The Role of Financial Accounting in Economic Development Essay

The age and sex distribution of the population of Nigeria by the 1991 nose count is as shown in Table 1. 3. 2. The information Show a high proportion of kids in the population. Those under 15 old ages of age constituted about 45 per cent of the entire population. The proportion of elderly individuals ( 60 old ages and supra ) in the population constituted merely 3. 3 per cent. The age construction of the population. harmonizing to the 1991 nose count. shows a really broad-based pyramid. reflecting the big proportion of kids and immature individuals.

The big proportion of the population aged under 15 old ages portrays a big figure of possible parents. The information besides show a high kid ( or young person ) dependence ratio which. when combined with the elderly dependence ratio. gives an overall dependence ratio of approximately 1 to 1. That is. for every purportedly active ( i. e. productive ) individual in the population in the on the job age group of 25 to 64 old ages. one other individual is dependent. This is a rellatively big figure compared with the state of affairs ) n the deveioped states with vitamin E head dependence ratio of about one kid to three grownups of the on the job age groups. Furthermore. the high degree of unemployment in Nigeria means drawn-out dependence of working-age grownups on parents and on the economically active ( working ) population.

Obviously. a higher depenpendency ratio exposes considerable strain on the economic system at both the household and national degrees. The big sum of resources used to supply eating and vesture every bit good as for the instruction and wellness attention of immature people has greatly reduced the degree of nest eggs. investing and capital formation in the state.

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The high proportion of immature people in the population has deductions for future jobiessness as the economic system is non likely to spread out ( grow ) quickly plenty to suit the population. It is observed that the high proportion of immature people in the population is as a consequence of high birthrate degree and worsening mortality degree. The state of affairs of a immature and quickly spread outing population is likely to go on in the state for some clip until birthrate degree falls and the proportion of kids in the population starts take downing.