Population Dynamics and Economic Growth in Nigeria

Abstract

This study investigated the relationship between population dynamics and economic growth in Nigeria using time-series data spanning from 1970 to 2014. The data were analysed using ordinary least square estimation technique. The result revealed among other that all the core variables (i.e. fertility, mortality and net-migration) of the study are inversely related to economic growth during the investigated period. The study further revealed that gross fixed capital formation (GFCF) and savings are strong drivers of economic growth in Nigeria. Sequel to the findings, the Nigerian government is advised to make direct efforts toward checking the alarming fertility rate in Nigeria. Also efforts should be made to improve the quality of Nigerian labour force through more substantial investment in education and skills acquisition programmes so as to improve productivity in Nigeria.

Keywords: Population, Population dynamics, Economic Growth.