Volume 2, Issue 5
___________________________________________________________ EFFECT OF POPULATION ON ECONOMIC DEVELOPMENT IN NIGERIA: A QUANTITATIVE ASSESSMENT ADEDIRAN OLANREWAJU ADEWOLE*
This study examines the effect of population on economic development in Nigeria. Thus, Malthusian theory of population is relevant to Nigeria as a developing economy. The study used trend analysis of the study with the scope spanning between 1981 and 2007. The study adopted ordinary least square method of analysis. In examining the time series properties using the Phillips-Perron (PP) non-parametric unit root test. The analysis showed that real gross domestic product, population growth and per capita income are non-stationary at levels, but the null hypothesis of non stationary is rejected at first difference for both test models with intercept and trend. The study revealed that population growth has positive and significant impact on economic sustainability proxied as real gross domestic product (RGDP) and Per Capita Income. The study later proffer various policies options which government can implement for better economic development as a result of continuous population growth.
Key words: Population, Economic sustainability, Resources allocation
* DEPARTMENT OF ECONOMICS, CRESCENT UNIVERSITY, P.M.B.2104 SAPON, ABEOKUTA, OGUN STATE, NIGERIA. A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories Indexed & Listed at: Ulrich's Periodicals Directory ©, U.S.A., Open J-Gage, India as well as in Cabell’s Directories of Publishing Opportunities, U.S.A.
International Journal of Physical and Social Sciences http://www.ijmra.us 1
Volume 2, Issue 5
In recent times, policymakers in the country have shown great concern in the economic growth of the nation. Both urban and rural economies have come under the lens of the policy makers to check what the real factor(s) that enhance economic growth. However, it has been accepted that economic growth is mainly affected by the population explosion, because the more the human activities the more driven economy will be and this in-turn brings the needed growth in the economy. For instance, fewer people live in rural areas which has little or no economic problem compared to urban, semi urban area that have more population. The federal government at one time or the other has introduced many policies to consciously enhance economic growth through the distribution of the nation’s population evenly. It was thus realized that one of the factors responsible for the development of human capital formation in turn affects the economic growth of a nation. Nigeria is the most populous and largest demographic population census in Africa, with 56m total population census count in 1963. During this year the major economy resources was only agriculture and it’s principal export are cotton, cocoa, palm oil, rubber and timber. These agriculture resources constitute the gross domestic product (GDP) which is used to measure the economic growth with the total population of 79.8m, around 1970 when Nigeria discovered oil as a natural resource, the labour force of Agricultural tends to reduce the about 30% compared to 1963. In this the labour force abandoned agricultural for oil because of higher incentive and more so people from the rural area that also contribute mostly to the economic growth of agriculture move to the urban areas to search for a white collar job which eventually lead to the decrease in agriculture. The efforts of governments in the developing countries to feed their peoples and also provide quality social services for them are being frustrated by rapid population growth. This growth is...