An overview of world poverty and purchasing power parity: the Nigerian Gum Arabic marketers experience

Abstract

Poverty though has diverse conceptuality, but the general consensus is that it is a living condition in which a person or group of persons are unable to satisfy their most basic requirements for survival in terms of nutrition, shelter, clothing, health, transport, education and recreation. Poverty is believed to have negative impact on both physical and spiritual status of its victims as it deters its victims from observing many spiritual and social activities. There are many ways of measuring poverty; however the authors based their measurement international definition of poverty which says that any condition that makes one to live on less than U.S $1.00 per day is poor. Nigeria with a population of about 170 million has more than 70% wallows in abject poverty despite the fact that it has the largest Gross Domestic Product (GDP) in the continent, Africa. The study thus examined gum arabic marketing as one possible way for poverty alleviation in Northern Nigeria. A reviewed of poverty trend, the effects of gum arabic marketing on the income status on respondents and government programmes in tackling the menaces in Nigeria were focused. The recommendations were that the small and medium enterprises (SME), and the mandates of Bank of Industries should be empowered enough to encourage Nigerians to venture into exploitations of all natural resources in the country including gum Arabic in order to alleviate the poverty situation ravaging the country.