Poverty in a Wealthy Economy: The Case of Nigeria

37 Pages Posted: 1 Feb 2006

See all articles by Saji Thomas

Saji Thomas

International Monetary Fund (IMF)

Sudharshan Canagarajah

Europe and Central Asia Region; World Bank - Poverty Reduction and Economic Management (PREM)

Multiple version iconThere are 2 versions of this paper

Date Written: July 2002

Abstract

This paper describes the nature and evolution of poverty in Nigeria between 1985 and 1992. It highlights the potential wealth of the Nigerian economy and examines how the economic policies pursued in the 1980s and 1990s impacted economic growth and welfare. The headcount measure of poverty in Nigeria declined from 43 percent to 34 percent between 1985 and 1992. Decomposing the factors causing the reduction in poverty shows that the overall decline of 9 percentage point was the net result of a 14 percentage point decline owing to the growth factor and a 5 percentage point increase owing to the income distribution factor. The paper proposes that promoting broad-based growth and targeted interventions in health, education, and infrastructure need to be central strategies in the fight against poverty in Nigeria.

Keywords: Economic growth, Poverty, Income distribution, Targeting, Nigeria

JEL Classification: I32, O15, O40

Suggested Citation

Thomas, Saji and Canagarajah, R. Sudharshan, Poverty in a Wealthy Economy: The Case of Nigeria (July 2002). IMF Working Paper No. 02/114, Available at SSRN: https://ssrn.com/abstract=879854

Saji Thomas (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

R. Sudharshan Canagarajah

Europe and Central Asia Region ( email )

1818 H Street, NW
Washington, DC 20433
United States
202 473 4458 (Phone)
202 614 0912 (Fax)

World Bank - Poverty Reduction and Economic Management (PREM) ( email )

Washington, DC 20433
United States

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