Spiritually Rich yet Physically Poor: Dissecting the Contemporary Influence of Pentecostalism on Economic Growth in Nigeria

Abstract

This study explores the economic implications of religiosity in Nigerian Pentecostal society. Zeroing in on the country’s broader Pentecostal program, we hypothesize that the denominational sect has in many ways stifled economic growth. By examining a variety of data sources such as qualitative interviews, church teachings, and a quantitative macroeconomic analysis, the study reveals that Pentecostalism has spurred economic stagnation and perpetuated poverty in Nigerian communities. The results show that pastors commonly urge their followers to maximize religious routine and maintain faith that all needs will be provided, but they neglect and even condemn the physical work that is required to practically drive growth and prosperity. This study also investigates the source of this faith without works mentality and offers recommendations to alleviate its detrimental effects. Ultimately, this work is salient because research has seldom focused on the impact that religion can have on economic behavior within today’s developing world.