Global governance and poverty reduction this millennium: Nigerian experience

Abstract

Issue of global poverty became very worrisome that the United Nations Millennium Summit in 2000 placed it at the heart of global agenda to halve 1990 extreme poverty and hunger rates by the end of 2015. This means that the percentage of improvised people defined by the World Bank as those living on less than $1.25 a day must fall to 25 percent by the end of this year, while the proportion of people without adequate food security must be reduced to 12.5 percent. To achieve the aim, global leaders agreed to set a time-bound and measurable goals and targets. The United Nations believes that achieving the target which involves improvements in standards of living, universal primary education, empowerment of women, reduction in mortality rates, unemployment, among others, requires a global partnership with national governments, multinational agencies through global governance architecture. The ideal of global governance is a process of co-operative leadership that brings together national governments, multilateral public agencies and civil society to achieve commonly accepted goals. It provides strategic direction and then marshals collective energies to address global challenges. It is inclusive, dynamic and operates across national and sectoral boundaries and interests. It is this perspective of global governance that drives the Millennium Development Goals agenda toward global poverty reduction. This perspective is making positive contributions with some regions in the world heading toward the achievement of the target. Even those countries in sub-saharan Africa where most of the global poor live and who are lagging behind, are making frantic efforts to do so, with the assistance of global bodies like the world bank,  IMF, UNIDO, among others. The beauty of global governance is that it appears to be more democratic than authoritarian, more openly political than bureaucratic, and more integrated than specialized. This is the level that drives the global agenda for global poverty reduction. The survey research design was used for the study. Data generated were statistically analyzed and it was found that global governance has strong positive relationship with poverty reduction.