Concept, Measurement and Causes of Poverty: Nigeria in Perspective

Olowa, Olatomide Waheed

doi:10.5923/j.economics.20120201.04

Cited by 39 publications

(15 citation statements)

References 23 publications

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“…However, the study concludes that income inequality is a great determinant of poverty. Olowa (2012) examined the measurements and causes of poverty in Nigeria. The review identified the causes of poverty to include low economic growth, unemployment, low productivity and wages in the informal sector, inappropriate macroeconomic policies, economic degradation, crime and violence, workers' retrenchment among others.…”

Section: Literature Reviewmentioning

confidence: 99%

Poverty drivers and Nigeria’s development: Implications for policy intervention

Aderounmu

Azuh

Onanuga

et al. 2021

Cogent Arts & Humanities

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Several policies and programmes have been put in place to address the issue of poverty both in developing and developed countries of which Nigeria is not exempted. This study using data from World Development Indicators (WDI) for the period of 1992-2016 examined the key principles influencing poverty rate in Nigeria and their implications for policy interventions. The result of the Autoregressive Distributed Lag (ARDL) model using several equations showed that unemployment increases poverty by approximately 1.4, 1.5 and 3.3 percent in the short run while inflation reduces poverty by approximately 0.08 percent in the short run. This implies that unemployment causes poverty while inflation, public resources devoted to austerity programmes and economic growth reduces poverty in the short run.The study recommends that government should put in place adequate measures and conducive environment to encourage more business operations in the country.

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Section: Literature Reviewmentioning

confidence: 99%

Poverty drivers and Nigeria’s development: Implications for policy intervention

Aderounmu

Azuh

Onanuga

et al. 2021

Cogent Arts & Humanities

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“…Nigeria is mainly characterised by rural settlement with high poverty index (Olowa, 2012). To this effect, agricultural activity remains the major occupation of the people.…”

Section: Introductionmentioning

confidence: 99%

Farm and non-farm income diversification activities among rural households in southeast, Nigeria

Odoh¹,

Nwibo²,

Victor³

et al. 2019

jae

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The study assessed farm and non-farm income diversification activities among rural households in Southeast, Nigeria. Purposive and multi-stage random sampling techniques were used to collection data from three hundred and sixty (360) rural households using structured interview schedule. Means, percentage and frequency count were used to analyse the objectives of the study. The result showed that 82.5 % of rural households diversified their income sources into other non-farm activities as against 17.5% that depended solely to farm activities. Further analysis indicated that 64.4 % of the rural households engaged in crop production, 46.9 % practiced livestock production, 5% were into collection of forestry products, 13.1 % engaged in farm products processing while 23.3 % engaged in storage and marketing of agricultural products. However, the various non-farm activities diversified into by the households were: petty trading (53.53 %), storage and marketing of agricultural commodities (31.31 %), sale of landed property (15.82 %), agricultural wage labour (16.84 %) and hire purchase (9.09 %). Others included rental services (19.52 %), transportation (example taxis, motorcycle and tri-cycle business) (21.21 %), craftsmanship (13.46 %) and civil/public service jobs (28.28 %). The study recommended that government should improve rural infrastructures like good road network, electrification, potable water, telecommunication service, and affordable healthcare system since they are important for enhancing socio-economic activities. It is also recommended that government should initiate policy for reducing risk and uncertainties inherent in agricultural activities in order to encourage farmers to remain in the business of farming.

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“…The less privileged who wish to be economically active engage in small scale businesses. Poverty is the lack of access to basic needs such as proper nutrition, housing, water, healthcare, access to productive resources, education, work skills, tools, and political and civil rights to participate in decisions concerning their socio-economic conditions (Olatomide, 2012).…”

Section: Significance To Social Changementioning

confidence: 99%

The Financial Innovative Business Strategies of Small to Medium Scale Enterprises in Developing Country and Influence for the Global Economy Performance

Umadia

Kasztelnik

2020

SEC

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The paper summarizes the arguments and counterarguments within the scientific discussion on the issues such the financial innovative business strategies of small to medium scale enterprises in developing country and influence for the global economy performance. The main purpose of this scientific research study problem is the impact of all business strategies of small to medium scale enterprises for the global economy performance. The methodology is the synthesis literature review then observation all current and prior existing literature and facts available for the purpose of understanding the current financial business strategy withing small to medium scale enterprises in developing country. The strategies observed could assist the theorists, regulators, and scholar-practitioners in seeking solutions that may change the narrative of SMEs having stunted growth or dying before their fifth anniversary. The findings from this study could help understand what strategies work and those that do not work for SMEs. Once SMEs begin to grow and thrive beyond five years, there will be an improvement in employment level, general production level, and economic growth, which is considered a significant positive social change. The research contributed to the advancement of scientific knowledge in that is provided a research study on the financial innovative business strategies and influence for the global economy performance. The methodological implication is grounded on the fact that three different methods were used to triangulate the data collected; semi structured interview, field notes, and document reviews. The study methodological implication includes, achieving the qualitative hermeneutic phenomenological method of data collection and study. Keywords: financial innovation, microfinance, entrepreneurship, world development.

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Concept, Measurement and Causes of Poverty: Nigeria in Perspective

Abstract: The paper discusses the concept of poverty and elucidates the various methods of measurement used in evaluating poverty. Causes of poverty in Nigeria were also brought into perspective. It was concluded that inadequate economic growth is the main cause of poverty in Nigeria.

Cited by 39 publications

References 23 publications

Poverty drivers and Nigeria’s development: Implications for policy intervention

Poverty drivers and Nigeria’s development: Implications for policy intervention

Farm and non-farm income diversification activities among rural households in southeast, Nigeria

The Financial Innovative Business Strategies of Small to Medium Scale Enterprises in Developing Country and Influence for the Global Economy Performance

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