529 Views

REVEALED: Aliko Dangote, Mike Adenuga, Femi Otedola, Others Can End Poverty In Nigeria!!  

On Wednesday, Oxfam International in Abuja unveiled its ‘Inequality in Nigeria’ report, which revealed the harsh economic reality in a country where 112 million citizens live in abject poverty, stating that the combined wealth of five of her richest citizens, put at about $29.9bn, could end extreme poverty in the nation.

Quoting Forbes, the agency listed the five richest Nigerians as Aliko Dangote, with a net worth $14.4bn; Mike Adenuga, $9.9bn; Femi Otedola, $1.85bn; Folorunsho Alakija, $1.55bn; and Abdulsamad Rabiu, $1.1bn.

According to Oxfam, the report exposes the large and growing gap between the country’s rich and poor, adding that it also reveals how the benefits of economic growth are captured by a few wealthy elite at the expense of ordinary Nigerians.

It said the richest man in Nigeria earned 8,000 times more in one day than a poor citizen would spend on basic needs in a year.

The report listed Nigeria as one of the few countries where the number of people living in poverty was on the increase despite the growth of the economy, adding that 69 per cent of citizens in the North-East states were living below the poverty line, compared to 49 per cent in the South-West.

The reported further stated that poor people were not benefiting from Nigeria’s wealth because of high level of corruption and the excessive influence that big businesses and some wealthy elite had over the government and policymaking.

It alleged that public office holders stole an estimated sum of $20tn from the treasury between 1960 and 2005, while multinational companies received tax incentives estimated at $2.9bn a year.

But rather than react to the issues raised in the report, the Minister of State for Budget and National Planning, Mrs. Zainab Ahmed, faulted the structure of the report, arguing that it failed to answer key questions that were typical of similar reports.

ALSO READ  MTN Solutions Space Venture Incubation Programme 2018 for digital Entrepreneurs

She also stated that the report failed to provide solutions to some of the problems it identified, adding that the document did not define key concepts such as poverty and who the elite were.

The minister, who was represented by the Director of International Cooperation in the ministry, Mr. Eloho Samuel, further argued that the recommendations in the report were too broad.

She said,

 “I was worried by the language, tone and style of the report, and this made me to ask what was at the back of the mind of the authors when the report was being written? Oxfam needs to tune the report and put in an element of diplomacy. The methodology used in the report also raises some questions.
“Is it for empirical or theoretical purpose? Oxfam needs to tell us in the report what it intends to achieve, what data was gathered, where it was gathered, the sample size and the uses of the data.”

The minister stated that positive developments and efforts of the Federal Government were not captured in the report and noted that similar reports often identify problems and proffer solutions.

Ahmed said,

“When I looked at the report, I was worried about certain concepts such as ‘who are the elite?’ There was no definition of terms, such as elite and poverty. More worrisome is if the report falls into the hands of aggrieved individuals, how would they react?
“To us in Nigeria, when we find problems, we pray for the leaders. Let us think Nigeria, write Nigeria and behave like Nigerians.”

Punch

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest Posts

Nigerian Rapper, Vector, Calls Out SARS In New Release
Entertainment
42 views
Entertainment
42 views

Nigerian Rapper, Vector, Calls Out SARS In New Release

PH - June 19, 2018

The continuous outcry by youngsters over the domineering intrusion and at times unreserved brutality of members of the Special Anti-robbery Squad (SARS) against the youths has apparently…

Meaningful Hairstyles Among Yoruba Women In Those Days
Art, History and Culture
45 views
Art, History and Culture
45 views

Meaningful Hairstyles Among Yoruba Women In Those Days

PH - June 19, 2018

In Yorubaland, in those days, women did not just plait their way to make them beautiful only. But some hairstyles were a means of identifying specific kinds…

This Government Has Done More Than Enough – Governor Ajimobi
Politics
44 views
Politics
44 views

This Government Has Done More Than Enough – Governor Ajimobi

PH - June 19, 2018

Abiola Ajimobi, governor of Oyo state, says the All Progressives Congress (APC) has done more than enough for the country. The governor said this on Roadmap 2019,…

Why President Buhari Honoured MKO Abiola, Kingibe
Politics
54 views
Politics
54 views

Why President Buhari Honoured MKO Abiola, Kingibe

PH - June 19, 2018

A Former governor of Kaduna State, and elder statesman, Balarabe Musa, has revealed why President Muhammadu Buhari gave a posthumous award to Chief M.K.O Abiola and recognized…

Oluwo of Iwo land, Oba Abulrasheed Donates N1.5bn Medical Equipment
Food and Health
55 views
Food and Health
55 views

Oluwo of Iwo land, Oba Abulrasheed Donates N1.5bn Medical Equipment

PH - June 19, 2018

The Oluwo of Iwo land, Osun State, Oba Abulrasheed Adewale Akanbi, on Monday, donated medical equipment worth N1.5bn to hospitals in Iwo land. A statement signed by…

3  Ways To Make Your Partner Feel Special
Romance and Love
59 views
Romance and Love
59 views

3 Ways To Make Your Partner Feel Special

PH - June 19, 2018

Every one wants to be special to someone, if not to everyone, so it cost almost nothing to make your partner feel special. So when next you…

Kayode Shows His Love For The Ukrainian Club With  A New Hair Style
Sports
61 views
Sports
61 views

Kayode Shows His Love For The Ukrainian Club With A New Hair Style

PH - June 19, 2018

Kayode Olanrewaju, Nigera forward has declared that the main reason for his new look is his love for Ukrainian club, Shakhtar Donestsk. Kayode, 25, recently penned a…

See The Top 10 Most Used cars In Nigeria
Best of Nigeria
58 views
Best of Nigeria
58 views

See The Top 10 Most Used cars In Nigeria

PH - June 19, 2018

You possibly might have been guessing which car is the most used car here in Nigeria. This list on the most used cars in Nigeria will prove…

“Why I Choose Not To Help Anybody” – Nigeria Rapper, Olamide
Entertainment
66 views
Entertainment
66 views

“Why I Choose Not To Help Anybody” – Nigeria Rapper, Olamide

MT - June 19, 2018

Nigerian artiste, Olamide Adedeji has got people talking on social media with a post he made on Instagram. Olamide shared a photo with a questionable caption, “Oyinbo…

Meet the Rapper Who Lives With All His Three Babymamas and Kids in the Same House (Photos)
Entertainment
78 views
Entertainment
78 views

Meet the Rapper Who Lives With All His Three Babymamas and Kids in the Same House (Photos)

MT - June 19, 2018

Ahunna Stacks is an American rapper from Chicago who is making serious headlines around the world because of a really bold move he made. The American musician,…

2018 World Cup; Why John Mikel Obi Is Under Pressure To Fulfill Promise To Buhari
Sports
65 views
Sports
65 views

2018 World Cup; Why John Mikel Obi Is Under Pressure To Fulfill Promise To Buhari

MT - June 19, 2018

Super Eagles’ captain Mikel Obi has been put under intense pressure to lead the team to a resounding victory against Iceland on Friday, as well as fulfill…

Sallah: How Boko Haram Terrorists Observed Eid Prayer In Sambisa Forest. [Video]
Shocking
63 views
Shocking
63 views

Sallah: How Boko Haram Terrorists Observed Eid Prayer In Sambisa Forest. [Video]

MT - June 19, 2018

A compilation video of how Boko Haram terrorists observed Eid-el-Fitr in various locations of Sambisa forest has surfaced on the internet. A journalist with access to the…

What Will It Take To Make Nigeria Better
Business
64 views
Business
64 views

What Will It Take To Make Nigeria Better

PH - June 19, 2018

Nigerians need to agree that something has to be done before there can be any improvement in the system of the country, there has been various assumptions…

Meet Nigeria’s King Of Music, King Sunny Ade
Best of Nigeria
85 views
Best of Nigeria
85 views

Meet Nigeria’s King Of Music, King Sunny Ade

PH - June 19, 2018

Sunday Adeniyi Adegeye, popularly known as King Sunny Ade was born September 1, 1946. He is a Nigerian born popular musician in the development and popularization of…

Food and Health
66 views

Breaking Bad Habits And Replacing Them With Good Ones

PH - June 19, 2018

Bad habits are mostly cultivated when people feel stressed or bored. Once it is cultivated, it becomes very hard to give up on it. Different things can…

See 8 Things You Should Never Say Via A Text
Lifestyle
72 views
Lifestyle
72 views

See 8 Things You Should Never Say Via A Text

PH - June 19, 2018

People say some things are better left unsaid, but I would say," some things are better said in person than on text". When texting another person, your…

5 Strange Animals Nigerians Eat As Meat
Animals
81 views
Animals
81 views

5 Strange Animals Nigerians Eat As Meat

PH - June 19, 2018

If you have never been to a place before, you can never have the full understanding of their way of live. So the adage says, " one…

How UK Helps Nigeria Seize Looted Assets
Politics
61 views
Politics
61 views

How UK Helps Nigeria Seize Looted Assets

PH - June 19, 2018

The Federal Government has given an insight into how it gets the assistance of the United Kingdom to seize properties and other assets linked to funds allegedly…

Loading...