The global issue of poverty remains one of the major challenges confronting the global village; even at the dawn of the 21st century with the millennium goal setting 2015 as the target year for poverty eradication. The variations in the extent of its severity across countries depend on many economic and social variables prominent among which is the educational structure, which often determine people's vulnerability to poverty. This paper therefore reports on the role of education in technology transfer and highlights strategic options for poverty reduction in Nigeria. The study made use of structured questionnaires. A total of one hundred and fifty-eight questionnaires were distributed to cover the whole population, out of which one hundred and fifty one (95.6%) responded. This population was stratified into four, namely; Universities, Polytechnics, Colleges of Agriculture and Colleges of Education in Nigeria with a view to investigating the impact of government poverty alleviation programmes using educational development strategy. In spite of her abundant resources, poverty problem was acclaimed by the Respondents to exist in Nigeria. Despite the pessimistic stance of some earlier studies, respondents believed that appropriate strategies can be effective in reducing poverty in the country. They suggested the teaching of entrepreneurship education in Nigerian post secondary institutions and strengthening of sub contracting system to promote development of small and medium enterprises. The study concluded by attributing the persistence of economic poverty to low level of literacy, inappropriate economic structures and processes created by non-culturalisation of micro economic strategies such as sub-contracting system in the technological development framework of the state. Keywords : subcontracting system, poverty reduction, technology transfer, entrepreneurship, literacy rate debugging strategy Journal of Science and Technology Vol. 28 (1) 2008 pp. 146-156