The study examined effect of population growth and unemployment rate on economic growth in Nigeria. The objective of the study is to determine how population growth rate and unemployment rate have affected economic growth for the period of 1981 to 2021. The variables used in the study are; gross domestic product growth rate, which serves as the dependent variable while population growth rate, unemployment rate, gross fixed capital formation and total government revenue serves as the independent variable. Data were obtained from United Nations World Population Prospects and World Bank Development Indicators (WDI) for the period of 1981 to 2021. Due to the mixed order of integration in the model, Auto Regressive Distributed Lag (ARDL) approach was applied in analyzing the data. The result showed that population growth and unemployment have significant impact on economic growth in Nigeria. But individually tested, it shows that, population growth has a positive and significant impact on economic growth in Nigeria, while unemployment has a positive insignificant relationship with economic growth in Nigeria. This study recommends that certain strategies must necessarily be instituted within the framework of the Nigerian society so as to constitute incentives for attracting and committing individuals, especially those considered in this exposition, to embrace the need for serious and practical involvement in population control measures and check. Government should as a matter of urgency, create avenue for improved investment climate in order to encourage entrepreneurial development in the economy; this will in the long run reduce unemployment rate in the country.
Population growth rate, unemployment rate, economic growth, gross fixed capital formation, government revenue.
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