Impact Of Population Growth On The Nigeria Economy (1980 -2006)
abstract
It is said that a country’s population is the most important component of its resource base, as time potentials for development. Population growth can be beneficial to any economy if it is managed properly. For example, China is known as the world’s most populous country, but its population has been very well managed, and it has helped boost their economy by increasing productivity and providing cheap labor, thus having a positive impact on the economy and making them one of the best economies in the world. However, if a country’s population is not well managed, it will result in an increase in unemployment, crime, and poverty, as well as suffering in many homes. Methodologically, economically, and statistically and econometric methods were used, and it was discovered that the unemployment rate has a negative relationship with economic growth. Family Planning Programs were recommended. Finally, this work helps us understand that population growth can be beneficial or detrimental.
CONTENTS TABLE
The title page ————————————————————— ii
Page of approval —————————————————————- iii
Dedication —————————————————————iv
Acknowledgement ——————————————————— iv
Abstract ————————————————————————————————————————————————————————-
Contents tables ——————————————————— vi
INTRODUCTION TO CHAPTER ONE
1.1 Study Background—————————————————————1
1.2 Problem statement ————————————————- 6
1.3 Study Goals —————————————————————————————————————————————————
1.4 Hypothesis statement
————————————————- 7
1.5 Study’s Significance————————————————————————————————————————————-
1.6 The Study’s Scope —————————————————9
1.7 Study Limitations———————————————————————9
REVIEW OF LITERATURE IN CHAPTER TWO
Theoretical Literature (2.1) ————————————————— -10
2.1.1 Population Growth Theories
————————————-
12
2.1.2 The Malthusian Hypothesis —————————————————-12
2.1.3 Marxism Theory ——————————————————16
2.1.4 The Liberal Hypothesis ——————————————————17
Factors Influencing Population Growth —————————-18
2.2 Research Literature ——————————————————24
2.2.1 The Negative Effects of Population Growth on the Economy
Growth —————————————————————————————35
2.2.2 An Overview of Economic Growth Theory —————-38
METHODOLOGY AND DATA PRESENTATION IN CHAPTER THREE
3.1
The Methodology of Research —————————————————42
Model Specification (3.2) —————————————————42
3.2.1 Numerical Function ————————————————-42
Economic Procedure 3.3 ———————————————————43
3.3.1 Economic considerations ———————————————— 43
3.3.2 Statistical standards ————————————————44
3.3.3 Econometric standards ———————————————— 45
CHAPTER FOUR: RESULTS PRESENTATION AND ANALYSIS
4.1 Result Presentation ————————————————————— 49
4.2 Result Interpretation —————————————————-50
4.2.1 Statistical Criteria Evaluation ————————52
4.2.2 Econometric Criteria-Based Evaluation —————-55
SUMMARY, CONCLUSION, AND POLICY RECOMMENDATION IN CHAPTER FIVE
5.1 Executive Summary ——————————————————————58
5.2 Final Thoughts ——————————————————————60
policy recommendation 5.3 ————————————————-61
Bibliography ——————————————————————-63
CHAPTER ONE
INTRODUCTION
1.1 THE BACKGROUND OF THE STUDY
The effects of population growth on economic development in less developed countries differ because the conditions in these countries differ significantly from those in developed economies. As a result, the body of literature on Nigerian population growth has always emphasized either the negative or positive effect.
As a result, it is customary to begin any discussion with a definition of the terms being discussed. A demographer, on the other hand, can see population as a change in population size. However, when this change occurs in such a way that it reduces the size of the population, the demographer refers to it as negative growth, whereas when it increases the size of the population, he refers to it as positive growth.
One that is positive. This concept teaches us that population growth can be positive or negative depending on whether the size of a given population increases or decreases. Population, whether positive or negative, is determined by three demographic variables: birth rates, death rates, and migration rates.
Udabah (1999:62) (1999:62) More light was shed on this by mentioning that birth and death rates in developing countries differ significantly from those in developed countries. Because birth rates in developing countries are generally high, birth rates in developed countries are low. Death rates, on the other hand, are higher in developing countries. As a result, underdeveloped countries have a higher rate of population growth, which contributes to the low rates of economic growth.
development.
Furthermore, a country’s population is the most important component of its resource base. This aspect is primarily determined by its size, growth rate, spatial distribution, demographic structure, and level of education, fitness, and social welfare. Population statistics are essential inputs into any planning process. Government-issued programs, for example, in developing countries’ efforts to feed the people and provide quality services for them, are being thwarted by rapid population growth. This increase is due, on the one hand, to an increase in human survival as a result of the application of modern medical science to health issues, better sanitation, and child immunization, which has resulted in a decrease in the death rate.
On the other hand, many socio-cultural issues have positively contributed to Nigeria’s population growth (Lee and Miler 1990, Rennne 1995, Ainsword et al 1996).
As a result, the world population has been growing, and the last two decades have been demographically unprecedented, with the population rising from 4.2 billion in 1985 to 6.4 billion in 2006. Much of this occurred in developing countries, where the population increased from 3.7 billion to 5.1 billion, compared to 1.1 billion to 1.2 billion in developed countries during the same period (United Nation 2001 billion).
Nigeria has one of the world’s fastest growing populations, and it is the most populous country in Africa, ranking tenths according to two estimates.
The 1991 census and the Population Reference Bureau World Population Data Sheet are two major sources.
Nigeria’s population is obviously large, making it a “giant” in comparison to other African countries. Nigeria’s large population implies a sizable market for goods and services, as well as a sizable pool of human resources for development. The impact of population on development, however, is determined not only by its absolute size, but also by its quality. The major function responsible for the country’s rapid population growth is its relatively high fertility level, as demonstrated by a total fertility rate of about 6.0 life births per woman in the 1990s.
Given that population growth is an issue from both theoretical and empirical perspectives, Economic growth and development are hampered, particularly in developing countries. It is then necessary to address the question of how detrimental population growth is to economic growth. To answer these questions, we investigate the interactions between population growth and any economic variable, such as population growth, unemployment, savings, interest, and inflation, among others. As a result, our demonstration of the impact of population on economic growth in this research work will be based on a study of the relationship between population growth, interest, unemployment, and inflation. The question now is how these population increases affect unemployment. Since we are investigating the impact of population growth on Nigeria, whose population was estimated to be growing according to the 2006 census,
Our study’s limitation would be on the Nigeria GDP (Gross Domestic Product) or GNI (GROSS NATIONAL PRODUCT) versus Nigeria’s population growth rate of 3%.
However, economic growth is defined as GDP OR GNP divided by the total population of the country. This is a measure of the economy’s output. This equation implies that if the population grows rapidly, economic growth will slow slightly and people’s income will fall. So, according to the findings, GDP, or GDP per capital, can be improved by controlling birth, death, and migration rates, as well as some other demographic and economic variables.
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