Population Growth and Unemployment in Nigeria.
Economists overtime have attributed population explosion as one of the chief causes of unemployment in developing economies. This study is designed to investigate on the impact of unemployment on the Economic growth in Nigeria for the period of 30 years (1985-2015).
This is done in other to find out its influence on the persisted occurrence of unemployment among the Nigeria youths and stagnates the growth of the economy. It focuses on those objectives.1)To examine the effect of population growth nd unemployment in Nigeria 2).
To ascertain if there is long-run equilibrium relationship between population growth and unemployment. The results revealed that population growth rate; per capita income and unemployment rate except total population became stationary at the first-order difference.
It was also found that a long-run equilibrium relationship existed between population growth and unemployment. Furthermore, the regression result showed that population growth rate, total population and per capita income significantly and positively contributed to unemployment situation in Nigeria within the period estimated.
Nigeria is the most populous nation in Africa and the 8th in the world with an estimated figure of about 170 million people based on the facts released by the National Population Commission (NPC, 2012).
In addition to this, the nation boasts of being the largest economy in Africa as the GDP figure for 2013 and 2014 stood at N13, 526.25 and N14, 475.38 billion respectively (Economic Watch, 2015).
Despite these magnificent feats, the country is still faced with several developmental, economic and political challenges such as unemployment, poverty, corruption, income inequality, population explosion and political instability.
Nigeria has a growing population, which can equally be referred to as increasing population. The census conducted in Nigeria in 1991 put Nigeria’s population at 88.9 million people with growth rate of about 3% and the total fertility rate as disclosed by the Post Enumeration Survey (PES) at about 6%.
From the statistics obtained at the 2006 Nigerian population census, Nigeria’s population stood at 140,003, 542 (NBS, 2009).
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