Empirical Analysis of IITA Youth in Agribusiness Model as a Panacea for Solving Youth Unemployment Problem in Nigeria

Abstract

Youth unemployment is a global economic challenge that poses threat to the security of any nation. Nigeria recorded 24% youth unemployment rate as at the second quarter of 2016. This is because the labour absorptive capacity in the formal sector is fast declining thus making the informal sector increasingly becoming the largest sector to create new job opportunities. The agricultural sector has always been a key sector for engaging this teeming young population (18 to 35 years). Therefore, curbing the problem of youth unemployment is not just about creating more wage and salary jobs, but more about increasing youth entrepreneurship. The most stimulating and attractive sector to do this in this decade is in agriculture. This study, therefore, seeks to assess the viability of Agribusiness in Nigeria, the case of Agricultural enterprises owned by International Institute of Tropical Agriculture (IITA) Youth Agripreneurs as a possible means to creating employment opportunities for youths by profiling the socio-economic characteristics of the youths, assessing the specific constraints/factors affecting youth participation in agriculture and measuring the profitability of the enterprises. The study was conducted in the Port Harcourt, Kano, Abuja, Imo where the model is being implemented. The research design adopted was a survey design where primary data were collected from 52 participating youths of the programme using questionnaire and key informant interviews while the secondary data were extracted from the databases of IITA and relevant youth-focused establishments in Nigeria. Data were coded and analyzed using SPSS. Data analytical methods utilized include descriptive statistics such as charts, frequencies tables. Our result showed that 92.4% of the beneficiaries believe that youths can be gainfully employed with this type of model. The key conclusion arising out of the study is that agricultural income tends to attract the youth towards farming. Based on the findings, appropriate policy prescriptions for scaling-up and sustainability were recommended for promotion of youth entrepreneurships in the agricultural sector in Nigeria.