THE MAIN FACTOR OF POVERTY IN NIGERIA

There are two most important factors that have contributed to increase poverty in the Nigerian society are: 

1. Inadequate Power Supply

2. Bad Leadership/governance

Of cause there are other factors as well but the two aforementioned once contribute at least 80% to poverty in this country Nigeria.

INADEQUATE POWER SUPPLY

Power supply has degenerating from what was supplied in the 70s or mid 80s to next to nothing today. The direct result of inadequate/no power supply is abject poverty in the sense that because of lack of power, Nigerian Cottage industries that should have been responsible for gainfully engaged our young men and women who are willing to work have closed down and the reason for there decline is due 80 per cent electricity related.  The cost of running and maintaining a generator for business is suicidal in the present Nigerian Economy.  Cottage industry is the backbone of Small scale industry that would have catered for 20% of employment issues thus reducing poverty.  The Nigerian Governments are in the position to create policies that would improve power generation and distribution which is attributed to the increasing level of poverty and de-industrialization because of the failure of the sector.

Governments must improve on power sufficiency which would in turn help to sustain and maintain economic growth in Nigeria.  Unfortunately, bad governance will not allow our governments to find a lasting solution to the problems surrounding power generation. Serious political will is lacking. Corruption and greed within our political class has further degenerate the power sector.  The idea of deregulation of the power sector is not enough, but proper implementation of the deregulation process so that it does not fall into the wrong hands.  Investors, who have interests and good records on management of Power generation/distribution facilities and not to anybody because he/she has the money to pay for such facilities.  But again it will take extra political will for any government of Nigeria to formulate policies that will effect sufficient power generation/distribution. it is time our political class realize that it makes more political sense to resuscitate the power generation/distribution to its citizens rather than the opposites, where they in turn provide mere transformers during electioneering periods to give temporary power to the electorates.

BAD LEADERSHIP/GOVERNANCE

It is a know fact that, out of the 51 years of governance in Nigeria, the Northern Political class have had the longest share, about 36 years, of the country’s political governance and yet the poverty level of the northern region is alarming and by its sheer size, weight, natural endowments and seeming shrewd brand of politics, it had dominated the rest of Nigeria. The North alone has the agricultural capacity to feed whole of Nigeria and West Africa.  But, just like other parts of Nigeria, the North lacks visionary leadership thus the inherent prospects for the region, are yet to be unlocked and utilized fully.  The leaders do not have the interest of their people at heart.  Rather, political patronage has become almost the main source of wealth to the prominent players.  These has affected the whole of Nigeria. Likewise, the South cannot be exonerated from contributing to the level of the increase of poverty.  Political patronage has also played a major part in these regions with mouth watering contracts going to political sympathizers rather than those who are really qualified for such contracts thus cause a dilapidation of basic infrastructure that should help in providing basic utilities such and water, good roads and electricity, that should aid in creation of wealth.  Like the North, the south is endowed with Political leaders who have mismanaged the resources of the south.  Oil, precious mineral resources, agriculture are but a few including  the availability of a massive work force/strength of able bodied, intellectual youth that would rival china, if industries were a exciting attribute in Nigeria for the work force available.

The socio-political umbrella platform for articulation of various ethnic interests in Nigeria all lack vision because of self centered interest and corruptions within the rank of such organizations.  Groups like Arewa Consultative Forum, Afenifere, OPC, Egesu, Federation of Middle Belt People and even the Niger Delta organizations have failed woefully thus the situation have translated to extreme human underdevelopment and omnipresent poverty and even an increase on the level of violence unleashed by some of these groups and the dreaded Boko Haram, in themselves, a ticking time bomb which needs to be diffused.

There are strong correlations between poverty, security and politics.  The subsisting Nigerian poverty clearly has a major link with its politics thus translating into security. Most index of measuring human development will register alarming negative ratings when applied to Nigeria. Much of the Nigerian landscape is a human survey livid with poverty and multi-ethnic crises.

Our leaders must be made to realize that for Nigeria to become a world leader instead of a mere spectator, every part of the country must be developed simultaneously in accordance with the resources accruing to such area.  Poverty is unacceptable in Nigeria, but a high and persisting level of poverty in Nigeria exist and presently, the poverty level of Nigerian is around 70 per cent. If this is not corrected, then the saying that a hungry man is an angry man will become an everyday experience for our Political class and governments in Nigeria because there is a general conspiracy theory that the Nigerian Political class wants to subjugate its own people. Then they will have to start to worry about the Arab Spring type of situation here in Nigeria as echoed by a former President.

In conclusion and from happenings so far, it is clear the two major factors discussed are responsible for poverty and its increase in Nigerian. Inadequate power supply and Bad leadership/governance and the unfolding solution on the way forward are unlikely to die out anytime soon but remember that “man is adequate cause of his own destiny.” Epictetus and those leaders who failed to respond to their changing world will have less influence in it when it rebels.