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An Economic Analysis Of Growth, Unemployment And Poverty In Nigeria

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  • Tokunbo Simbowale Osinubi

Abstract

Nigeria is a nation that is endowed with multifarious and multitudinous resources-both human and material. However, due to gross mismanagement, profligate spending, kleptomania and adverse policies of various governments of Nigeria, these resources have not been optimally utilized; these resources have not been adequately channeled to profitable investments to bring about maximum economic benefits. As a result of the foregoing, Nigeria has been bedeviled with unemployment and poverty. Economic growth, which is supposed to be a solution to the problems of unemployment and poverty, appears not to be so in Nigeria. Nigeria s official statistics show that economic growth has not always been accompanied by decline in unemployment and poverty. It is in this respect that this study finds it worthwhile to address the following questions using time series data for a 31-year period, 1970-2000: (a) what is the nature of relationship between poverty, unemployment and growth in Nigeria? (b) what steps should be taken to ensure that growth is such that brings about decrease in unemployment and poverty in Nigeria?

Suggested Citation

  • Tokunbo Simbowale Osinubi, 2006. "An Economic Analysis Of Growth, Unemployment And Poverty In Nigeria," The IUP Journal of Applied Economics, IUP Publications, vol. 0(1), pages 53-68, January.
    • Handle: RePEc:icf:icfjae:v:05:y:2006:i:1:p:53-68
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    Cited by:

    1. Nurudeen Abu, 2017. "Does Okun’s Law Exist in Nigeria? Evidence from the ARDL Bounds Testing Approach," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 11(2), June.
    2. Sibusiso Clement Makaringe & Hlalefang Khobai, 2018. "The effect of unemployment on economic growth in South Africa (1994-2016)," Working Papers 1815, Department of Economics, Nelson Mandela University, revised Mar 2018.
    3. Ademola Obafemi YOUNG, 2019. "Why Has Growth Not Trickled Down to the Poor? A Study of Nigeria," Review of European Studies, Canadian Center of Science and Education, vol. 11(1), pages 156-156, December.
    4. Emmanuel Okokondem Okon & Onoja Israel Monday, 2017. "Empirical and Evidence-Based Investigation: External Debt, Poverty and Economic Growth Nexus," International Journal of Applied Economics, Finance and Accounting, Online Academic Press, vol. 1(1), pages 37-47.
    5. Richardson Kojo Edeme & Evelyn Osaretin Ogbeide & A. Ifelunini Innocent & Sam Ugwu, 2017. "Exam nat on of the Dynam c Relationship Between Poverty and Inequal ty: Ev dence from N ger a M cro Data," International Journal of Economics and Financial Issues, Econjournals, vol. 7(2), pages 518-523.
    6. Mamoon, Dawood & Hyat, Fozia & Hassan, Shahid, 2018. "Lumping Together Democracy and Dictatorship: Has Macro Dynamics of Poverty Remained Steady in Pakistan," MPRA Paper 87672, University Library of Munich, Germany.

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