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Economic Growth and Inequality in Nigeria: Magnitudes and Challenges

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  • AKPOILIH, Roland
  • FARAYIBI, Adesoji

Abstract

Economic growth is expected to lead to economic development and increase in the welfare of the masses. This is hoped to reduce the existing level of inequality. However, the most central problem in Nigeria economy today is that there is a sharp disconnect between the level of growth and development. What is rather obtainable is that there is growth without development because of the wide gap of inequality existing in the society. In this study we examine the phenomenon of growth-inequality nexus by employing trend analysis to examine the magnitude and the challenges of the prevailing inequality scenario in Nigeria. This paper therefore recommends good institutional framework and policy consistency to rectify the unwholesome situation of the high level of poverty and inequality prevailing in Nigeria.

Suggested Citation

  • AKPOILIH, Roland & FARAYIBI, Adesoji, 2012. "Economic Growth and Inequality in Nigeria: Magnitudes and Challenges," MPRA Paper 74156, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:74156
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    References listed on IDEAS

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    Cited by:

    1. Ademola Obafemi Young, 2019. "Growth Impacts of Income Inequality: Empirical Evidence From Nigeria," Research in World Economy, Research in World Economy, Sciedu Press, vol. 10(3), pages 226-262, December.
    2. Quoc Hoi Le & Hoai Nam Nguyen, 2019. "The Impact of Income Inequality on Economic Growth in Vietnam: An Empirical Analysis," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 9(5), pages 617-629, May.

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    More about this item

    Keywords

    Economic Growth; Inequality; Poverty; Nigeria; Magnitude;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy

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