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 600
- Downloads 39
DOES TRADE WITH LABOUR SENDING COUNTRIES REDUCE DEMAND FOR MIGRANT WORKERS: A LESSON FROM MALAYSIA
This paper has three objectives. The first objective is to examine the long-run relationships among exports, imports, income and demand for migrant workers. This is followed by a causality test between these variables as...
AN EMPIRICAL ANALYSIS OF EFFECT OF PUBLIC DEBT ON ECONOMIC GROWTH IN INDIA IN THE POST-REFORM ERA
The present paper examines the causal nexus between public debt and economic growth for 15 NSC states of India for the period 1991-2015 using Dumitrescu Hurlin causality test. The panel causality test identified the endo...
A FRAMEWORK TO CHARGE FOR UNIT-LINKED CONTRACTS WHEN CONSIDERING GUARANTEED RISK
Risk management for investment guarantees with unit-linked contracts is very critical for the insurer. This paper proposes a framework to charge for guaranteed risk when the insurer reserves for the guaranteed risk. This...
OPTIMAL TAX POLICY – FINANCIAL CRISIS OVERCOMING FACTOR
Among economic reforms implemented for overcoming of world financial and economic recessions the special accent is brought to macroeconomic stabilization; strengthening of financial sphere is recognized one of imperative...
DO CORPORATE GOVERNANCE AND SOCIAL PERFORMANCE DIFFER BETWEEN FAMILY-OWNED AND NON-FAMILY-OWNED BUSINESSES IN TAIWAN-LISTED CSR COMPANIES?
The objective of this analysis into examines the social performance and corporate governance differences between family-owned firms and non-family-owned firms, along with the impact of corporate governance variables. The...