INTERNATIONAL DAY FOR THE ERADICATION OF POVERTY

Poverty is a static, self-perpetuating, socio economic phenomenon that has eaten deeply into the fibers of societies, especially notable in developing and under developing nations. It derogatory effects have raised great concerns over the years. From hunger, starvation, youth restiveness, corruption, high mortality rate, underdevelopment, homelessness, criminal victimization, armed robbery, financial uncertainty, joblessness and unemployment, depression and much more.

Its complexity and ambiguousness makes it much more difficult to adequately comprehend the subject matter and provide implementable solutions.

It is estimated that a little over 10% of the world’s population lives on less than $1.90 (826.50 naira) a day (“A Look at Poverty in the World” Compassion International, 2022 p5). This goes without a saying to prove how much poverty has plagued the world.

CONCEPTUALIZING POVERTY

Poverty has been variously defined by different Scholars. Due to its wide scope and complex structure, its definition vary. It has been characterized by Scholars into three main types; absolute, relative and social exclusion. However, the definition given by the United Nations gives a much clearer spectrum. Poverty according to the United Nations (UN) is a condition characterized by severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, education and information.
Hence, poverty is a state of general lack.

WHY DOES POVERTY ABOUND?

Poverty and its adverse effects are still glaringly obvious despite the formulation and implementation of policies towards its eradication. This is due to a number of factors that mitigate it. These factors are listed and explained below.

Corruption
This criminal offense can be seen in every strata of the society. In Nigeria for instance, since its inception, corruption of Government Officials has been a root cause of poverty. From misappropriation, embezzlement, siphoning, mismanagement of funds to favoritism and nepotism, Nigerian government officials once inaugurated into public offices engage in these practices.

Agencies for the Monitoring and Implementation of Government Policies:
Truth is, there has always been a lacuna between policies, budgeting and implementation. Without appropriately implementing policies garnered towards the eradication of policies, poverty will continue to abound. These lack of functioning agencies have only furthered and led to the growth of poverty in Nigeria.

Lack of Healthcare Facilities and Practitioners:
It’s no news that a good number of health care practitioners from Nigeria have eloped to foreign countries for greener pastures. The current ratio of Nurses, Midwives and Doctors to patient is 1.95 to 1000. The lack of health care facilities is a growing concern in most developing and underdeveloped nations. Hospitals with needed facilities put such exorbitant prices not accessible by the masses. To alleviate poverty, we must take advantage of the demographic dividends to increase working population, health and well-being of the youths. Increased health care investment leads to economic growth. The country India is a very noticeable example.

Poor Education:
Poverty thrives where there is illiteracy. Poor education over the years have raised alarm in the country. A good number of the educated ones cannot defend their certificates. This has gone to prove how much the educational system is in total shambles and chaos. In order to reduce poverty, we must invest in quality education as a strategy to eliminate poverty.

RECOMMENDATIONS

In order to reduce poverty, a number of recommendations have been made. There include;
-Government should create functioning agencies for the execution and implementation of their policies.

-A call for the fight against corruption at all levels. Penalties for this deeply rooted phenomenon should also be implemented.

-Government and elites should invest in education, skill development and acquisition. This increases opportunities for growth, produces entrepreneurs yielding towards economic and intergenerational benefit.

-Redistribution of wealth.

-Creation of job opportunities to reduce youth restiveness

-Re-orientation of Officials about corruption and its adverse effects

-Investing into the country. The truth is, you get to hear a good of Nigerians in diaspora not willing to invest in the country, calling it a failed state. This will help reduce poverty rate, eradicate unemployment, armed robbery, hunger and starvation.

There are a number of investment opportunities in the country. There include; land banking, housing projects, businesses, infrastructures and so much more.

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