Effects of Population Growth and Private Investment on Growth of the Nigerian Economy(1986-2010)

Effects of Population Growth and Private Investment on Growth of the Nigerian Economy(1986-2010)

Author by Dr. James .a Oguntodu

Journal/Publisher: Babcock Journal Of Economics, Banking And Finance

Volume/Edition: 3

Language: English

Pages: 140 - 158

Abstract

Abstract

The growth of population tends to a dec;line in the accumulation of capital because with increase in family members, expenses increase. These adverse effects of population growth on per capita income will lead to low standard of living.This study assessed the influence of population growth on economic growth of Nigeria, between 1986 and 2010. The ordinary least squares (OLS) method was employed to analyse the data collected. The study showed a negative relationship between population and economic growth.The study also revealed that Nigeria needs major private investments that could lead to the industrialisation of the entire economy. Therefore policies should be put in place to encourage private sector investment by creating a stable investment environment thereby reducing possible investment uncertainty. It is also recommended that government should implement programmes that would aid economic development via growth as a result of continuos population growth and effort should be made by government and other concern institutions to solve the problems of unemployment and inadequate social amenities.


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