Population Growth and Unemployment in Nigeria

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Population Growth and Unemployment in Nigeria

Abstract

The Nigerian economy has been seriously bedeviled by a myriad of economic malaise that has explained the slow pace of its growth rate and a severe decline in development. It is in view of the above that the study critically examined the relationship between population growth and unemployment in Nigeria. The paper employed data from secondary sources which covered the period of 1991-2016, sourced from the World Bank data base. The method of analysis was the Johansen Cointegration and Error correction model. ADF unit root test was used to establish the order of integration of the variables. Granger causality test was used to examine the direction of causality among the variables. A positive relationship was found to exist between population growth and unemployment. The result of the regression analysis shows that population plays a major role in the increased level of unemployment in Nigeria. The findings showed that population growth has a strong impact on unemployment in Nigeria. This means that a rise in population growth leads to a rise in unemployment. The study concluded that to combat the acute unemployment in the country, the Government should ensure there is job creation especially in the agricultural and manufacturing sectors. Private sectors employers should be given subsidies so as to encourage them to employ more people.

1.0 Introduction

The Nigerian Economy is typified by high level of population growth, as it 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 in the year 2012. Also, Nigeria admits to be the largest economy in Africa with the GDP standing at 13,526.25 and 14,475.38 billion in the year 2013 and 2014 respectively. Despite all these, Nigeria still faces several developmental, economic and political challenges such as unemployment, poverty, corruption, population explosion, income inequality and political instability.

Nigeria has been experiencing population growth for the past 50 years as a result of high natality rates which increases the population geometrically over time.

Unemployment occurs as a result of the insufficiency of jobs to commensurate with the rapid population growth, even those who are already employed are afraid of being rendered unemployed due to the insecurity of the job, economic recession and retrenchment of workers. (Akiri et al. 2016).

The rate of unemployment in Nigeria is growing at an alarming rate amidst growing population rate and these posses a devastating effect on the Nigerian Economy. Recently, the public violence, insurgency, high crime rate e.t.c experienced by the Nigerian Economy are assumed to be products of unemployment in a growing population. Moreover, it was argued that the greater percentages of these criminals are unemployed, potential labour force. Nigeria’s big concern however is how to produce sufficient employment opportunity so as to absorb the Country’s growing pool of labour.

Unemployment have been the major problem bothering the LDCs especially Nigeria and it is an hindrance to the attainment of sustainable development .This in fact poses a serious concern to the citizens, government, economists and other analysts in the economy and has been tagged as a barricade to social and economic advancement especially in developing nations, including Nigeria.

The unemployment situation of youths has led to socio-economic, moral and political vices such as armed robbery, thuggery, corruption, depression, rural urban migration, wastage and under utilization of human resources, high dependency ratio, etc. Unemployment situation has brought the presence of poverty in Nigeria. Successive government has employed various strategies to curb unemployment challenges, but good results have not been achieved so far.

Statement of the problem

Nigeria population requires urgent attention, regulation and control due to its excessive growth rate. This population situation of Nigeria needs to be discussed to expose many population related factors to the consciousness of the people. Nigeria for instance is suffering from high rate of poverty and unemployment. Also, there is a mass rural urban migration which creates social vices. This happens because the available industries are unable to employ all the people in the labour market.

Aim/Significance of the study

The aim of this paper is to study the growth rate of population and employment trends in LDCs. It also aims

at reviewing the profile of Nigeria population and to determine the various factors affecting population in Nigeria.

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