Purpose — This paper aims to examine how Nigeria's economic growth over the past two decades has contributed to poverty reduction.Method — This study adopted the desktop research method of qualitative and quantitative data and used various sources, including academic journals, publications, books, articles, and reports. The National Bureau of Statistics (NBS) of Nigeria, the United Nations Development Programme (UNDP), the Human Development Report, the World Bank Indicators, and the Central Bank of Nigeria (CBN) Statistical Bulletin are all places where secondary statistical data comes from.Result — Nigerian economy has experienced significant growth over the last two decades, but poverty rates in the country remain high. We also discovered that the Nigerian economy's high level of inequality, corruption, jobless growth, and monocity are some issues that have hindered the translation of economic growth into significant poverty reduction.Recommendation — Based on the analysis of this research and the peculiarity of the Nigerian economy, this paper recommends that diversification of the economy, investment in public services, and policies that encourage pro-poor growth are effective strategies that would lead to more significant poverty reduction. In addition, there is a need to study the nature of inequality in Nigeria. An in-depth study needs to be done on income inequality and the multidimensional forms of inequality prevalent in the country.Contribution — Research on economic growth and poverty in Nigeria mostly concentrated on the relationship between these variables. Only a few studies have investigated why the poverty rate continues to rise amid economic growth. This study tries to fill this gap and contribute empirically to the current literature on economic growth and poverty in Nigeria by studying the economic situations and factors surrounding the country's rising poverty rate.
Poverty is a disease that continues to cause insecurity and other forms of social vices in a country, which in turn affects the growth and development of the nation. The increasing poverty rate, especially in Nigeria, has become a complex problem that has resulted in economic degradation, which must be immediately resolved. Therefore, this study examines poverty and its intractability in Nigeria: causes and consequences. The study analyzes the data using Ordinary Least Square methods. The data were obtained from Federal Reserve Economic Data and the National Bureau of Statistics (NBS). The results indicate that the poverty rate will rise by 0.035375 and 2.564296 units, respectively, for every unit increase in population and unemployment (UMP). Besides, the result shows that a unit increase in the human development index (HDI) will lead to a -4.347621 decrease in the poverty rate in Nigeria. The framework affirms that poverty is an intractability in Nigeria. The study consequently suggests that the government, non-governmental organizations, and private citizens prioritize funding for human development and embrace a solid fiscal policy that will boost economic output and lower the country's degree of poverty.
This article emphasizes the use of mathematical logic in scientifically examining and explaining the economic challenge of massive youth employment crisis, under capacity development and unbridled household consumption of telecommunication services. The proposed model is called GSM-EMCAD. The major finding of the paper is that training or capacity development in telecommunication is a key factor that can expand employment opportunities in this 21 st century and beyond, implying that youth employment and loss of growth opportunities in Nigeria can be explained by the rapid innovation in global system for mobile telecommunication and the mismatch between market realities and labour skills set as opposed to many other factors highlighted in literature. The motivation is that in a knowledge-based economy, the spillover effects from investment in GSM telecommunication and people keep generating returns. Examples are GSM telecommunications hardware and software, and other high-tech industries, play a particularly important role here.
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