ECONOMIC GROWTH

This study investigates the determinants of unemployment in Nigeria using the Autoregressive Distributed Lag (ARDL) model and data from 1999 to 2023. The empirical findings reveal that in the short run, population growth and real GDP have a significant
negative impact on unemployment while inflation and government expenditure exhibit a positive and significant effect on unemployment. In the long run, population growth continues to have a significant negative impact on unemployment, inflation remains positively related to unemployment, government expenditure maintains a positive relationship with unemployment
while real GDP has a negative effect on unemployment, underscoring the importance of sustained economic growth in fostering employment. Based on these findings, the study recommends policies aimed at tackling unemployment. Specifically, inflation control measures should be implemented to stabilize prices and support employment-friendly macroeconomic conditions and government expenditure should be efficiently allocated to high-impact sectors such as education, vocational training, and technology-driven industries to maximize job creation.

It is impossible to overstate the importance of microfinance banking in the expansion and development of the Nigerian economy, which is why this study uses the multivariate ordinary least square (OLS) approach to regression analysis to examine the impact of
microfinance banks on economic growth in Nigeria from 1990 to 2021. The primary microfinance bank activities that significantly and favorably influence economic growth in Nigeria, according to the OLS regression estimates, are microfinance bank loans
(MBL), microfinance bank investments (MBI), and microfinance banks' contributions to agricultural (MBCA). However, neither the microfinance banks deposit (MBD) nor the inflation rate (INF) significantly affect Nigeria's economic growth, indicating that they
did not spur economic growth in Nigeria throughout the research period. The research makes several recommendations, including encouraging microfinance bank activities, particularly lending to, investing in, and supporting the agricultural sector given its
importance to the expansion of the Nigerian economy