Has Financing Poverty Reduction Scheme Help to Alleviate Poverty? Evidence from Nigeria

Abstract

Various efforts both at recent and time past have been employed to curb the menace of poverty in Nigeria by various successive governments. The impacts of these efforts have been debated in various quarters. This paper examines the impact of various poverty alleviation schemes in Nigeria. We adopt the use of regression analysis to examine the effects and the relationship between poverty reduction schemes and income level, employment generation, food security and education attainment and found out that poverty reduction schemes have led to increase in the level of income, employment level, food security and increase in literacy level. It therefore suggests that holistic approach should be employed by both the public and private sectors through massive investment in agriculture so as to ensure food security, cottage industry establishment so as to increase employment level, education so as to increase the literacy level which will all lead to better opportunities for higher income in order to achieve meaningful poverty reduction in the country.