The Effects of Income Inequality on Economic Development in Nigeria

This report investigates the effects of income inequality on economic growth in developing countries, with a specific focus on Nigeria. The introduction defines income inequality and outlines the research aim, objectives, and questions. A literature review explores the concept of income inequality, its causes, and its impact on economic growth, referencing the Gini index. The methodology section details the data collection and analysis methods. The findings and analytical discussion reveal the consequences of income inequality in Nigeria, including inflation, debt, and instability. The report concludes by summarizing the key findings and emphasizing the negative impact of income inequality on the country's economic development.