Economic growth and poverty reduction in Nigeria

Type Journal Article - International Journal of Business and Social Science
Title Economic growth and poverty reduction in Nigeria
Author(s)
Volume 2
Issue 15
Publication (Day/Month/Year) 2011
Page numbers 147-154
URL http://www.ijbssnet.com/journals/Vol_2_No_15_August_2011/17.pdf
Abstract
Studies on economic growth indicates that economic growth is essential for poverty reduction, especially
when it leads to increase in employment and improvement in opportunities for productive activities among the
people that are poor. Using a multiple regression analysis this paper therefore examines the impact of
economic growth on poverty reduction in Nigeria by taking into consideration a time subscript and a
difference-in-difference estimator that describes poverty reduction as a function of changes in economic
growth. The result obtained indicates that the initial level of economic growth is not prone to poverty
reduction, while a positive change in economic growth is prone to poverty reduction. To therefore improve
and sustain the rate of economic growth in Nigeria from which poverty could be reduced measures, such as,
stable macroeconomic policies, huge investment in agriculture, infrastructural development and good
governance are suggested.

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