Fragile Nigeria Economy and the Risen Poverty among Rural and Urban Men and Women in the Society

Abstract

Nigeria is well-endowed with natural resources but the fragility of the economy and risen poverty resulting from unemployment, mono-economy, insecurity; decadence infrastructural facilities, bad leadership and policy somersaulting are the major breakdown in the development of the country. Despite Government development strategies and initiatives, the economy keeps dwindling and poverty becomes inescapable for both rural and urban men and women in the society. As more than 80 million of Nigerians that is 64% of the total populations are living in poverty. The study used secondary data to investigate the risen wave of poverty and unstable economy with a view to finding the lasting solution to the demagogue. The paper reveals that the vast economic resources of Nigeria do not translate to development in Nigeria because of the over-dependency on foreign direct aids, corruption, policy somersaulting, lack of political and economic ideology and unemployment. Through this, the paper established a relationship between the uneven development in the society and fragile Nigeria economy as well as a lag between the rural and urban development among men and women. The paper recommended that, there is drastically need for diversification of the Nigeria economy, needs for improved technology and there is need for government investment in the infrastructural development of the country to provide for an enabling environment where business can thrive.