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Effect of Population Growth and Poverty on Economic Growth in Nigeria

Chidum Chibueze Chinda

Abstract

The study examined the effects of population growth and poverty on economic growth in Nigeria from 1990 to 2023. Annual time series data on Real gross domestic product, Population Growth Rate and Poverty were collected from secondary sources. The dependent variable was economic growth which was proxied by Real gross domestic product. The independent variable – population growth was disaggregated into rural and urban population growth rate and poverty rate. Data collected for the study were analyzed using the Autoregressive Distributed Lags. The result indicated that urban population growth rate has significant impact on real gross domestic product both in the long-run and short-run. Why rural population growth rate only impacted on real gross domestic product in the long-run. It thus means that population growth rate has effect on economic growth in Nigeria. The study therefore concludes that population and poverty reduce economic growth and development in Nigeria within the period of study. This study therefore recommended amongst others that government should ensure that Nigeria’s human resources are channeled into areas of the economy where they are needed to be fully utilized in bringing about high rates of economic growth and development for the country. There is need to evolve policies and programmes that will enhance industrialization, reduce unemployment and increase per capita income which will in turn reduce poverty and enhance economic growth and development in Nigeria.

Keywords

Urban population growth rateRural population growth ratePoverty rateNigeria.

References

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