Religion or Good Corporate Governance as A Means of Poverty Alleviation in Nigeria

Abstract

Poverty has long been an endemic problem in developing countries and finding ways of alleviating same is a serious challenge to governments, Non-Governmental Organizations (NGOs) and the society at large. This is often explained from a spiritual angle whereas there has been increasing demand for a more pragmatic explanation in this regard. Although religion has to some extent served as a means of wealth redistribution and poverty alleviation through the compulsory religious tax aimed at helping the poor and encouragement of charity. On the other hand, corporations have become an indispensable ally to religion in the societies’ drive towards reducing poverty especially in a developing country like Nigeria. This paper examines the ways in which corporations can better contribute to poverty reduction efforts through good corporate governance. The paper found that good corporate governance epitomized in labor intensive business models and investments among the poor by corporations can provide a new vista in the efforts at reducing poverty. The paper concludes that economic activity to be generated by corporate investments among and involving the poor goes a long way in poverty alleviation.