Treasure Magazine Volume 5 | Page 4

Treasure Magazine

3 is fast gaining ground at the expense of the increasing labour supply of the country . Nigeria is one of the many countries whose citizens go against the laws of the land to mass produce labour ( i . e . giving birth to more than four children ) and the so many higher institutions in the republic are not failing in their duties to graduate thousands of labour into the fast growing capital intensive society . Perhaps that could be one of the reasons behind the misbehaviors of citizens who literally ought to have shunned such behaviors . I will not mention such misbehaviors but they are visible . Banks and firms are all becoming “ Robot Banks ” and “ Robot firms ” perhaps the security sphere of the economy may soon venture into this new found advancement if they have not already started . Going by modernization and development I will personally applaud this sectors of the economy but I want to ask a question which is “ where and what do they want the labour that have been working with them all this while and the thousands of the newly coming in labour to be doing or better put what is the fate of labour ?” Because I know that these sectors are well out to maximize profit and it ’ s obvious that the machines are faster ways of actualizing this motive so you can guess which alternative this sectors will settle with between labour and robot machines . Profit making is extremely paramount for any business venture that must survive and as a matter of fact I wouldn ’ t venture into a business to make losses but it ’ s necessary and crucial to observe your location of production first before your choice of specialization ( labour intensive or capital intensive ) which is where the Government comes in . No industry will choose labour over capital considering the long run effect but we know that our labour resources is ever growing so even if they face out in the long run they will be a great reserve of available resources to readily substitute them . So I am suggesting that the government should make policies that promote more Labour intensive activities by firms and little supplementing capital ( machine usage ) activities if the current unemployment in the society must reduce bearing in mind that the losses in such policies are minimal with Nigeria as a case study . Secondly if the economy must keep operating under the capital intensive nature that is fast taking over the economy then legislation should be made to reduce the number of births in the country if possible to two children per individual against the original four which is not even well practiced . Also the Government must see the need to operate under a closed economy for a while at least for a period long enough to build up the internal labour ability within the country . Importation should be limited to extremely “ alternative less ” raw materials that are resources that cannot be produced in the country and has no alternatives . It ’ s high time we start checking all the advantages and disadvantages that accompany any technological innovation we choose to adopt if unemployment