Nigeria, with its prodigous oil and natural gas reserves, has the potential to be one of the most affluent places on the planet, were it not for the rampant corruption that defines it. Instead, it is the 20th poorest country in the world1. Much like the guanxi of China, Nigeria practices prebendalism—the use of high-level positions to gain personal wealth. In other words, people exchange money for political favors, which of course creates a greedy and corrupt society. The extent of this fraudulency is such that most of Nigeria's oil wealth is sucked up by one per cent of the population, while more than 60% falls below the poverty line. In fact, the United Nations Educational, Scientific, and Cultural Organization (UNESCO) has determined that 92% of Nigeria lives on less than one dollar a day2. Meanwhile, it is estimated that in the past 50 years, three to four hundred billion dollars have been stolen by government officials.
In rural Nigeria, up to 80% of the population (as compared to 70% of Nigeria as a whole3) live below the poverty line, despite their fast-growing agricultural economy4. According to Nigerian author Anthony Maduagwu, it is in places such as these where we can find the solution to Nigeria's economic predicament. In his article “Alleviating poverty in Nigeria”, he says, “only the poor understands poverty and it is also the poor that know how their poverty could be alleviated... the fact is that the poor usually have quite good perceptions of their own needs and goals and of what would be required to satisfy and make progress toward them”5. He made the case that while government-funded “poverty alleviating programmes” help poverty rates in one place, the create poverty in another6. This is supported b...
... middle of paper ...
...now, and God for the poor”21. This individualist belief is not an optimistic one. If anyone needs a voice, it is the poor, and the current government officials seem unlikely to be swayed by religion.
Works Cited
1.Christen, Robert Peck; Rosenberg, Richard & Jayadeva, Veena “Financial institutions with a double-bottom line: implications for the future of microfinance” (July 2004)
2.CIA World Factbook
3.Hauss Book
4.Junger, Sebastian “Blood for Oil” Vanity Fair (2007)
5.Kashi, Ed “Curse of the Black Gold” Powerhouse books © 2008
6.Maduagwu, Anthony “Alleviating Poverty in Nigeria” Africa Economic Analysis (2000)
7.“Microfinance” http://en.wikipedia.org/microfinance
8.“Rural poverty in Nigeria” http://www.ruralpovertyportal.org/web/guest/country/home/tags/nigeria
9.“UNESCO on Poverty in Nigeria.” http://allafrica.com/stories/201001280540.html
10.Wood Book
Poverty is not just an issue reserved for third world countries. Instead, poverty is a multifaceted issue that even the most developed nations must battle
According to Beaueboeuf-Laufontant, racialization can be defined as the placement of groups in particular statues within the matrix of domination is justified through the generation and dissemination of controlling images. As a result of overaching ‘’matrix of domination”, a few statuses are considered normative and deserving of first class citizenship while most others are deemed constitutive of deviance and requiring subordination. As representations of subordinated groups, controlling images guide behavior toward and from these persons, constrain what is seen and believed about them, and when internalized, profoundly influence the self-perceptions of the marginalized. Like stereotypes, controlling images are generalized representations about
Despite the numerous wealth generated on a daily basis from oil exportation over the years and the vast amount of untapped resources laying in commercial quantity, the country does not have a single or recognize means of directly addressing the welfare of its citizenry. Only the present democratic administration has promised to execute out a compulsory cash transfer of N5,000 to the poorest 25 million Nigeria (based on some conditions), pay graduating corp members some stipends for a year and design a one-meal a day for public primary school
The overriding challenge Uganda faces today is the curse of poverty. Poverty, ‘the lack of something”(“Poverty.”), something can be materials, knowledge, or anything one justifies as necessary to living. Associated with poverty is the question of what causes poverty and how to stop poverty? The poverty rate in Uganda has declined from the year 2002 from the year 2009, which shows the percent of residents living in poverty has decreasing. Yet, the year is 2014 and the poverty rate could have drastically changed over the course of five years. One could assume the poverty rate would continue to decrease, which would be astounding and beneficial, but does poverty ever decrease enough to an acceptable level or even nonexistence? Poverty is a complex issue that continues to puzzle people from all across the globe. Poverty could possible be a question that is never truly answered.
...rd but in the sense of Nigeria the corruption is amongst the elites and found at the highest level of federal power.
“Poverty at Large: A Dark Spot in Humanity.” Causes of Poverty, 25 March 2014. Web. 26
Poverty is one of the greatest problems facing South Africa. South African families live in very unsatisfactory conditions. The South African government works hard to bring down the rate of poverty but it also seems to increase as they try.
Growth in Africa is not enough for its people to grow, which is leading to poverty and hunger in Africa. Today Africa is one of the leading countries having poverty and economic problems. One half of the Africans live below the poverty line which leads to low human development in Africa. The main cause of poverty in Africa is a problem in its economic system and environmental factors. Because of poverty people of Africa remain hungry as they don’t have enough money to buy their food and their basic needs. Some of the African countries have less poverty rate than others due to good government and economic system in those countries. Most of the African is facing challenges to survive and keep their family healthy.
Many unsolved problems in many African countries, but the issue of the rise of corruption are disturbing, and the amends it has done to the polity are vast. The fear of fraud leads to restrict movement of documents in offices, slow traffic on the highways, port congestion, ghost workers syndrome, queues at passport offices, police extortion tollgates and gas stations, vote irregularities among others. Even the nutty people on the road remember the devastation caused by bribery - the funds allocated for their success disappear into some people pockets. Thus, some people believe corruption is the bane of many African countries. Corruption is the main obstacle to slow down, and knock African economy growing. The problem keeps happening in Africa, and the issue will hardly be solved.
Accra, the capital of the beautiful and welcoming nation Ghana, is located in West Africa, West Africa’s Gulf of Guinea. It is known for its wildlife, beauteous attractions, and richness in gold and secluded beaches. Ghana also known as the “Gold Coast,” gained their independence on March 6th 1957 from the British. The nation was led to independence by the first president Kwame Nkrumah, who altered the country to a republic. Ghana continues to grow each day as a nation, Though Ghana is growing each day they face many economic and social problems, such as poverty, health issues, education, corruption, and economic challenges.
As one of the biggest problems facing the world today, poverty continues to have significant negative implications for the society. The effects of poverty are extremely severe and far-reaching, so much so that it was one of the top Millennium Development Goals agreed upon at the Millennium Summit of the UN back in 2000 (Hatcher, 2016). To understand the effects that poverty has on the society, one must critically analyze the societies in which poverty is rampant, as well as analyze poverty from the relative perspectives that it presents. The core aim of this paper is to develop a holistic understanding of poverty and elaborate on the diverse ways in which it continues to affect societies across the world.
As developed countries quench their thirsts for petrol, developing countries around the world are left behind, force to watch on without any help from the outside community. Being poor means to be disadvantaged in every single way. It means not being able to support yourself or your family or have the basic necessity to life. Without substantial help for these helpless people then we should be feeling guilty that we are living lives far better than what others are experiencing. Poverty may because by wars, disease or lack of education and infrastructure and the resulting consequences may be hunger, starvation, crime and ultimately death. If poverty is not eradicated then injustice will continue, increasing death tolls and lives.
In conclusion, sometimes actions take place that changes a person’s outlook on life and as you can see poverty is one that can have a huge effect on not only one person, but also the people around him/ her.
Microfinance institutions as a body of delivering financial services to a previously ignored, excluded and disadvantaged population, who are also the poor, is expected to make changes in the lives of the poor. The poor, who lack access to funds to take advantage of the opportunities, should be able to generate income and accumulate assets as microfinance delivers the financial
An important term that is cropping up everywhere nowadays is “Microfinance”. It is important for every person interested in the field of finance to be aware of this term, as in the coming days Microfinance is expected to be one of the brightest and the most appealing sector of the Indian Economy.