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3 Main Causes Of Poverty In Nigeria

Iceburg
By Iceburg | self meida writer
Published 8 months ago - 3967 views

Nigeria, located on the west coast of Africa, is a country known for its booming oil economy and the number of people it harbors within its borders. With a population of nearly 200 million, it’s the most populous country in all of Africa. But while the economy of Nigeria continues to expand, the amount of people living in poverty in Nigeria grows along with it.

As of 2016, 112 million Nigerians live in poverty. In 1990, that number was 51 million. As Nigeria continues to grow, the number of people that live in poverty within its borders should not expand with it. To alleviate poverty, it’s important to understand the causes. Here are four of the root causes of poverty in nigeria. Here are five reasons why nigeria is suffering from poverty.

1. Since its founding, government corruption has plagued Nigeria. This corruption is one of the major causes of poverty in Nigeria. Government officials often take payments from oil companies that are supposed to go into public trusts payments that can often total more than $1 billion and instead siphon that money into their own personal bank accounts.

When government officials engage in this kind of corruption, the poor and underserved populations within Nigeria are inevitably hurt. If these large sums of money stopped going into government officials’ pockets, the Nigerian government could use that money to build up the country’s infrastructure,electricity, roads, running water and more.

2. Unfair distribution of material resources: Most inhabitants of Nigeria are poor because they are alienated from the existing wealth - existing both in the world in general and in our country. There are times when people have starved and died due to poor harvests, insufficient control over nature and lack of medical knowledge because they had no way of getting the most basic necessities of life.

Most inhabitants of Nigeria are poor because they are alienated from the existing wealth - existing both in the world in general and in our country. There are times when people have starved and died due to poor harvests, insufficient control over nature and lack of medical knowledge because they had no way of getting the most basic necessities of life.

Today, you can find hungry people all around food stores full of goods. Each television report about hunger clearly shows wealth - the equipment and transportation of television groups and the satellites transmitting reports to the metropolises are much more expensive than the food necessary to feed the hungry. And even in the reports of the World Food Programme of the United Nations, it is said that there is enough food on the planet to feed everybody. And of course, if necessary, it would be possible to produce even more.

Thus, only those who have no money to buy necessary food are hungry. The same applies to less life-threatening hardships like the lack of decent housing, medical care, education and different consumer goods.

3. Debt burden: The socio-economic condition in every society is largely dependent on huge capital investments by the public and private sectors. A debt ridden economy becomes handicapped and shifts focus on dept servicing instead of economic development and creation of employment. This creates a static economy and can lead to poverty. The however, has a large role to play in ensuring socio-economic development, creation of basic amenities and employment to the barest minimum.

Content created and supplied by: Iceburg (via Opera News )

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Africa Nigeria Nigerians
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