ECONOMIC GROWTH INEQUALITY AND POVERTY IN NIGERIA
CHAPTER ONE: INTRODUCTION

1:1 BACKGROUND TO THE STUDY

The growth pattern of the Nigerian economy has been quite sluggish over the last two decades. This fact is however connected to the highly increasing level of poverty, which is further exacerbated by the pandemic problem of inequality.

According to the UNDP Millennium Human Development Report (2001), “Nigerian economy has been suffering from severe and persistent regression since the mid-1980’s. Its GDP, which was US $93.3bn in 1980 is now currently about one-quarter of what it was a quarter of century ago.” The movement backward has been so fast, that Nigeria, which was ranked 20th in terms of size of its GDP currently ranked 57th.

Moreover, associated with this serious economic retrogression in terms of GDP, is the deepening level of poverty in the country. For example, according to NHDR (1998), it was estimated that 48.5 percent of the country’s total......

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Title: Economic Growth Inequality And Poverty In Nigeria
Approximate Word Count: 14124
Approximate Pages: 57 (250 words per double-spaced page)

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