"Inclusive growth and poverty reduction in Nigeria" by Uche M. Ozughalu and Fidelis O. Ogwumike

Bullion

Title

Inclusive growth and poverty reduction in Nigeria

Authors

Uche M. Ozughalu, University of Nigeria, Nsukka
Fidelis O. Ogwumike, University of Ibadan, Ibadan

Keywords

Inclusive growth, Poverty, Inequality, Competitiveness, Nigeria

Abstract

This study shows that Nigeria has not experienced inclusive growth over the years, using relevant national and global data. The country has experienced pervasive poverty, high rate of unemployment and high level of income/wealth inequality despite impressive economic growth rates over the years. The study also highlights the major factors that could be responsible for the non-inclusive growth in Nigeria; these factors include poor performance of the manufacturing sector, weak knowledge base, poor human capacity development and low level of global competitiveness. The study uses tabular presentations and verbal constructs in its analysis. The government and policy makers in Nigeria should take urgent steps to make Nigeria highly globally competitive that will pave the way for inclusive growth in the country. Adequate effort should be make to tremendously reduce poverty, unemployment and income/wealth inequality in the country.

Author Bio

The authors are staff of the Department of Economics, Faculty of Social Sciences, University of Nigeria, Nsukka and University of Ibadan, Ibadan, Oyo State respectively.

Publication Title

CBN Bullion

Issue

Volume

Recommended Citation

Ozughalu, Uche M. and Ogwumike, Fidelis O. (2015) "Inclusive growth and poverty reduction in Nigeria," Bullion: Vol. 39: No. 4, Article 2.
Available at: https://dc.cbn.gov.ng/bullion/vol39/iss4/2

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