SOCIAL CAPITAL AND POVERTY REDUCTION IN BENUE STATE, NIGERIA: CROSS-COUNTRY INSIGHTS FROM SOUTH KOREA

Benue State comprises diverse communities, each facing unique socioeconomic challenges including poverty. This study examined the impact of social capital on poverty reduction in Benue State, Nigeria. A survey research design was adopted for the study. Primary data was collected from 6 Local Government Areas of Benue State. Legit binary regression analysis was used to estimate variables used in the study in relation to its effect on poverty reduction. All variables tested improved Benue state poverty except political party membership and involvement. The results revealed that cooperative society participation, social media involvement, rural group membership, and social club membership has the tendency to reduce poverty by 50% to 68% in Benue State. Overall, with an R-square value of 0.870, there is a strong positive linear relationship between the variables. Social capital may reduce poverty based on community trust, social connection, and socioeconomic context. Addressing inequalities and distributing incentives equitably is crucial to improving social capital.