Purpose of the study: Nigerian government has pursued myriads of poverty alleviation programmes for the ultimate purpose of mitigating poverty in the country. However, amidst the programmes, poverty still rabidly refused to get mitigated. Thus, the objectives of this study would be (a) to pinpoint some capital reasons for the persistence of extreme poverty in the country; and (b) to provide some panaceas to the issue. However, before this, the study would look at some poverty alleviation programmes in Nigeria. Methodology: This is exploratory research that is based on secondary research method. Data used were generated from textbooks, online newspapers, journal articles, organizational reports, etc. Findings: Findings of this study demonstrate that erraticness of programmes/policies, corruption and mismanagement, hypocrisy on the part of World Bank and IMF, imitation of other countries’ policies without proper consideration of the peculiarities of the Nigerian society/system, political deception and interference, etc. are responsible for the mushrooming of poverty in Nigeria even in the midst of poverty alleviation programmes. Application: This study will be of great help to Nigerian potentates/leaders and organizations who sincerely want to tackle the issue of poverty in the country. It will enable them to see the reasons for the unsuccessfulness of past and present poverty alleviation programmes in the country and the way out. Novelty/Originality: The study will be highly useful to students, lecturers and future researchers in the field of political science, mainly in Nigeria. For future researchers, particularly, the study will serve as a springboard for further research on the hindrances to the success of poverty alleviation programmes in the country.