Volume 12 Issue 1, January, 2024

Poverty Alleviation: Bridging The Gap Between Formal Education and Skill Acquisition

Kareem, Rafiu Adeshola

Abstract

Poverty alleviation is the economic and humanitarian effort to eradicate poverty in a country. According to the National Bureau of Statistics (2022), over 133 million Nigerians live in poverty. Given this alarming statistic, addressing poverty in Nigeria is of utmost importance due to the country's persistent challenges with severe poverty and income inequality. A significant contributor to this issue is the disparity between formal education and skill acquisition. Formal education provides knowledge and theoretical understanding, but often fails to equip individuals with the practical skills necessary for employment and income generation.This deficiency has led many to perceive formal education as less beneficial compared to skill acquisition, which can provide immediate financial rewards even during schooling. Consequently, this perception has undermined the importance of education among Nigerian youths. This paper investigates the crucial role of bridging the gap between formal education and skill acquisition in Nigeria as a strategy for poverty alleviation. This paper concludes that alleviating poverty in Nigeria necessitates a comprehensive approach, acknowledging the significance of both formal education and skill acquisition. By tackling the challenges each method presents and fostering collaboration between them, individuals can be endowed with the requisite knowledge, skills, and competencies to escape the cycle of poverty.

Keywords

Poverty Alleviation, Skill Acquisition, Formal Education, Income Inequality

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