Explain the factors that affect the supply of labour in Nigeria.
Explanation
Factors affecting supply of labour in Nigeria are:
(i) Size of population of a country: The larger the population, the greater the labour force.
(ii) Official school-leaving age: If the leaving age is low, the proportion of labour force will be high.
(iii) Retirement age: The age of exit in public employment will determine the labour force. If it is raised, the supply of labour will be high.
(iv) Pursuit of higher education: Many people in their pursuit of higher education, go beyond the official entry age into the labour force.
(v) Age composition of population: The structure of a country's population is a significant determinant of the size of the labour force. The labour force will be increased in a country with a great number of its people between the ages of 15 and 65 years.
(vi) Role of women in the society: In some societies, women are usually prevented from engaging in gainful employment because of religious belief, social and cultural factors.
(vii) Number of working hours and working days: The number of working hours per day and the number of working days in a week or a year also help to determine the labour supply