Poverty reduction strategy updates : the case of Nigeria

Abstract

The country has experienced positive growth in the last four years. From a negative growth rate in 1999, positive growth had been recorded since 2000 and the growth rate was 10.23 per cent in 2003 and 6.09 per cent in 2004. The poverty level fell from 65.6 per cent in 1996 to about 57 per cent in 2005. Thus, growth has led to reduction in poverty level and reduction in inequality. As a result of the implementation of NEEDS, allocation to the social services, i.e., health and education, has improved while allocation to areas like defense has reduced. Secondly, agriculture has experienced a higher growth rate in recent time.