keywords: Population structure, economic growth, demographic dividend, human capital formation
The Nigerian economy as at 2016 stands the most population African nation and the most populous black nation on earth with 185,989,640 people with a dominating working age population. The working age population in any nation is sensitive to enduring economic growth. The study examined the dynamic possible behaviours among human capital formation, population structure, and economic growth as a result of increased working age population, using the vector autoregressive scenario conditional forecasting model. The increase of working age population led to a fall in economic growth in most of the forecast periods but increased human capital formation as a result of the working-age bracket acquiring skills. However, such education should be tailored towards acquiring requisite skills that will make the working age population directly contributing to economic growth (demographic dividend) in the country.
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