Poverty and its Intractability in Nigeria: Causes and Consequences

Abstract

Poverty is a disease that has continue to negatively influence insecurity and other forms of social-vices in Nigeria. It has also affected the growth and development of the country. This study however examines poverty and its intractability in Nigeria: causes and consequences. The study uses Ordinary least square techniques to analyze the data collected. The data were obtained from Federal Reserve Economic Data and National Bureau of Statistics. The result shows that a percentage increase in unemployment and population will lead to increase in poverty rate by 0.035375 and 2.564296 respectively. Furthermore, the result shows that a unit increase in HDI will lead to -4.347621 decrease in poverty rate in Nigeria. The framework affirms that poverty is intractable in Nigeria.  The study therefore recommends that Government, Non-governmental organization and private individuals should prioritize investing on human development.