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And closer to home, Nigeria has one of the world's highest economic growth rates, averaging 7.4% (according to the Nigeria economic report released in July 2014 by the World Bank) but over 80 million Nigerians - 42.4% of the population - currently live below the poverty line, according to the UN.Īnd apparently it can get worse. In a research work titled 'Nigeria Is Set To Become The Poverty Capital Of The World By 2018', Olanrewaju Eweniyi discovered that at least 50% of of the world - over three billion people - live on less than $2.50 (N900) a day. Galbraith (1968), also diagnosed poverty as having limited and insufficient food and clothing people living in crowded, cold and dirty shelters, and people living painful and comparatively brief lives.

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Prado and Tobi (1994) observed that poverty is a multi-dimensional phenomenon with few commonly agreed definitions across the characteristics of the poor (particularly the urban poor) such as excessive labour flow, undifferentiated/unskilled persons who cannot readily be integrated into the production system, sub-culture of personalized ethical code in contrast to the norm of kindred or community behavior, scarcity of essential commodities (food, housing, clothing), growth of slums, unemployment and under-unemployment, and crimes or deviant behaviors. In similar vein, Olamejeye (1994) defined poverty as the degree of difficulty encountered in making ends meet. Townsend (1962) defines poverty as the lack of material resources of certain duration and to such an extent that participation in normal activities and possession of amenities and living conditions become impossible or very limited. When people are excluded within a society, when they are not well educated and when they have a higher incidence of illness, there are negative consequences for society. Those people who are barely able to pay for food and shelter simply can’t consider these other expenses. In addition to lack of money, poverty is about not being able to participate in recreational activities not being able to send children on a day trip with their schoolmates or to a birthday party not being able to pay for medications for an illness. So poverty is a call to action - for the poor and the wealthy alike - a call to change the world so that many more may have enough to eat, adequate shelter, access to education and health, protection from violence, and a voice in what happens in their communities.” Most often, poverty is a situation people want to escape. Poverty has many faces, changing from place to place and across time, and has been described in many ways. Poverty is not having a job, is fear for the future, living one day at a time.

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Poverty is not having access to school and not knowing how to read. Poverty is being sick and not being able to see a doctor. The World Bank Organization describes poverty in this way: However, poverty is more, much more than just not having enough money.

Poverty is about not having enough money to meet basic needs including food, clothing and shelter. Living in poverty affects health, nutrition, and educational and employment prospects.Īccording to Investopedia, Poverty is a state or condition in which a person or community lacks the financial resources and essentials to enjoy a minimum standard of life and well-being that's considered acceptable in society. As a result, being poor or simply living in a poor neighborhood has a negative effect that goes beyond lack of economic resources. Worldwide, the urban poor have extremely limited access to essential services such as water, sanitation, electricity, and healthcare. The world continues to urbanise – and most of the growth in the world's population is in urban areas in low- and middle-income countries.

Most of the world's economy and more than half its population are now in urban areas. We are living in what is often described as the 'urban century'. URBAN POVERTY: A STUDY OF ISALE OJA COMMUNITY IN AGEGE LGA, LAGOS