The problem of poverty is a complex one, most especially in Sub-Sahara Africa among which Nigeria happens to be. In effect, there is a need for appropriate social policies that can help reduce inequality and maintain social justice. Appropriate social policies can bring positive changes in the life of its citizens. The study aimed at investigating whether poverty reduction through social policy in Nigeria has translated to the reduction of the poverty level in Nigeria. To test this hypothesis GDP Per Capita was used as a measure for poverty while the independent variable includes; government expenditure on education, government expenditure on healthcare, population growth, and inflation. The data used were from 2000 to 2019 and obtained from the World Bank micro database. A similar study was done for Cyprus to compare the analysis. The data were analysed using a fixed-effect panel regression model. The results were statistically significant, government expenditure on education and health, while it was observed that the growth rate of GDP Per capita was greater than of population growth and inflation, was not statistically significant. In addition, the result of Cyprus is similar to that of Nigeria and differs only in terms of magnitude. Based on the analysis, if the government of Nigeria properly allocates funds and sees to it that the project is executed, implemented, and well managed this will go a long way to reducing poverty in Nigeria.