IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
Vol. 1 No. 8 2015

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Eradicating Extreme Poverty in Nigeria: An Appraisal of Millennium Development Goal One (MDG 1).

Agara, Jummai Jakonda, Pojwan, Martina Alexander

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Abstract

Nigeria is blessed with an abundance of human and natural resources and has the fastest growing economy in Africa, yet, it is listed among the poorest countries in the world. This is an irony that has baffled not only Nigerians but the international community as indicators of poverty like hunger, child malnutrition, homelessness, diseases and high mortality rates are obviously evident in Nigerian societies, particularly in the rural areas. For more than three decades, Nigeria has struggled to eradicate extreme poverty. The country has embarked on numerous development policies and programs (of international and national origin) in an effort to achieve this goal. One of such is the Millennium Development Goals (MDGs) a 15 years development plan which was adopted by world leaders in the year 2000 to be achieved by year 2015. It is against this premise that this theoretical research which employs the primary method of data collection reviews the extent of poverty in Nigeria and evaluates the efforts of MDGs in the eradication of extreme poverty in Nigeria. Focus will be on the former aspect of the first Millennium Development Goals which is the eradication of extreme poverty. From this review, it is revealed that the poverty line has barely declined as poverty still lingers in more than half the populace of Nigeria. The paper therefore recommends that government should insist on the successful completion of previous development program before inaugurating new ones

keywords:

poverty, development, poverty prevalence, policies and Millennium Development Goals (MDGs).

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