Assessing Inclusive Growth in Nigeria: An Application of the Social Opportunity Function

Abstract:

Inclusive growth, pro-poor growth and broad-based growth are all terms used to explain growth processes that enable the entire population including the poor to actively participate and benefit from the economic growth process. In recent times, Nigeria’s GDP has been low, this is occasioned by slow growth, recession and the covid-19 pandemic. GDP growth rate had averaged 0.82% in the last decade and reached an all-time low of -14.66% in the first quarter of 2022. This study investigates inclusive growth in Nigeria using the social opportunity function. The social opportunity methodology is used to determine whether inclusive growth has been achieved overtime using education, health and employment sectors of the economy. The objective of this study is to assess inclusive growth performance in Nigeria as it relates to equitable distribution of opportunities. Data obtained from the General Household Survey (GHS) 2012/2013, 2015/2016 and 2018/19 of the National Bureau of Statistics were used for the analysis. The study revealed that inclusive growth was not achieved in Nigeria in the provision of employment, education and health care for the population. For inclusive growth to be achieved, timely interventions in education, health and unemployment are recommended.