Poverty Alleviation Strategies In Nigeria: A Call For An Inclusive Growth Approach

Abstract

Nigeria is now Africa’s largest economy and one of the six fastest growing economies in the world. Ironically, the standard of living of the generality of the Nigerian people is far below the Poverty line. About 69% of the population are classified as poor with over 60% living in absolute poverty. How can Nigerians be so poor in the midst of plenty? Indeed this is a paradox! This paper seeks to assess the various initiatives of the Nigerian government over the years towards tackling the incidence of poverty with a view to proffering a way forward. Employing a descriptive methodology, the study concludes that fostering inclusive growth is necessary to fast-track the progress in poverty reduction efforts. Thus, with the full complement of good infrastructure and efficient social services at both the urban and rural areas, it is absolutely imperative that government at all levels should promote a broad-based growth that generates productive employment, redistributes income, enhances equity and involves the active participation of the poor if the incidence of poverty is to be reduced in Nigeria.

Keywords: Poverty, Poverty Alleviation, Inclusive Growth, Development.