Why Poverty Mentality Matter for Achieving the First Sustainable Development Goals (SDGS) in Nigeria

Abstract

Over the years, the global effort to reduce multidimensional poverty has intensified, especially in low-income countries like Nigeria. Yet, poverty indices are increasing, with more people feeling persistently economically poor. This feeling is because poverty mentality might be closely linked with consumption, income and wealth. However, policymakers unconsciously often time overlook the harmful implication of poverty mentality when initiating economic poverty alleviation programmes. From observation, this poverty mentality of the beneficiaries of poverty alleviation programmes in Nigeria makes them engage in deadweight spending. Thus, this study recommended a New International Poverty Order (NIPO) by dealing with economic poverty alongside its mentality through value reorientation and investment education before promoting economic well-being.