Government Policies and Poverty Reduction: A Critical Analysis of Nigeria's Approach
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Abstract
The rate of poverty in Nigeria keeps rising despite the enormous human and natural resources. The gap between the country’s natural wealth and poverty is alarming. Nigeria is among the world’s poorest countries, with 93.7 million people living in extreme poverty, according to the World Poverty Clock. The Nigerian government has implemented various anti-poverty initiatives, but they have not improved the country’s Human Development Index. This research assesses government policy and the impact of poverty reduction strategies in Nigeria. It examines the achievements and challenges of poverty alleviation efforts in the country. This study employs a quantitative approach to investigate the relationship between government policies and poverty reduction in Nigeria. The research sample comprised 900 government officials involved in policy formulation and implementation. Using Yamane's formula, a sample size of 312 was determined. Data was collected through questionnaires and analyzed using SPSS. Regression analysis tested hypotheses regarding the influence of historical policies, current policy implementation, and regional variations on poverty reduction. Findings indicate a significant positive relationship between historical policies and current poverty levels (p < 0.001), suggesting past policies influenced present poverty. Current policy implementation also showed a significant positive impact on poverty alleviation (p < 0.001), indicating improvements in poverty reduction efforts. Regional variations significantly impact poverty reduction outcomes (p < 0.001), highlighting the need for tailored approaches to address diverse regional challenges. These findings underscore the importance of informed policymaking and targeted interventions to effectively reduce poverty across Nigeria. Addressing historical legacies, improving policy implementation, and accounting for regional disparities are vital for enhancing poverty alleviation efforts and fostering equitable development. Based on these findings, recommendations are proposed to enhance poverty reduction initiatives in Nigeria. These include revising and updating past policies, strengthening implementation and monitoring mechanisms, addressing regional disparities, promoting collaboration among stakeholders, investing in infrastructure and human capital, promoting transparency and accountability, prioritizing job creation, and improving the ease of doing business.
Keywords: Poverty, Government Policies, Poverty Reduction, Human Development Index
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ISRGJEBM2252024.pdf
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