An exploratory study of local social innovation initiatives for sustainable poverty reduction in Nigeria

Olubunmi Ipinnaiye and Femi Olaniyan

Sustainable Development, 2023, vol. 31, issue 4, 2222-2239

Abstract: The eradication of extreme poverty remains an intractable global challenge. This paper explores social innovation (SI) as a strategy for fostering sustainable poverty reduction in a developing country, Nigeria. Analysis is based on semi‐structured interviews with founders of SI initiatives. Findings indicate SI as a sustainable poverty reduction strategy because it addresses: (i) some underlying causes of poverty such as poor nutrition and lack of access to education; (ii) different dimensions of sustainability (i.e., economic, social and environmental). The study also identifies socially innovative cultural practices such as traditional rotational saving/credit and apprenticeship schemes which help eradicate poverty by ensuring improved access to finance and encouraging entrepreneurship. Furthermore, results indicate local SI initiatives in Nigeria are largely private sector‐led, while a weak institutional environment hampers expansion. The study highlights the need for policy aimed at identifying, strengthening and scaling up innovative local practices, and creating favourable framework conditions for SI.

Date: 2023
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https://doi.org/10.1002/sd.2502

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Persistent link: https://EconPapers.repec.org/RePEc:wly:sustdv:v:31:y:2023:i:4:p:2222-2239

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