Sani, B. M.Abubakar, A. Y.Jagongo, A. O.2015-01-062015-01-062014-09-01International Interdisciplinary Journal of Scientific Research Vol. 1 No. 1 September, 20142200-9833http://www.ku.ac.ke/schools/business/images/stories/research/crtitical_appraisal_of_global_benchmarks.pdfhttp://ir-library.ku.ac.ke/handle/123456789/11871Eradication of Poverty has now been established to transcend beyond Community, country or regional goal with its inclusion as part of Millennium Development Goals (MDG). This paper as the title suggests reviews the existing approaches for measuring poverty as well as a critique of the various approaches. At the background, the paper reviews the concept of poverty from the theoretical and poor people’s point of view. It then highlights the features, structure and magnitude of poverty in Nigeria. The core part of the paper discusses critically the existing methodologies/approaches for measuring poverty, and the critique/limitations of such measures. Finally, it proposes new approaches/methods that may be more in line with the cultural and economic settings and conditions of third world countries like Nigeria.enPovertyPoverty eradicationMillennium Development GoalsAbsolute PovertyRelative PovertyCore or Abject PovertyHead Count Index MeasureQuality of Life IndexPoverty Gap MeasureHuman Development IndexArticle