Poverty and Asset Ownership in Rural Nigeria

Adeoye A, S. A. Amao, M. O Olojede, A. A Oyeleye and C. O Farayola
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Adeoye A: Oyo State College of Agriculture and Technology, Igboora
S. A. Amao: Oyo State College of Agriculture and Technology, Igboora
M. O Olojede: Oyo State College of Agriculture and Technology, Igboora
A. A Oyeleye: Oyo State College of Agriculture and Technology, Igboora
C. O Farayola: Agricultural and Rural Management Training Institute Ilorin (ARMTI)

International Journal of Research and Innovation in Social Science, 2023, vol. 7, issue 7, 1021-1030

Abstract: This study examined the effect of asset possession on poverty reduction among female headed household (FHH) in rural Nigeria, using the 2013 GHS data. Descriptive statistics, principal component analysis, Foster, Greer and Thorbeke and Ordered Probit models at α0.05 were used to analyse 424 FHH. Majority (80.7%) of the FHH were widows. Age and household size were 58±13.7 years and 6±3.4 persons per household, respectively, while 57.8% did not have formal education. Asset possession index of the FHH was low. Poverty line was N20, 172.4 per annum and the mean per capita expenditure was N30, 258.6. Sixty-one percent of the FHH were core-poor, 17.5% were moderately poor and 21.9% were non-poor. Poverty incidence, depth and severity increased as household size increased and decreased with the level of education of the households. Aggregate asset ownersip, educational level and membership of a cooperative society were the major poverty-reducing variables among the FHH in rural Nigeria. The study recommends that FHH should be encouraged to possess more assets. Owning assets will not only provide economic growth and income but a very critical determinant of poverty reduction

Date: 2023
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