Poverty is a complex issue specially when it is considered that there is no precise definition. Poverty may be both in terms of material (Low income, limited physical facilities and access to services) and psychological (feeling of exclusion, unattainable expectations, lack of social mobility, etc). On basis of broadly acceptable parameters, poverty is of two types, namely absolute poverty where one is not able to afford basic human needs compared to relative poverty which refers to lacking a usually or socially acceptable level of resources or income in comparison with others within a society or country. Sub-Saharan Africa, Asia and Latin America are mostly affected. Even in United States of America, poverty is of much concern as the overall poverty was estimated at around 15.1 per cent or 46 million in 2010. Currently, it is estimated that over one billion people in the world have consumption levels below one US dollar and about two billion live on less than two dollars a day. The persistence of poverty is morally unacceptable since the world has the resources and know-how to address the poverty issue. It is indeed sobering that, despite the Industrial Revolution and technological developments, yet most of the world remains poor, still suffering from inadequate standards of living. On other hand, it is gratifying to note that the number of people living in extreme poverty is falling gradually but remain alarming. There are large variations in progress between regions. Asia is making good progress. Sub Saharan Africa is also improving. African poverty is falling since 1995. From a "high point" of almost 45 per cent of the population surviving on less than $1 dollar day in the late 1980s, that rate has fallen to 32 per cent in 2006. How come? Gross Domestic Product (GDP) began to grow (after three decades of zero or negative growth) and this growth is accompanied by huge investment in human development with emphasis on increased access to education, greater enrolment for girls and empowerment of the vulnerable groups and provision of basic infrastructure. But yet there is much to do to reach the target set by the Millenium Development Goals (MDGs) because the current economic climate is still uncertain. "Education is not a way to escape poverty - It is a way of fighting it", - Julius Nyerere, former President of the United Republic of Tanzania. The role of education in poverty combined with other social sectors, is critical. No country would have succeeded if it has not educated its people. Not only is education essential in reducing poverty, it is also a key vector for wealth creation. The objective of this paper is to examine the central issues raised by the challenges of eradicating absolute poverty, reducing inequality, and creating employment opportunities via education. No doubt, these challenges warrant the international community to reassert firmly the development priority and reshape development policies in ensuring that people, in particular the most vulnerable segment of the world population, has access to quality education, improved health services, decent job and quality nutrition.
