In economic sense, population explosion is not totally bad especially for developing countries.
The projection of over 20000 new births in the New year 2018 for Nigeria by the United Nation Children Funds (UNICEF) has raised concern about how to manage this massive population growth. Yet, this sporadic growth in a population possesses economic opportunities for some business ventures in Nigeria.
According to UNICEF, this number of babies born in Nigeria represents the third largest population of newborns in the world on January 1, 2018. India and China occupied first and second positions with 69,070 and 44,760 newborns respectively.
A post by Mr Akin Oyebode explains the grave impacts of this population explosion. He stated that the country is about facing a potential increase in unemployment, poverty rate e.t.c. All these are noted as would-be impacts of overpopulation on the Nigerian economy.
Also Read: More than 20,000 new babies to be born on New Year Day in Nigeria - UNICEF
But the good side, productivity of some sectors is sure to increase as a result of upward demand for their products. These businesses thrive on the availability of large consumer market, hence making this news a good on their sides of the divide.
Here are 7 major businesses that would benefit from current population increase.