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Abstract

This study examines the plight of the poor within the new democratic rule in Nigeria. Since the inception of democracy in 1999, there has been a sustained prosperity in terms of oil windfall that swells government's revenues on the order of over $30 billion annually. For the first time in over 20 years, the GDP growth rate is 7.5 percent. The nation has accumulated an impressive foreign exchange reserve of $60 billions. This reserve is the highest ever in sub-Saharan Africa. However, this financial outlay has not resulted in improved standard of living of the broad majority of the people. The circumstances of the poor, weak, vulnerable members of society, women, disabled, elderly, chronically mentally ill, widows, children, orphanages, retirees and those with loose attachment to the labor force have not improved. There are no new genuine and meaningful anti-poverty programs that declare war on poverty. The government's anti-poverty program christened as National Economic Empowerment and Development Strategy (NEED), which is supposed to be a panacea to all the ills of the society and consequently wipe out poverty only exists on paper. In the meantime, the ruling elite in the new democratic order cart away the oil windfall to foreign bank accounts and support their opulent lifestyles, while the masses continue in their misery.

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