ABSTRACT
Poverty levels in the developing world; especially Sub-Saharan Africa still pose major challenges to overall development in the continent and globally; against the backdrop of the millennium development goals. A critical appraisal of poverty and development theories suggests that as long as individuals and communities are caught in poverty traps (in the form of low resources; low physical and human capital); exclusions from global markets and government and market failures they cannot enjoy the economic development experienced in high income; developed countries. The MDGs were developed in good faith to assist in reducing global economic development disparities; however; an assessment of the current status of African countries reveals a trend whereby it is highly unlikely that any of the targets set by the goals will be met by 2015. Goal 4 - the reduction of infant mortality rates - which would have been met; has been threatened by civil disturbances and increasing incidence of HIV/AIDS. Within Nigeria; where 50live below the poverty line; the poverty situation is exacerbated by inequality in incomes; in assets (education and health status); in control over public resources and in access to essential services; coupled with high levels of insecurity. Growth strategies for reducing poverty levels in Sub-Saharan countries; and Nigeria in particular; must be pro-poor. Such strategies must eliminate discrimination against rural and agricultural development; invest in human capital (education and health); improve household consumption levels to reduce deprivation of basic needs by vulnerable members; particularly children; the widowed and the aged; provide access to markets and public infrastructure and facilitate the creation of new jobs. Ongoing economic and structural reforms in the country must be maintained on a sustained level that will permit poverty reduction and better quality of life