MINISTER of Science and Technology, Dr Ogbonnaya Onu, has said that the ministry will deploy science, technology and innovation to actualise President Muhammadu Buhari's promise of freeing 100 million Nigerians from poverty trap
He said that this can help us stand on our feet and lift the people out of poverty trap
, saying that they can also improve the future of our children.
This can help us stand on our feet and lift the people out of poverty trap
. We can also improve the future of our children.
Consequently they fall in the poverty trap
- meaning that they step back from lower middle class to upper lower class.
The poverty trap
is a situation where the poor do not have access to capital be it education, healthcare, job opportunities or credit to escape poverty, and the cycle extends to future generations.
Consequently, they fall in the poverty trap
- meaning that they demote to lower middle class from upper middle and middle class.
Otherwise, the constantly increasing costs of living will let the poor stuck in the absolute poverty trap
for the next many decades.
Investigating the full range of phenomena that combine to generate poverty traps--gleaned from behavioral, health, and resource economics as well as the sociology, psychology, and environmental literatures--this volume presents new evidence that highlights both the insights and the limits of a poverty trap
Imran Niazi and company should stop its drama and help people to come out of this poverty trap
"With further price increases coming into effect during these summer months, I shudder to think of the effect on those already in the poverty trap
But it is also the case that an increasing number of people with jobs are falling into the poverty trap
because wages have remained static while prices rise.
First, the probability of a low-income country's remaining that way is a very high 94 percent after 10 years, a still very high 90 percent after 20 years, and a continuingly high 80 percent after 30-61 years--ergo the name "poverty trap
." Similarly, the probability of a middle-income country's remaining that way is a very high 89 percent after 10 years, a quite high 79 percent after 20 years, and a still relatively high 64 percent after 30-61 years--ergo the name "middle-income trap." (Worse, the middle-income percentages include a regression to a poverty trap
for 9 percent of the countries after 10 years, 14 percent after 20 years, and 17 percent after 30-61 years.)