The problem of poverty has remained a huge challenge to successive governments in Nigeria. It appears people are no longer suffering and smiling, but suffering, crying and dying. The magnitude of poverty in Nigeria is worrisome. The UNDP has classified the country as 141 poorest nations on human development index. In its report, Nigeria is considered one of the 20th poorest countries in the world with 70% of the population classified as poor and 54.4% living in absolute poverty (UNDP-HDI, 2006; Ekugo 2006). More recent study has revealed that the war against poverty is yet to record any meaningful success. The UNDP report (2010) covering a period of 2000-2008 indicates that 64.4% of Nigerians live below poverty line, while the country occupies 142nd position out of 147 countries in human development index.