ECONOMIC DEVELOPMENT CHALLENGES
CONTENT
- Definition of Economic Development Challenges
- Poverty
- HIV/AIDS and the Economy
Definition of Economic Development Challenges
Economic development challenges refer to some problems or challenges which the economy is experiencing that tends to draw back the growth and development of the country. Example of such economic development challenges are poverty, debt burden and debt relief, HIV/AID eradication, power and energy supply, resource and corruption
Poverty
Poverty is an abstract word which can be associated with many things. It means a lack of material possessions belonging to a person. It is typically measured in monetary terms. It also equates to a lack of some of the most basic and important material goods such as shelter, clothing, gender equality, health facilities, education, jobs and increases in diseases and sickness.
Effects of Poverty
- High incidence of diseases
- Low standard of living
- Low level of productivity of the work force
- High incidence of social vices
- Inadequate level of education
- Frequent social crises
- Low life span
Agencies for Poverty Alleviation
Some agencies have been set up in order to eradicate poverty in Nigeria, some of them are: The National Poverty Eradication Programme (NAPEP), the National Poverty Eradication Council, the National Directorate of Employment (NDE), etc.
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