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Pyrex Journal of Business and Finance Management Research

February 2017 Vol. 3(2), pp. 34-56

ISSN: 2550-7877

Copyright 2017 Pyrex Journals




Full Length Research Paper


Relationship Between Economic Growth and Poverty Reduction in Nigeria


Stephanie Gangas

Emmanuel International College, Jos, Nigeria.

Corresponding Author E-mail: quimagangas@gmail.com

Accepted 12th January, 2017



Abstract


This paper explored the relationship between economic growth and poverty reduction in Nigeria. From the analysis, our findings indicate that the initial level of economic growth is not prone to poverty reduction, while an increase in economic growth is prone to poverty reduction, a situation that can only be sustained and improved upon if certain policy measures are put in place Poverty is what affects the majority of a population. More than 70% of Nigerians lack the usual or socially acceptable amount of money or material possessions needed to live a happy life. This unfortunate category of Nigerians lack material comfort and in plain language they live from hand to mouth. Poverty in Nigeria is extreme. It covers a wide range: from absence of basic amenities like food, shelter, water, hospitals and electricity, good roads and good schools to absence of security and access to productive resources including education, working skill and tools, political and civil rights to participate in decisions concerning socio-economic conditions.

Keywords: Economy, Nigeria, growth, poverty, population.

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