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Friday, 4 September 2015

POVERTY AND NIGERIA ECONOMY

Poverty is defined as inability to afford adequate standard of consumption ie situation of low income consumption.
POVERTY LINE: this is an income level suppose to be just enough to avoid inadequate consumption.
POVERTY TRAP: This is a tax and social security system which makes it difficult for the poor to escape from poverty.

                                         FEATURES OF POVERTY             


*. Illiteracy 
* Poor health
* Poor access to clothing,food,shelter
* Lack of skill and gainful employment
* Few economic assets
* Lack of self esteem
* Inability to meet social and economic obligations
                 
                                      EFFECTS OF POVERTY

   The effects are: Lack and deprivation in the basic necessities of life is worrisome poverty humiliates and dehumanizes its victims.


                                      CAUSES OF POVERTY

  * Natural disaster such as drought,war, and environmental degradation.
  * Structural adjustment reforms
  * Changes in the domestic economic policies resulting in price change, increased unemployment 
  * Population explosion
  * Low utilization of natural resources 
  * Mismanagement of available resources
  * Corruption.

                                 METHOD AND AGENCIES OF POVERTY ALLEVIATION AND ERADICATION.


                       In a bid to eradicate poverty, government initiate different policies  and programmes between 1986,2000,and presently. These programs are:

* Directorate of food, road, and rural infrastructure (DFRRI)   
* Better life program (BLP)
* Natural directorate of employment (NDE)
* Peoples Bank of Nigeria (PBN)
* Community Bank (CB)
* Family support programme (FSP)
* Family economic advancement programme (FEAP)
* Poverty eradication programme (NAPEP) etc. 

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