The Politics of Poverty and Economic Development in Nigeria
DOI:
https://doi.org/10.57125/FS.2024.12.20.06Keywords:
Economic Development, Electoral Corruption, Money Politics, Political Corruption, PovertyAbstract
This study on the Politics of Poverty and Economic Development in Nigeria examined the intricate relationship between money politics and economic development in Nigeria. The economic development variable used in the study was proxied by Real Gross Domestic Product (RGDP) and the politics of poverty variable was proxied by the poverty rate in Nigeria while other variables used in this study were government spending and population growth. The data used for this study was obtained from the World Development Indicator and CBN Statistical Bulletin (2022). Also, the period under review was from 1980 to 2022. The study adopted secondary and annual data for the empirical analysis using the autoregressive distributed lagged model for investigating the relationships among the variables. The findings revealed a negative relationship between poverty and economic development in Nigeria. Also, government spending has a negative and statistically significant impact on poverty in Nigeria. The study therefore proposed actionable recommendations such as strengthening political institutions, enforcing anti-corruption measures, and ensuring that economic policies are designed and implemented with a focus on poverty reduction and inclusive growth. These measures are essential for fostering transparency, accountability, and sustainable development in Nigeria's political and economic spheres.
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