-
The Impact Of Population Growth On The Nigerian Economy (1980-2010)
CHAPTER ONE -- [Total Page(s) 4]
Page 2 of 4
-
-
-
Consequently, the world population has been increasing and the last two
decades have been demographically unprecedented as it rose from 4.2
billion people in 1985 to 6.4 billion in 2010. Much of this occurred in
the developing nations as their population grew from 3.7 billion to 5.1
billion as against that of developed nation which grew from 1.1 billion
to 1.2 billion over the same period (United Nation 2001 billion).
Nigerian‟s
population is one of the fastest growing population in the world and
Nigeria is the most populous country in Africa, ranked the tenths as
obtained from two major sources, viz the 1991 census and the Population
Reference Bureau World Population Data Sheet.
Obviously, the
population of Nigeria is large which makes it a “giant†relative to the
other Africa countries. The large population of Nigeria implies a large
market for goods and services as well as large pool of human resources
for development. However, the impact of population on development
depends not only on the absolute size but also on its quality. The major
function responsible for the rapid increase in the population of the
country is the relatively high fertility level as portrayed by a total
fertility rate of about 6.0 life - birth per woman in the 1990‟s
Having
seen from theoretical and empirical view that the population growth is
an impediment to the economic growth and development especially under
developing countries. It is then important to answer this question, how
detrimental is population growth to the economic growth? To answer these
we look into the interactions between population growth and any of the
economic variable such as , population growth, unemployment, savings
,interest, and inflation etc. So in this research work, our
demonstration of the impact of population on economic growth will be
based on the study of the relationship between population growth,
interest, unemployment and inflation. Now the question to answer becomes
how those population growth influences unemployment? Since we are
working on the impact of population growth on Nigeria, as whose
population according the 2006 census was estimated to be at a growth
rate of 3%, our limitation of this study would be on the Nigeria GDP
(Gross Domestic Product) or GNI (GROSS NATIONAL PRODUCT) versus the
population growth rate of Nigeria.
Nevertheless, economic growth is
the GDP OR GNI divided by the total population of the whole country.
This measures the level of output in the economy. This equation implies
that if population is rapidly growing, the economic growth will reduce
marginally and people income will also decrease. So according to the
finding, GDP can be improved that is GDP per capital by checking the
population growth rate through birth control, death rate, migration and
some other economic variables and demographic variables.
CHAPTER ONE -- [Total Page(s) 4]
Page 2 of 4
-
