Population growth and economic wellbeing in Lagos, Nigeria

Abstract

This research examined the population increase and people's well-being in Lagos, Nigeria. The data was collected between 1981 and 2020  and was analysed using the ordinary least square approach, a fully modified OLS and dynamic OLS. The result shows that there was  a positive association between housing and population increase. This is due to the fact that as the population grows, the labour  force also grows. This, in turn, would result to increases in production, with proportionate increase in home demand and increases in  government spending with resultant rise in house prices. However, there is no substantial association between inflation and housing  demand. Therefore, the real sector of the economy should be given adequate attention which would aid the country in the area of labour  absorption/population growth, and can promote provision of more housing facilities and landscaping.