Poverty

There is no concise way to defining the concept of poverty, as it is a multidimensional issues that affects many aspects of human condition ranging from physical to moral and psychological (ogwumike,2002). Poverty means different things to different people. There is yet no universal accepted definition of poverty, there is always the difficulty in deciding where to draw the line between the poor and the non poor on a wide dimension.

There is poverty when an individual is unable to meet what is considered as a minimum requirement to sustain livelihood in a given society (ogwumike,2001).
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Poverty has also been conceptualiZed in both the '' value and absolute'' senses. This is generally based on whether relative or absolute standard are adopted in the determination of the minimum income required to meet basic life's necessities. The relative conceptualization of poverty is largely income based. Accordingly, poverty is an unacceptable deprivation in well being (world bank, 2001), it exists when there is lack of the means to satisfy critical needs.
Poverty can be regarded as the status,objective or subjective of an individual or a population.
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It will have an objective definition once observable and measurable indicators exist that are used to approach the material or other aspects of the lives of individual. On the other hand,the subjective definition of poverty is when judgement of individual is taken into consideration in order to investigate their welfare (Boccanfuso,2004). What is most important to deduce from these different definition is that poverty must be conceived,defined and measure in absolute quantitative ways that are irrelevant for analysis in given time.

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