June 18, 2013

Achieving Inclusive Growth Through Pro-poor Spending

The
paper examines if the nature of the economic growth in Nigeria is inclusive
(Pro-poor) or exclusive (pro-rich) and recommends ways to achieve inclusive
growth with emphasis on Pro-poor spending.

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Author:Ibrahim A. Tajudeen

Publication Date: December, 2011

Document Size:18pages


Objectives

  • This study aims to achieve the following objectives;
  • Determine whether Nigeria is experiencing economic growth.
  • Determine the nature of the growth in Nigeria inclusive (Pro-poor) or exclusive (pro-rich)?
  • Recommend ways to achieve inclusive growth or to sustain existing inclusive growth emphasize Pro-poor spending.

Concepts

Inclusive Growth

    • growth that enables the poor to actively participate in and significantly benefit from economic activities.
    • growth that reduces the level of poverty by providing everyone the minimum basic capabilities
    • Labour absorbing, mitigate inequalities, facilitate income and employment generation for the poor, particularly women (ADB,1999)

Pro Poor Spending

    • reduces the level of poverty, inequality and empowers females.
    • focuses on the development of key social and




Related

 

Nigeria Economic Update (Issue 18)

Inflation rate continued its upward trajectory in the week under review. Specifically, the Consumer Price Index (CPI) increased by 1.39 per cent, from 11.38 per cent in February to 12.77 per cent in March, 20161. Remarkably, this is the highest rate since July 2012, representing a 4-year high. While both components of the CPI rose in the period, the food sub-index was largely the main driver of the increase in the CPI, with a growth rate of 1.39 per cent between February and March. The persistent scarcity in petroleum products, especially Premium Motor Spirit (PMS), has increased transportation costs and the price of food items.

Nigeria Economic Update (Issue 3)

Provisional Monetary statistics by the CBN show an increase in currency in circulation a portion of overall money supply. Specifically, currency in circulation rose (Month-on-Month) by 14.2 percent to N2.2 million in December 2016  the highest Month-on-Month increase recorded for the year 2016. The rise in currency- outside-bank may be attributed to the growing demand for cash balances for spending activities during the festive period. This development would largely compound the liquidity problem associated with TSA implementation and ongoing CBN monetary tightening as deposit money banks might be cash-strapped. Going forward, efforts should be geared towards intensifying initiatives that promote a cashless economy that encourages cashless transactions.