Unemployment, corruption, non-diversification of the economy, income inequality, laziness, and a poor education system can be considered to be some of the key factors contributing to poverty in Nigeria. Poverty is a multidimensional phenomenon. The World Bank summarizes poverty in three different dimensions as a lack of opportunity, lack of empowerment and a lack of security.
For the economically challenged, the window of opportunity remains closed to them, and this makes them practically inactive in the society. Their lack of empowerment limits their choices in almost everything and their lack of security makes them vulnerable to diseases, violence etc. Similarly, the United Nations describes Poverty as a denial of choices and opportunities, a violation of human dignity. It means lack of basic capacity to participate effectively in society. It means not having enough to feed and clothe a family, not having a school or clinic to go to; or a job to earn one’s living.
According to the World Bank, an individual or person who lives or earn below $1.9 per day is considered to be extremely poor.
On the basis of this the world bank asserted that Nigeria currently has the highest number of extreme poor individuals (thus overtaking India) following results from the World Poverty Clock which showed that 86.99 million Nigerians fell within the extreme poor category in 2017. Most importantly, it brought to bear the dire position of the nation’s social well-being, as its dependency ratio continues to grow. With the present population dynamic, 45.7% of the Nigerian population is considered to be extremely poor far higher than the sub Saharan average ratio of 30%.
Also, going by the global Multidimensional Poverty Index (MPI), a person is considered poor if they’re deprived in 3 main areas namely, Health, Education and Living standard.
On the basis of the above and to solve the poverty challenge we designed our programs in line with the vision to be a model provider of empowerment opportunities and creating wealth for the economically challenged through education in a bid to proffer sustainable solutions and lead lives out of poverty.
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