Effects of Poverty and Unemployment on Economic Growth in Nigeria

This study determined the effects of poverty and unemployment on economic growth in Nigeria for a period of thirty-four (1990 to 2023). The study measured poverty and unemployment by poverty index, literacy rate, life expectancy and unemployment rate while economic growth was measured by Gross Domestic Product. The study made use of time series data and the data were sourced mainly from World Development Indicators (WDI) of the World Bank, Central Bank of Nigeria (CBN) statistical bulletin and National Bureau of Statistics (NBS) reports. The data analyses carried out in the study include: unit root test using Augmented Dickey-Fuller (ADF), bounds cointegration test and Autoregressive Distributive Lag (ARDL) model estimation. The findings of the study showed that: poverty index and unemployment rate have negative but significant effect on Gross Domestic Product in Nigeria while literacy rate and life expectancy have positive and significant effect on Gross Domestic Product in Nigeria. Premised on the findings, the study concluded that poverty and unemployment significantly retard economic growth in Nigeria. It was recommended among others that Nigerian government should invest significantly in education to improve literacy rates across all age groups. Also, government should implement comprehensive health programs to improve life expectancy, including expanding access to healthcare services, increasing investment in public health infrastructure, and promoting preventive healthcare measures.