It’s a widespread and generally known fact that the country ‘Nigeria’ is swimming in the ocean of poverty where most of her citizens hardly afford their upkeep. Is this a natural phenomenon which was ordained by God as agreed by the the Divine Right Theorist in the theory of the creation of state, or it is caused by other factors which will still be known in the course of the writeup.
The topic under discourse can also be rewritten as ‘Underdevelopment of the Nigerian State, Causes and the solution’. Here, we would relate the economy of Nigeria with that of other countries of the world and then we juxtapose through the use of some mechanism which would be our lead to the rudiment of the matter under discourse.
There has been diverse views and opinions through which this kind of issue has been discussed by the scholars of knowledge. Some talked in the realm of the structure of the country as it has effect on the economy while some argued that not the structure that has problem, but the actors in the practice of the structure..
Nigeria, despite being a nation characterized with huge riches and an enormous populace to help business, assets, for example, oil, the degree of poverty still remains uncontrollable. Nigeria had one of the world’s most noteworthy monetary development rates, averaging 7.4% as indicated by the Nigeria financial report discharged in July 2014 by the World Bank.
As per a 2018 report by the World Bank, practically a large portion of the populace is living underneath the universal neediness line ($2 every day), and joblessness crested at 23.1%. Population development rate is higher than monetary development rate, prompting a moderate ascent in neediness.
Poverty in Nigeria can likewise be brought about by the political precariousness of the nation. Be that as it may, these projects have to a great extent neglected to conquer the three reasons for this persevering poverty: salary imbalance, ethnic clash, and political shakiness. Although, there are more other factors that also contribute to the dilemma under discourse. But, the aforementioned ones are the key factors.
Now, after a doctor gets to know an ailment, he/she would try to proffer a cure for it. Though, to eradicate poverty completely might not be easy but to reduce or curtail poverty in Nigeria, I think the following will do;
Firstly, the educational system in Nigeria should be reengineered to prepare students for real life outside the four walls of the school. It should be in such a way that with a secondary school certificate, one can survive and live unlike what we have now that some secondary school leavers can hardly speak good English which Nigeria’s lingual Franca. The government should spend more money on rehabilitating the horrible state of education as we have in Nigeria public primary, secondary and tertiary institutions today.
Secondly, government should stimulate the economy through infrastructure development like roads from rural area that will aid the smooth transportation of farm goods from the rural areas to the cities. ripple effect on the economy.
Government can also do better by supporting agriculture in terms of grants, loans, extension services, training and promote cooperative amongst farmers to upgrade their farming system.
Young people should look at societal problem and find solutions to them and make theses ideas business.
Stimulate the economy. Government to stimulate the economy through infrastructure development like roads from rural area that will aid the smooth transportation of farm goods from the rural areas to the cities. Developing amenities in the rural areas will encourage people to stay in the rural areas to farm and not rush to the cities to look for non existent jobs. The government can develop rails and water transportation. This will create activities that will have ripple effect on the economy. Government can do better by supporting agriculture in terms of grants, loans, extension services, training and promote cooperative amongst farmers to upgrade their farming system.
Diversity in the economy. As it is now, Nigeria rely on just oil for her foreign exchange earning. Nigeria is blessed with so many resources that she can be great in agriculture, mining, tourism, entertainment and sport etc the potential in Nigeria is huge that is if only The government will deliberately focus on diversifying the economy.
Another thing I will talk about here is corruption. The major problem in Nigeria is corruption in high places as well as the corruption of our moral and conscience as a nation. This has to be deliberate. If those in Government can come together and decide to stop corruption then the country will move forward and the resources of the nation will be judiciously used for the entire populace. When a senator would know that it is the poverty of the mind to own 50 houses in Abuja why people in his or her local government and Nigeria at large are suffering. It is when stealing fund meant to provide infrastructure and amenities are not stollen but used for the purpose they were meant for that the kind of change we need will begin to materialized.
In conclusion, the alleviation of poverty is down to the better and more equal allocation of resources . Although this might sound over-simplified , the above statement defines the root causes of poverty well. Poverty or the lack of material means to meet one’s basic needs to live in dignity is NOT a naturally occurring phenomenon. It is caused by the presence and interaction of complex social-economic hierarchies or structural inequalities that are based on social relations.