Impact of Nigerian population growth on economy

Nigeria's population has doubled from 95 million in 1990 to close to 200 million, presenting a significant challenge for the country's economy. Tope Toogun, Facilitator of Human Capital at the Nigeria Economic Summit Group, highlighted the lack of a blueprint to address this population growth and the urgent need for a focused strategy. The impact of this rapid population increase is evident in the areas of education, health, and employment, where Nigeria is falling short. The country currently faces the dilemma of being the world's poverty capital while having a population that requires basic necessities such as food, leading to high levels of food imports. To address these challenges, Toogun emphasized the importance of focusing on agriculture and expanding technical and vocational skills development. With a significant number of graduates who are not employable due to a lack of technical skills, investing in this area is crucial for economic growth. The goal of driving growth to 7% by 2020 without relying on oil requires a focus on human capital development. Toogun explained that expanding people's ability to earn income through skills development and productivity is key to driving economic growth. To address these issues, Toogun proposed partnerships between the government and organizations like the Nigeria Economic Summit Group to establish focus labs and delivery units dedicated to developing a comprehensive blueprint for addressing the human capital challenge. These units would track progress, build capacity within relevant government agencies, and ensure the implementation of strategic plans to drive economic development.