People’s Perception of the Impact of Currency Devaluation on the Performance of Poverty Alleviation Programmes in Nigeria.

Abstract

Devaluation of currency is one of the global public policies prescribed by the Bretton wood institutions for economic recovering in poor nations, with reference to Nigeria. This policy is not only necessary for reversing balance of payment deficit but also to finance programmes that stimulate growth and standard of living. Inspite of devaluation policy adopted in Nigeria coupled with myriad poverty alleviation programmes, Nigeria is still classified among the poorest nations in the world. Against this background, the study examined people’s perception of the impact of currency  devaluation on  the performance of poverty alleviation programmes in Nigeria with  Edo state as a study area. To achieve this, the researcher utilized primary and secondary sources of data. 1, 350 respondents  were selected  across the three senatorial district with multi-stage sampling technique and administered questionnaire.  The collected data were analysed and revealed  among others that devaluation exacerbates poverty in Edo state and Nigeria in general. Against this background, the following  recommendations were made among others that: there should be proper funding of the programmes; there should be safe-net to protect the vulnerables; there should be people’s oriented policy rather than  externally dictated ones etc.

Key words; policy, devaluation, poverty, adminisration, programme, local government, performance