By Professor Abdulkarim Garba.
With the country’s inflation rate put at 31.70 percent amidst unemployment, food crisis, low earnings, worsening by population explosion, the level of poverty can best be imagined.
Successive governments had developed series of policies fram work and measures to check the growing cause effects of poverty in Nigeria.
Such measures unfortunately devoid all known solution. In this easy, Professor Abdulkarim Garba, of Bayero University, Kano dissected the concept of poverty and how to check the ugly monster.
Concept of Poverty:
Poverty is a complex and multifaceted issue that affects millions of people around the world, particularly in developing nations. It is a condition characterized by the lack of resources, opportunities, and access to basic necessities such as food, shelter, education and healthcare.
Poverty can manifest in various forms and impact individuals, families, and communities in different ways. In this learning series, an attempt will be made to explore the concept of poverty, its types, causes and suggest potential remedies with a special focus on developing nations.
Types of Poverty:
There are several types of poverty, each with its own unique characteristics and challenges. Absolute poverty refers to a severe deprivation of basic human needs, such as food, clean water, clean cooking fuel, access to health care, adequate sanitation and good shelter.
This type of poverty is usually prevalent in developing nations where large segments of the population struggle to meet their most basic needs. Relative poverty, on the other hand, can be defined in relation to the standards of living within a particular society.
It occurs when individuals or families lack the resources to participate fully in the activities and opportunities available to others in their community.
Other types of poverty include rural poverty, urban poverty, and generational poverty. Rural poverty is prevalent in agricultural areas where access to resources and economic opportunities is limited.
Urban poverty, on the other hand, is often associated with overcrowded and underdeveloped urban areas, where access to basic services and employment opportunities may be scarce.
Generational poverty refers to a cycle of poverty that is passed down from one generation to the next, perpetuating a lack of access to education, healthcare, and economic opportunities.
Causes of Poverty:
The causes of poverty in developing nations are numerous and interconnected. Economic factors such as low wages, unemployment, and underemployment contribute to the inability of individuals and families in developing nations to meet their basic needs.
Limited access to education and healthcare further exacerbates the cycle of poverty, as individuals are unable to acquire the skills and knowledge necessary to improve their economic prospects and overall well-being.
Social and political factors also play a significant role in perpetuating poverty. Discrimination, social exclusion, and lack of access to resources and opportunities based on gender, ethnicity, or other factors can further marginalize vulnerable populations.
Additionally, political instability, corruption, and inadequate governance can hinder economic development and exacerbate poverty in developing nations.
Remedies for Poverty:
Addressing poverty in developing nations requires a multifaceted approach that may addresses the root causes and provides sustainable solutions.
Investment in education and healthcare is crucial for breaking the cycle of poverty, as it empowers individuals to improve their economic prospects and overall well-being. Access to quality education can provide individuals with the skills and knowledge necessary to secure employment and contribute to economic growth.
Furthermore, creating economic opportunities through job creation, entrepreneurship, and investment in infrastructure can help lift communities out of poverty. Microfinance initiatives and support for small-scale enterprises can empower individuals to generate income and improve their living standards.
Additionally, social protection programs, such as cash transfers and food assistance, can provide a safety net for vulnerable populations and help alleviate the immediate impacts of poverty.
Policy Making:
Effective policy making is essential for addressing poverty in developing nations. Policies that promote inclusive economic growth, social protection, and access to basic services are critical for reducing poverty and promoting sustainable development.
Moreso, policies that can address social and political factors, such as discrimination and governance issues, are necessary for creating an enabling environment for poverty reduction.
Conclusively, poverty in developing nations is a complex and pervasive issue that requires comprehensive solutions. By understanding the different types and causes of poverty, and implementing targeted remedies, policymakers can work towards creating a more equitable and prosperous future for all.
Effective policy making, informed by research and evidence-based practices, is essential for addressing poverty and promoting sustainable development in developing nations.
Prof. Abdulkarim Garba write from
Department of Banking and Finance
Faculty of Management Sciences
Bayero University, Kano
PMB 3011
Email: agarba.bf@buk.edu.ng