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  • Essay / Impact of inequality in Nigeria - 1124

    This is because although the country is rich in land, natural and human resources, the population is still considered poor, since almost 70% of Nigerians in 1999 were living in poverty (FOS, 1999; Okojie et al 2000; World Bank 2000; Soludo, 2006), while the incidence of poverty remained relatively high, hovering around 54% between 2005 and 2009 (CBN, 2009) . In 2000, per capita income was still about the same level as in 1965 and in the meantime Nigeria's cumulative oil revenues (after deducting payments to foreign oil companies) stood at about $350 billion. at 1995 prices (Salai-Martin and Subramanian, 2003). Worse still, Nigeria's poverty problems are multifaceted, among them the widespread epidemic of the AIDS pandemic, lack of access to quality health facilities, lack of essential infrastructure, high mortality rate high childhood, unemployment and corruption, etc. Over the past few years, the Nigerian government has spent extremely large sums of money, both at the state, federal and local levels, in failed attempts to reduce poverty by developing and implementing several poverty resolution programs. of poverty. the burden of these programs has been