Exploring Socio-Economic and Demographic Determinants of Poverty in Nigeria, for Sustainable Solutions

Abstract

This study examines the socio-economic and demographic determinants of poverty in Nigeria, for sustainable solutions. By using data obtained from the Federal Reserve Economic Data (FRED) and the National Bureau of Statistics (NBS), the study employs the Ordinary Least Squares (OLS) regression technique to analyze the relationship between poverty rates and key explanatory variables such as unemployment rate, human development index (HDI), and population growth. The results reveal that human development has a significant negative effect on poverty, indicating that improvements in education, healthcare, and income levels lead to substantial reductions in poverty levels. Conversely, population growth exhibits a significant positive relationship with poverty, implying that rapid population expansion exacerbates economic hardship and resource scarcity. Although unemployment has a positive but statistically insignificant relationship with poverty, it still contributes to the socioeconomic challenges facing the nation. The findings highlight that sustainable poverty reduction in Nigeria depends on enhanced human capital development, effective population management, and improved social and economic policies. Therefore, the study recommends targeted interventions aimed at promoting inclusive growth, strengthening social welfare systems, and fostering equitable access to education and employment opportunities for long-term poverty alleviation.