ECONOMIC GROWTH INEQUALITY AND POVERTY IN NIGERIA

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Issue:

Social Issues

 

Written by:

Julie M

 

Date added:

September 24, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

56 / 15512

 

Was viewed:

8116 times

 

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Essay content:

Its GDP, which was US $93.3bn in 1980 is now currently about one-quarter of what it was a quarter of century ago.” The movement backward has been so fast, that Nigeria, which was ranked 20th in terms of size of its GDP currently ranked 57th. Moreover, associated with this serious economic retrogression in terms of GDP, is the deepening level of poverty in the country...
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For example, according to NHDR (1998), it was estimated that 48.5 percent of the country’s total population (i.e. about 55.0 million) live below the poverty line; current estimates put the percentage at between 66 and 70 percent (i.e. about 70 million people). It was also presented in the millennium report of the UNDP that the prevailing poverty situation in the country is further deepened and exacerbated by the persisting inequality as regard access to wealth, income and productive resources...
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