Chidinma C. Mbah, Chike K. Okoli, Chinecherem M. Uzonwanne


Nigeria has been recording a rapid increase in its population over the years. This reality has posed a serious concern for the welfare of households especially as the increase in population growth puts households at the risk of financial vulnerability. Based on this, this study is on the move to examined the impact population growth induced has on household in Nigeria. The study made use of secondary data obtained from World Bank and the Central Bank statistical bulletine spanning from 1981 to 2020 to analyze the impact of population growth induced and its financial vulnerability on household using a structural vector autoregressive model (SVAR). After the analysis, the study found out that in the long run, an increase in financial vulnerability, due to an increase in population growth decreases household welfare in Nigeria. Hence, this study recommends that the Nigerian legislature should formulate a law against rapid population growth induced to ensure that the increase in population does not outscore the means of subsistence.

JEL: H10; H31

Article visualizations:

Hit counter


population growth; financial vulnerability; household welfare

Full Text:



Acharya, V. V., Bhadury, S. & Surti, J. (2020). Financial Vulnerability and RiSsks to Growth in Emerging Markets. NBER Working Paper No. 27411, http://www.nber.org/papers/w27411

Adebowale, O. & Ralitza, D. (2017). Does access to formal finance matter for welfare and inequality? Micro level evidence from Nigeria. GDI Working Paper 2017-007. Manchester: The University of Manchester.

Adekunle, C. P., Akinbode, S. O. Shittu, A. M. & Momoh, S. (2020). Food price changes and farm households’ welfare in Nigeria: Direct and indirect approach. Journal of Applied Economics, 23(1), 409-425, DOI: 10.1080/15140326.2020.1743103

Adepoju, A. O. & Okunmadewa, F. Y. (n.d). Households’ vulnerability to poverty in Ibadan metropolis, Oyo State, Nigeria. Journal of Rural Economics and Development, 20(1), 44-57

Al-Mamun, A. & Mazumder, M. N. H. (2015). Impact of microcredit on income, poverty, and economic vulnerability in Peninsular Malaysia. Development in Practice, 25(3), 333-346, https://doi.org/10.1080/09614524.2015.1019339

Chiwaula, L. & Waibel, H. (2011). Does seasonal vulnerability to poverty matter? A case study from the Hadejia-Nguru Wetlands in Nigeria. Proceedings of the German Development Economics Conference, Berlin 2011, No. 19, ZBW – Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft, Kiel und Hamburg

Edoumiekumo, S. G., Karimo, T. M. & Tombofa, S. S. (2013). Determinants of Households’ Poverty and Vulnerability in Bayelsa State of Nigeria. International Journal of Humanities and Social Science Invention, 2(12), 14-23

Finney, A. & Jentzsch, N. (2008). Consumer Financial Vulnerability: Technical Report. European Credit Research, 1-52

Guarcello, L., Mealli, F. & Rosati, F. C. (2010). Household vulnerability and child labor: the effect of shocks, credit rationing, and insurance. Journal of Population Economics, 23(1), 169-198, https://doi.org/10.1007/s00148-008-0233-4

Mba, P. N., Nwosu, E. O. & Orji, A. (2018). An Empirical Analysis of Vulnerability to Poverty in Nigeria: Do Household and Regional Characteristics Matter? International Journal of Economics and Financial Issues, 8(4), 271-276.

Mba, P. N., Nwosu, E. O. & Orji, A. (2021). Effects of Exposure to Risks on Household Vulnerability in Developing Countries: A New Evidence from Urban and Rural Areas of Nigeria. SAGE Open January-March 2021, 1–11 DOI: 10.1177/21582440211002214

Naudé, W., Santos-Paulino, A. U. & McGillivray, M. (2009). Vulnerability in developing countries. WIDER Angle newsletter, September 2009.

Németh, E., Zsótér, B. & Luksander, A. (2017). A 18-35 évesek pénzügyi kultúrája – a pénzügyi sérülékenység háttértényezői. (Financial Literacy of Youth Between 18-35: Background Factors of Financial Vulnerability.) Esély, 2017(3), 3-34

Oluwatayo, I. B. (2009). Explaining Inequality and Welfare Status of Households in Rural Nigeria: Evidence from Ekiti State. Academic Journal of Plant Sciences, 2 (1), 29-38

Poh, L. M. & Sabri, M. F. (2017). Review of Financial Vulnerability Studies. Archives of Business Research, 5 (2), 127-134

Schofield, D. J., Percival, R., Passey, M. E., Shrestha, R. N., Callander, E. J. & Kelly, S. J. (2010). The financial vulnerability of individuals with diabetes. The British Journal of Diabetes and Vascular Disease, 10(6), 300-304, https://doi.org/10.1177/1474651410385864

DOI: http://dx.doi.org/10.46827/ejefr.v5i2.1155


  • There are currently no refbacks.

Copyright (c) 2021 Chidinma C. Mbah, Chike K. Okoli, Chinecherem M. Uzonwanne

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

The research works published in this journal are free to be accessed. They can be shared (copied and redistributed in any medium or format) and\or adapted (remixed, transformed, and built upon the material for any purpose, commercially and\or not commercially) under the following terms: attribution (appropriate credit must be given indicating original authors, research work name and publication name mentioning if changes were made) and without adding additional restrictions (without restricting others from doing anything the actual license permits). Authors retain the full copyright of their published research works and cannot revoke these freedoms as long as the license terms are followed.

Copyright © 2015 - 2018. European Journal of Economic and Financial Research (ISSN 2501-9430) is a registered trademark of Open Access Publishing GroupAll rights reserved.

This journal is a serial publication uniquely identified by an International Standard Serial Number (ISSN) serial number certificate issued by Romanian National Library. All the research works are uniquely identified by a CrossRef DOI digital object identifier supplied by indexing and repository platforms. All the research works published on this journal are meeting the Open Access Publishing requirements and standards formulated by Budapest Open Access Initiative (2002), the Bethesda Statement on Open Access Publishing (2003) and  Berlin Declaration on Open Access to Knowledge in the Sciences and Humanities (2003) and can be freely accessed, shared, modified, distributed and used in educational, commercial and non-commercial purposes under a Creative Commons Attribution 4.0 International License. Copyrights of the published research works are retained by authors.