagements of mostly youths in oil bunkering, yahoo- yahoo, armed robbery, kidnapping, drug addiction and trafficking. The females also while struggling to provide for the household without jobs, become depressed and resort to ugly trading in prostitution.
All these could be seen major problems of the rising level of social disorder and insecurity in the nation which tend to reduce the social status and self esteem of a person in particular and the country in general.
At this stage the poverty of the mind evades youths out there, vision impairment evolves out of frustration, vision-foresight for insight through hindsight, is the world’s greatest need. Imagine every rich and capable person in Lagos develops an investment that can provide jobs for at least a fifty people i.e. if a million rich or capable people develop this kind of investments 50 million people will not be unemployed, so what is our population in Lagos. Self-employment I wouldn’t say it’s the key, but it’s an avenue to alleviating poverty in the society today, so what is self-employment?

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