Theories of Poverty and Rural Finance Policy in Nigeria (original) (raw)

2018, Jigawa Journal of Politics

This articule uses the combination of five theories of poverty: individual deficiency, cultural belief, socioeconomic , geographical disparity and developmental to explore rural finance in order to expand the frontiers of discourse on rural finance policy decision making process in Nigeria. A single economic policy cannot solve poverty problem but the use of multiple policies may provide the desired goal if properly implemented. It is recommended that socially integrated association which recognise clans and groups in the creation and financing of enterprises can be established to change the focus of the poor from their cultural poverty to a better future of generating additional income. Poverty emanating from geographical disparity requires a direct solution to the affected areas. The establishment of product processing zone in disadvantaged locations to enhance the quality delivery of their products and an improvement in their income is an option to grow the local area and improve the economic development of locations that lag behind in poverty.