POPULATION EXPLOSION AND STANDARD OF LIVING IN NIGERIA

The objective of this study is to investigate the overall impact of population growth in Nigeria. It contributes to existing research on the economic consequences of population expansion in the country. In this study, the population growth rate is used as an indicator of population explosion, while GDP per capita serves as a measure of prosperity and living standards. The research employs a regression methodology, utilizing secondary data. The analysis incorporates Trend Analysis, Descriptive Statistics, and Least Squares techniques. Findings from the ordinary least squares regression show a positive correlation between GDP per capita and population growth rate, while a negative relationship exists between GDP per capita and unemployment. Based on these findings, the study recommends that Nigeria maintain its current population growth rate, as it is positively associated with economic growth. Additionally, it suggests that efforts should focus on fostering economic development, as economic growth drives population growth. The study also advocates for viewing population growth as a potential asset rather than a burden, given its long-term equilibrium with economic growth. Lastly, the paper recommends that the government take proactive measures to manage the population growth rate and presents policy options for controlling population explosion while promoting sustainable economic development.