Simeon (2013) conducted a research on economic growth and poverty in Nigeria and the results revealed that there is positive and significant relationship between economic growth and poverty, which implies that economic growth does not reduce poverty. Introduction The achievement of macroeconomic goals, namely full employment, stability of price level, high and sustainable economic growth and external balance, from immemorial, has been a policy Finally, with regard to growth economics, there is the view that the most developed economies, notably the United States, have entered an era of satiation. Borrowing in an economy is classified into domestic and foreign. Unemployment and poverty are two of the major issues currently affecting Nigeria’s economy and its society. KEYWORDS: Economic Growth, Inequality, Poverty, Nigeria, Magnitude 1. For example, in the last six years, Nigeria economy has been growing at around 6 percent, while the country’s poverty rate has increased from 52 percent in 2004 to 63 percent in 2011 (Odetola&Etumnu, 2013). This test will help to capture the joint influence of the explanatory variables on the dependent variable. This study examines the impact of economic growth on poverty reduction in Nigeria using secondary data spanning from 1999 to 2014. Absolute poverty is the complete lack of the means necessary to meet basic personal needs, such as food, clothing, and shelter. This study examined the causality relationship between corruption and poverty by adding economic growth in Nigeria using data from 1970 to 2011. poverty, poverty reduction strategies and economic growth in Nigeria. The political economy of poverty, equity, and growth : Nigeria and Indonesia. Impact of Foreign Aid on Poverty and Economic Development in Nigeria. Low Economic Growth Performance: An essential factor that works towards alleviating poverty and reducing the rate of unemployment in any country, is a strong and viable economy. In the developed world, economic growth is less essential. postulates in the development literature that associate faster economic growth with poverty reduction. Blessed with resources, leaders in helms of affairs has failed in proper allocation and management of these resources thereby, creating room for inefficiency […] Presenting its six-monthly update on development in Africa's most populous country, the organisation gave a GDP growth forecast for Nigeria of 1.9% in … Nigeria's economic growth trajectory is better described as jobless and less inclusive even in the heydays of high growth regime in the 2000s. The study involves comparative analysis of the impact of fiscal policy on economic growth in Nigeria during regulation and deregulation periods. To therefore improve and sustain the rate of economic growth in Nigeria from which poverty could be reduced, measures such as stable macroeconomic policies, huge investment in agriculture, infrastructural development and good governance are suggested. ECONOMIC GROWTH AND POVERTY REDUCTION IN NIGERIA GAFAR .T. However, while the proportion of impoverished Nigerians decreased slightly, the population grew by 54.3%, increasing the absolute number of Nigerians below the poverty line. Abstract. The paper examines the implications of Casual employment on the poverty alleviation efforts of the government and economic growth in Nigeria. Unemployment and poverty are two of the major issues currently affecting Nigeria’s economy and its society. Presenting its six-monthly update on development in Africa's most populous country, the organisation gave a GDP growth forecast for Nigeria of 1.9% in … This study used the ordinary least squares (OLS) to determine the relationship between corruption and economy growth. The country’s next government should heed the lesson. Ogbole, Amadi, and Essi (2011) wrote on fiscal policy and its impact on economic growth in Nigeria (1970-2006). H 1 Globalization has impacted significantly on Nigeria economic growth within sample period. Borrowing in an economy is classified into domestic and foreign. The need to employ all available economic parameters towards linking economic growth with poverty reduction thus becomes important. Nigeria has enjoyed relatively strong economic growth over the past seven years but poverty is still a major concern. According to him, achieving optimal level of financial inclusion in Nigeria means empowering 70.0 per cent of the population living below poverty level, and this would boost growth and development. Economic growth, it is said, tends to eventuate in the "mass con1 * The present view of taste formation, while not precluding the mechanism stressed by Galbraith, is different and broader. Nigeria’s Federal Executive Council last week approved the National Poverty Reduction with Growth Strategy (NPRGS), a scheme they say will accelerate the reduction in poverty through economic growth, social protection programs, and others.. Review of Conceptual and Theoretical Issues on Poverty, Poverty Reduction and Economic Growth There are several approaches to exploring the meaning of poverty in the first instance. H 0 Globalization has not impacted significantly on Nigeria economic growth within sample period. Surging inflation is undermining the recovery of Africa’s biggest economy, pushing 7 million Nigerians into poverty and encouraging criminality as rising prices deplete already meager incomes, according to the World Bank. Asaogwa and Ezema The NESG, a private sector-led think-tank, noted in its economic report for the first quarter of 2021 that the country’s economic growth in the period under review was relatively weak. NESG said this in its economic … This study is aimed at investigating the impact of poverty alleviation programmes on economic growth in Nigeria. Specifically, it seeks to probe the actual effect of microfinance bank loans on economic growth and employment creation in Nigeria. For developing economies in Sub-Saharan Africa, economic growth enables countries to escape the worst levels of poverty. According to data released by the National Bureau of … Effect Of The Size Of The Informal Sector On Economic Growth, Total Factor Productivity And Poverty Alleviation In Kenya. This will lead to anticipated modest growth of 1.1 per cent in 2021. TradeNAIRA News is Nigeria’s Business News centre. Economic experts have warned that the rising poverty level in Nigeria would have more adverse impacts on the economy and further worsen the security challenges in the country. Nigeria is currently experiencing extreme global poverty. Introduction The achievement of macroeconomic goals, namely full employment, stability of price level, high and sustainable economic growth and external balance, from immemorial, has been a policy In its new report, the IMF said about 95 million people are likely to fall below the extreme poverty threshold during 2020–21. Such forecasts reveal that COVID-19 is likely to cause the first increase in global poverty since 1998 , when the Asian Financial Crisis hit.With the new forecasts, global poverty—the share of the world’s population living on less than $1.90 per day—is projected to increase from 8.2% in 2019 to 8.6% in 2020, or from 632 million people to 665 million people. Proposition 1 highlighted the fact that economic growth is a n important determinant of poverty reduction. According to the World Bank website, “poverty is … Nigeria had one of the world's highest economic growth rates, averaging 7.4% according to the Nigeria economic report that was released in July 2019 by the World Bank. the study introduces a new perspective on the role of corruption in economic growth and provides quantitative estimates of the impact of corruption on the economic growth in Nigeria as well as their causal relationship. F- Test: Is employed in testing the hypothesis. Nigeria is battling with a number of crushing health indicators including malaria, tuberculosis and infant and maternal mortality, all of which have a sweeping impact on productivity. The Nigerian economy over the past few years grew at one of the highest rates in Africa. Institutionalized corruption, inequality in all sectors of life, and bad governance are root causes of poverty in Nigeria. To eradicate poverty, the major focus must be on eradicating corruption at all levels first and then setting up a good governance system to promote equality. The results revealed that inflation, investment, Good growth 15 5.3 Not-so-good growth 17 6. Nigeria has enjoyed relatively strong economic growth over the past seven years but poverty is still a major concern. BELLO MICHAEL .A. T herefore, the growth-induced benefits from poverty reduction are larger for the ultra poor than for the poor, suggesting that if growth is good for the poor, it is even better for the ultra -poor. worsening scourge of poverty in Nigeria. We begin by examining different measures of economic growth and poverty and how the choice of measures may affect findings. INTRODUCTION The role of small businesses in economic growth and poverty alleviation in least developed countries (LDC) is of vital concern to policy makers, academics, laymen and managers. Economic shocks, food insecurity, and climate change threaten their gains and may force them back into poverty. Poor transport and power networks in Nigeria have stymied economic growth for decades, holding back the distribution of wealth in the country which has Africa’s biggest economy … What this means is that “the magical trickle-down effect” has failed to trickle down. Effects of Poverty and Unemployment on the Economic Growth of Nigeria. Poverty is a difficult cycle to break and often passed from one generation to the next. Nigeria is highly vulnerable to the global economic disruption caused by COVID-19, particularly due to the pronounced decline in oil prices and spikes in risk aversion in global capital markets. The study reviewed the existing literature on Casual employment and their impact on the poverty level in society and the economy. Poverty situation in this country is a special scenario that is beyond human reasoning because the nation is endowed with numerous material resources, but more than two-third of its population is living in abject poverty. Aim: The article specifically examined the relationship between poverty and economic growth, the determinants of economic growth and poverty from 1980 to 2013. The study involves comparative analysis of the impact of fiscal policy on economic growth in Nigeria during regulation and deregulation periods. The result of the data analysis indicated that agricultural production was significant in influencing the favourable trend of economic growth in Nigeria. Simple random sampling technique is used to select 105 entrepreneurs from the three senatorial zones of Osun State. The conclusion and recommendations form parts of the last section of the paper. This study concluded that poverty, corruption, debt and secondary school enrolment have the potential to retard economic growth, while mortality has a devastating effect.
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