THE MILLENNIUM DEVELOPMENT GOALS AND THE ROLES OF THE NIGERIAN FINANCIAL SYSTEM: A CRITICAL ASSESSMENT

Adewale, Alawiye-Adams and Ibitoye, Olusola Anthony (2014) THE MILLENNIUM DEVELOPMENT GOALS AND THE ROLES OF THE NIGERIAN FINANCIAL SYSTEM: A CRITICAL ASSESSMENT. The International Journal For Financial Research. pp. 1-19.

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Abstract

The Millennium Development Goals is the most significant development agenda initiated by the United Nations Development Programme at the inception of the current decade. Under the agreement, 189 countries subscribed to participate in the initiatives. It was the most celebrated proposal targeted by the UNDP to trigger off specific action plans by all countries signing into the action plan to take pragmatic steps to fight underdevelopment in eight specific areas of human endeavour. Nigeria was among the first 189 countries that signed into the agreement. The most critical of the 8 – point MDG’s agenda is the challenge of ‘’Eradicating extreme poverty and hunger’’ which is the only area Nigeria has scored 50% success by UNDP assessment. The annual progress reports of the United Nations have shown that Nigeria has not recorded remarkable achievements in the remaining seven goals. This is not unconnected with the fact that the Nigerian financial system which is expected to provide funding for industrialization has not been forthcoming due to policy inconsistencies. This paper examines the expected role of the financial system in achieving the Millennium Development Goals and concludes that a well established and properly reformed financial sector is required to provide excellent financial services and access to sustainable credit for the poor but economically active citizens to reduce and eradicate hunger and poverty.

Item Type: Article
Uncontrolled Keywords: Millennium Development Goals, Financial System, Poverty Eradication, Industrialization, Microfinance, Economic Development.
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HG Finance
H Social Sciences > HJ Public Finance
Divisions: Faculty of Law, Arts and Social Sciences > School of Management
Depositing User: Mr Tayo Okunlola
Date Deposited: 11 Nov 2016 15:55
Last Modified: 11 Nov 2016 15:55
URI: http://eprints.abuad.edu.ng/id/eprint/1235

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