Population Growth in Nigeria Time Series Analysis

Notably, the results have established that an increase in population size was also associated with an increase in unemployment rates. In this regard, there is a need for the Nigerian authorities to benchmark their policy formulation based on these outcomes for proper planning and utilization of available resources. Time Series Analysis for Population Growth in Nigeria Introduction Population growth is among the major issues faced by humanity and has posed numerous challenges. Over the years, the population growth of the world has been increasing at a rapid pace. There are numerous challenges that Nigeria faces as a result of population growth such as poverty, unemployment, and insecurity. Poverty increases with increase in population 3. Insecurity increases with increasing population Significance of Study Although Nigeria is endowed with diverse resources, the stress as a result of increasing human population and poor policy measures have caused high rates of unemployment and poverty across the nation.

The poor policies result into poor utilization of the available resources in order to yield maximum benefits that satisfy the needs of the growing population. In order to address the menace of unemployment, there is need to address the educational needs of the population. Therefore, this study is important because it offers a benchmark for assessing and understanding the extent of unemployment and its relationship to the population. This is required in order to accommodate the deficit and diversity is skill levels as well as the runaway unemployment rates. The number of the working population is increasing while opportunities are limited. With the growing population, it is expected that demand form employment opportunities will increase. Unemployment is also known to be related to crime.

Karipova et al. In this regard, the study will filter out the noise and make the outcome more salient. The trend analysis will assist in establishing whether the unemployment and population are growing with time. The data used in this study was sourced from the Nigerian National Bureau of Statistics (NBS) and was collected through national census and surveys. The main data used was population size for each year and the corresponding rates of unemployment. There were no problem in the data sets and a period of ten years was selected (2000-2010) The main statistical tools used for analysis and developing the time series analyses for the two sets of data was Ms Excel. The range of the population was at 36.

23 million, with a maximum of 158. 58 million (2010) and 122. 35 million (2000). On the other hand, the unemployment rate had a range of 9. 145 for the population size and 1. 576 for the unemployment rates. All these outcomes affirm that the population size and unemployment rates increased with time, or the higher values were on the upper limit of the data set. Therefore, the result is an appropriate benchmark for policy formulation and strategic planning in ensuring that government is ready and prepared for the future population surge and concurrent unemployment rates, insecurity, and poverty. The results are a basis for policy makers to benchmark and utilize scholarship in formulating legislations that are applicable and relevant to the Nigerian population. Bloom, D. E. , & McKenna, M. J. Population, Labor Force, and Unemployment: Implications for the Creation of (Decent) Jobs, 1990-2030.