CHARITABLE TRUST AS A MEANS OF POVERTY ALLEVIATION IN NIGERIA; PROBLEMS AND PROSPECTS

Abstract

Nigeria is currently undergoing recovery from economic recession which affects the spending-power of government on delivery of social economic rights to its ever increasing population. The level of poverty is very high, prices of goods and services are high while government finds it difficult to meet the basic needs of citizen such as water, electricity, road, housing, education, health. In a developing country like Nigeria, the functions of government go beyond maintaining law and order but also include provision of essentials socio-economic needs. In line with the projection of the current administration of President Muhammed Buhari to take Nigerians out of poverty by year 2030 and in realization of the fact the government alone cannot cater for all the needs of Nigerians, there is need for Government both at the Federal and state levels to put in place policies that will encourage private sector participation in social-economic intervention programme through institution of Charitable of trust which will assist in equitable wealth distribution. However, it is observed that despite its immense benefits, Charitable Trust is not popular practiced among Nigerians thereby denying many people of getting out of abject poverty. This paper examines the problems and prospect of Charitable Trust as a means of alleviating poverty in Nigerian. Relying on doctrinal research method, the study recommends a general change in attitude and culture of wealthy Nigerians form being self-centered to philanthropic disposition which will assist in equitable wealth distribution in Nigeria.