What needs to be done to alleviate poverty in Nigeria?

Use innovative methods to tackle unemployment and poverty

restructure sources of Nigeria’s GDP to include variety of labor intensive industries.

Make land available to private and public organizations in most economically depressed areas/ provide training in setting up industries to unskilled Nigerians

encourage business/govt entities to locate industries that are labor intensive in rural areas of Nigeria by using incentives

develop a variety of industries to diversify the country’s sources of revenue. and utilize abundant labor supply... this will reduce the reliance of Nigerians on oil revenue handouts.. this reliance fosters a culture of dependence on govt and institutionalizes poverty which in turn alienates poor people --> I think the first part of diversifying sources of revenue is good. But I want to investigate the later part.

“Alleviating Poverty in Nigeria”

1993: Family Support Programme and Family Economic Advancement Programme were set up. FSP took over 10 billion of tax payers money when Abacha, the founder, was retrenching hapless civil servants

Essentials of Poverty Alleviation

Need to stabilize the country politically and economically in order to increase foreign investments... the government doesn’t currently make its economic policy clear

Increase vocational education

“What can Businesses do?”

Businesses need to be pro poor business. Instead of depending on occasional handouts they should develop businesses in un-developed areas, such as Nigeria.

This approach benefits both the business and the people

It does require creativity to develop business ventures that can thrive in poor areas

Cell Communication Limited had initiative in Nigeria

Micro Finance

Utilize Microfinance, like India, to improve economy

Nigeria is faced with some other challenges in delivering efficient micro financing services. These are: policy environment, inadequate financial infrastructure, limited retail level of institutional capacity, inadequate investments in agriculture and rural development, inadequate investments in social intermediation.

Steps to End Poverty

Global Poverty Brochure_steps to end poverty.rtf

West Africa Research

Yale Center on Poverty

The center’s programs have several issues it considers “key.”

Global governance for peace and security

One of the motivators of globalization is peace and security. The center believe that if globalization were to continue in an atmosphere of violence it would undermine or reverse globalization. The center supports idea generation to generate ideas to increase global collaboration

Foreign policy role of key international players

Key policy makers (such as US and Europe) continue to affect the landscpe for globalization and the Center will work to understand internal and external factors that affect the foreign policy of these players

Global economic governance

The current rule based framework was designed for a world 50 years ago. It doensn’t address the issues of globalization and the Center aims to understand the gpas and create rules for governance that address current issues and dictate who does what etc.

International cooperation for development

Center wants to address the amount of aid needed and where it will come from. Look at mechanisms that transfer aid from the institution to the humanitarian cause

Strengthening the multilateral trading system

Want to insure the Doha Round succeeds at WTO. Further a rules-based multilateral trading system. Increase multilateral trading has large economic benefits to developed and underdeveloped countries

Protecting shared environmental resources

Seeks to address the problem of the “commons.” (such as pollution spillover and over fishing) One country alone cannot address these issues. It will require cooperation and the Center seeks to facilitate that cooperation

Global health issues

Risk of rapid spread of communicable diseases is downside to globalization. Center seeks to address ways to reduce this risk

Key factors for inclusion in globalization

ID policy dependent factors that enable countries to engage in the global market in order to facilitate other’s participation

Extracting lessons from national or regional experiences

Study failed and successful globalizers in order to extract relevant policy conclusions (seems to fit closely with previous criteria)

There are numerous papers and documents linked to the website that I did not summarize because there is just too much information there. This is the important stuff in regards to how Yale views globalization and the main issues that have to be addressed! Also, sorry this was late. I thought I had gotten it right the first time. Happy reading. :)