The Population of Nigeria attained a value of 206,139,530 People in 2020
The indicator recorded a historical growth (CAGR) of 2.60% between 2017 to 2020, and is expected to grow by...
GlobalData projects the figure to grow at a CAGR of ...
Global Population: Overview
Population is defined as the total number of people residing in a country or region.
The global population is currently growing at a low single-digit growth rate per year. The annual population growth rate is anticipated to be 81 million people per year. The world population has more than doubled from 1959 to the 2000s. The annual population growth rate reached its peak in the late 1960s. Since then the rate of increase has nearly halved and is expected to continue to decline worldwide in the coming years.
Population Growth Analysis of Nigeria
Between 2017-2020, the population of Nigeria was highest in 2020, reaching 206,139,530 people. The country witnessed significant growth in total population in 2020 when compared to the previous years among both the male and female population. The population of Nigeria has exponentially increased since the 1960s.
Between 2016 and 2019, Nigeria’s population grew at an average annual rate of 2.6%. According to GlobalData, the population is expected to grow to 216.7 million by 2022. The growth in the population is spurred on by early marriages, high birth rates, and a lack of access to family planning clinics.
Population Segmentation of Nigeria
Gender: The male and female population of Nigeria witnessed a low single-digit YoY growth in 2020. Among the male and female population of Nigeria, the country in most of its history has had a large number of male population over the female population.
Urban and Rural Population: Nigeria had a larger proportion of people living in urban areas than the rural areas in 2020. Prior to 2020, Nigeria had a larger proportion of people living in the rural areas. The urban population in Nigeria has been rapidly growing in the last few years, reporting a low single-digit YoY growth in 2020. The population of rural Nigeria remained steady from 2019 to 2020.
Age: Most of Nigeria’s population is between the ages of 15 and 64. In 2020, 41.7% of the population was below 15 years of age, 55% was in the working-age bracket (15– 64), and 3.3% were aged above 65 years. The working-age population is expected to increase to 56.5% in 2025. Nigeria’s under 15 age group is expected to decline from 44.2% in 2010 to 40.1% in 2025. Approximately 97% of Nigeria’s population was aged below 65 years in 2020, which is a positive sign for the country’s future as it provides the country with a huge demographic dividend that it can exploit.
Factors Affecting Population Growth in a Country
Population growth of a country depends on multiple factors including the economy, female fertility rates, birth rates, death rates, healthcare facilities, increasing urbanization, immigration & emigration rates, education, and other social & cultural aspects.
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