Description

Nigeria, the biggest economy in Africa, has a substantial repository of natural resources, such as oil and gas. However, despite having such resources and a young working population, the standards of living among the Nigerian people are concerning. This scholarly article delves into the root causes of Nigeria’s impoverishment and assesses how to eradicate such challenges. The eradication approaches predominantly rely on incentivising Nigeria’s natural resources in favour of the Nigerian people. The research further investigates the diversification of the Nigerian economy outside of oil and gas, considering the use of other resources such as gold, coal, iron, and agricultural products. Lastly, the research underscores appropriate recommendations that the Nigerian Government may deploy to ameliorate their living standards.

Keywords: Nigeria, Nigerian Poverty, Poverty Alleviation, Nigerian Natural Resources, Nigerian Education, Nigerian Corruption, Africa.