UNEMPLOYMENT, INCOME INEQUALİTY AND POVERTY: THE HALLMARKS OF THE AFRİCA’S LARGEST AND STRONGEST ECONOMY; NİGERİA
Journal Title: Asian Economic and Financial Review - Year 2015, Vol 5, Issue 11
Abstract
Nigeria indeed has one of the world?s highest economic growth rates especially from the opening years of the current century. The economy has been one of the vibrant ones as a result of the abundance of human and natural resources in the country, including agricultural and petroleum resources. On the contrary, Nigeria signifies a paradox of the above feats. Unemployment, income inequality and poverty in Nigeria, remain remarkably high despite impressive economic growth. High unemployment rates make personal incomes extraordinary divergent. Income inequality in the country has been worsening ever since as a result of differential access to infrastructure and amenities. Oil wealth has always been unequally distributed in the country favouring urban areas at the expense of the rural areas. Consequent upon these, poverty has been on the increase. As at 2014 the poverty level in Nigeria stood at 63 percent of the population living below $1 a day. The main reason for this pathetic situation has been corruption and the consequences have been very costly to the nation. Peace has eluded the country with insecurity almost everywhere in the country at the expense of the sustainable social and economic development desired by the citizens of the country. This paper intends to trace the history with a view to explaining the why and how of the problem in the most populous and resources endowed nation of Africa, i.e. Nigeria.
Authors and Affiliations
Aliyu A. Kware| Department of History and International Studies Federal University, Birnin Kebbi, Nigeria
Keywords
Related Articles
- EP ID EP2236
- DOI -
- Views 490
- Downloads 39
THE COMPOSITION AND REGULATION OF THE FINANCIAL SERVICES SECTOR IN ZIMBABWE
Zimbabwe’s financial services sector continues to be found falling short in terms of observing corporate governance principles. The majority of the problems racking the sector are due to the existence of a number of regu...
AN EXPLORATION ON THE BUSINESS MODEL OF SOCIAL ENTERPRISES OWNED BY CHINESE ENTREPRENEURS IN TAIWAN
This study aims to explore the business models of the social enterprises owned by Chinese entrepreneurs and tries to construct a business model. In order to overcome the shortcomings of a lack of objective verification i...
THE RELATIONSHIP BETWEEN GROWTH AND EMPLOYMENT INTENSITY: EVIDENCE FOR DEVELOPING COUNTRIES
The main objective of this paper is to contribute to the literature on employment-GDP elasticities by assessing the determinants of cross-country variations in employment elasticities, focusing particularly on the role o...
MICROLOANS AND AGRICULTURAL SECTOR INCOMES IN DEVELOPING COUNTRIES: AN EMPIRICAL STUDY OF THE PRU DISTRICT IN GHANA
The agricultural sector of developing countries continues to contribute significantly to Gross Domestic Product. However, majority of actors in the sector remain low income earners and inequality exacerbates. Several int...
CEREAL BANK AS A NECESSARY RURAL LIVELIHOOD INSTITUTE IN ARID LAND, MAKOJA VILLAGE, DODOMA-TANZANIA
In 2012, the study was carried at Makoja Village, in Semi-Arid region of Dodoma. The aim of the conducted study was to assess the importance of Cereal Bank to livelihood of farming households. A total of 80 respondents w...