Combined wealth of Dangote, Adenuga, Otedola, Alakija, Danjuma can end extreme poverty in Nigeria - Oxfam | Welcome to Linda Ikeji's Blog

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Thursday, 18 May 2017

Combined wealth of Dangote, Adenuga, Otedola, Alakija, Danjuma can end extreme poverty in Nigeria - Oxfam

The combined wealth of Nigeria’s five richest people, Aliko Dangote, Mike Adenuga, Femi Otedola, Folorunsho Alakija and Theophilus Danjuma, estimated to be almost $30billion, can end extreme poverty in Nigeria, this is according to a report by Oxfam International. Read the report from NAN below...
The Inequality report released by Oxfam International on Wednesday, revealed that the combined wealth of five richest Nigerians, put at $29.9 billion, could end extreme poverty in the country. The report, entitled ‘Inequality in Nigeria, Exploring the Drivers’ and obtained in Abuja, exposed the large and growing gap between the rich and poor in Nigeria.
It revealed that the benefits of the nation’s economic growth had been captured by a few wealthy elite at the expense of the ordinary Nigerians.

According to the report, the economic inequality is a key factor in the conflict in the north-eastern states of the country. Oxfam International also disclosed that Nigeria’s richest man earned 8,000 times more in one day than a poor Nigerian would spend on basic needs in a year. It said that more than 112 million people were living in poverty in Nigeria, yet the country’s richest man would need to spend one million dollars a day for 42 years to exhaust his fortune.

According to the report, Nigeria is one of the few countries where the number of people living in poverty is on the increase despite the growth of the economy. The report also indicated that 69 per cent of people now live below the poverty line in north-eastern states, compared to the 49 per cent in the south-west. It also showed that women were not being captured on the benefits of economic growth because they tended to be employed in low-skilled, low-paid informal jobs.

According to the organisation, women represent between 60 per cent and 79 per cent of Nigeria’s rural labour force but are five times less likely to own their own land than men. It further stated that women were also less likely to have had a decent education, noting that over three quarters of the poorest women in Nigeria had never been to school.

The report said that poor people did not benefit from Nigeria’s wealth because of high level of corruption and the excessive influence big business and some wealthy elite had over government and policy making. According to the report, public office holders stole estimated $20 trillion from the treasury between 1960 and 2005, while multinational companies receive tax incentives estimated at 2.9 billion dollars a year.

This development, it said, was three times more than Nigeria’s entire health budget. It further revealed that small and medium size businesses and workers in the informal sector, however, faced multiple taxes. “Despite being Africa’s biggest economy, the share of the national budget allocated to education, health and social protection is one of the lowest in the region.

“In 2012, Nigeria spent just 6.5 per cent of its national budget on education and just 3.5 per cent on health. “By comparison, Ghana spent 18.5 per cent and 12.8 per cent, respectively in 2015. ‘’As a result, 57 million Nigerians lack safe water, over 130 million lack adequate sanitation and the country has more than 10 million children out of school,” it stated.

Commenting on the report, Celestine Odo, Good Governance Programme Coordinator for Oxfam in Nigeria, said extreme inequality was undermining the economy and fermenting social unrest. According to him, Nigerian leaders must be more determined to tackling this terrible problem.

Mr. Odo said that it was an irony that Nigerians were living in poverty in spite the abundance of wealth in the country. He said it was important to free millions of Nigerians from poverty by building a new political and economic system that would work for everyone and not just a fortunate few.

“The government can make a start by tackling corruption, ensuring big business and wealthy individuals pay their fair share of tax, investing in vital public services, and protecting the rights of women,” Mr. Odo said.

Source: NAN

33 comments:

Max Ayuba said...

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Sweetchild Sweet said...

But unfortunately these are greedy merchants & will never combine there wealth to uplift any populace.

dee boi said...

Dem no add Linda ikeja own?... dee

Saint said...

Aunty Linda, please help me beg them to combine their wealth and end poverty in Nigeria. `we will be proud to call them our hero.

You can also support them because God has made you Ezege in Phyno Voice

Anonymous said...

even if that amount is given to this government, it will still b embezzled and poverty will continue...f**k dis country

Anonymous said...

Nonsense- Lazy minds..better remove your eyes from someone else's money

Anonymous said...

Why don't we ask to learn how to build wealth too, under this pple, instead of asking them for their. Bcos even if they share all their money, they will still make more

LALAcious smallchops said...

....then five of them should form a unity govt nd serve naija. #Gbam¡

Chisom Ada said...

But davido alone has 30billion dollars in the bank, or is it in naira..???

Anonymous said...

Let them instead get bill gates, Larry Ellison,warren buffet and mark zukerberg to combine their wealth and end poverty in the world as a whole. Stupid!!!

Anonymous said...

They are the reason that there is extreme poverty in Nigeria in the first place. Conering and dominating everything for themselves.

If Nigeria was governed properly and the rule of law prevailed, there will be no one person as rich as Dangote. Look at the size of our economy and the richest person here. Compare it with the size of the US economy, for example, and the richest person there.

Onah Caleb said...

Something must be wrong somewhere, Linda Ikeji is missing.

Anonymous said...

The problem I have on d list is Danjuma. . A common military man turn billionaire .... the military leaders especially from the North stole this nation dry...d acclaimed corruption today is a learner....all the ex military leaders of this country should be tried and killed

desmond chuddy said...

He said 30billion no currency name..it could b 30billion girls or palm kernel trees. But let me clear u more, da "3"0 is use to show d sign of illuminati cos 50,20,40 or 100billion can form d sign wen shown wit hands! I(lluminati)-F(amily). Das d IF

Anonymous said...

It should be the other way round OXFAM. If we combine the money donated to u for this same cause- Africa should be the richest country in the world. We are going to sue you for using images of our children to enrich your stupid ass.

Oscar Lee said...

Are you tired of your ATM card not doing foreign transactions? You know that's really bad for business. Now, let me help you get a payoneer card in Nigeria within 2 weeks and you get a $25 bonus free.

Anonymous said...

yeah that one is for the business people of the country... but how about the POLITICIANS? The combo of Obasanjo, Saraki and Amaechi's money should end extreme poverty! awon olojukokoro!

Anonymous said...

Nigeria is sadly a land of marked economic inequality, primitive wealth accumulation and unbridled reckless consumption by the elite (who unfortunately make up only a percent of the country's population) at the pyramidal top with the downtrodden (well over 90% of the national population) at the pyramidal base or foot. And to say the least, Oxfarm did not mention past wealthy rulers the likes of which include: Atiku, Tinubu, Obasanjo, Babangida, the Abachas, Jonathan and so on.
The very last question I intend to ask is, "how did Danjuma make the list to the top?" Is it by thriftily saving his perquisites and pensions during and after a military career, even as he was not lucky to have ruled like the Babangidas?
Tomorrow people fantasize over the elitist wedding ceremonies like where a Ms Babangida is given out in marriage to one Mr Yar'adua with certain sitting governors and serving senators as guests in a fad for lavish waste of scarcely available state fund. Truly for her bad distributive economy, Nigeria deserves "tyranny of the majority" as against the status quo.

#TheWretchedOfTheEarth#
#HowNigeriansUnderdevelopedNigeria#

The Aficionado

Anonymous said...

One of the billion is oweing his contracted security six month salaries. He can endorse even mosquitoes but owes contractors like Afise

Anonymous said...

What about d political Billionaire. Those cronies ruling from Adam. We are fed up with same people

Anonymous said...

They pay media huge money so their shots dnt get online

Anonymous said...

A Billionaire is paying his security at his offices #13500 since 13years. That man will be flaunting his wealth like all is well. Nigerians are wicked

Anonymous said...

These men have bought the media judicial police n other agency. They owe u one million they use 5million to bribe the judicial

Vivian Reginalds said...

WELL GREED NO GO GREE SO NEXT?
-D great anonymous now as Vivian Reginalds

Anonymous said...

Poverty is not all about money. There is the mindset, unsustainable way of living, lack of education and so on. Addressing poverty is a complex issue and OXFAM should know be better... Except they were quoted out of context. A poor man can have a million and still squander it in a day.

Anonymous said...

Looted funds in Nigeria is enough to eradicate extreme poverty in Africa.

hrm paul said...

Obasanjo thiefnubu, dantata indimi orji kalu ifeanyi uba saraki amechi odili akpabio are undocumented billionaires esp ibb and obasanjo and jagaban

Anonymous said...

Is Oxfam of d opinion that Nigeria as a nation doesn't worth more than $30 billion? What can or has the Nigerian government done to end the extreme poverty? Why would any sane body expect the totality of the funds that belong to a few individuals be used to finance a project that will benefit a whole nation when the nation in question has far more resources at it's disposal than the these few individuals?

Anonymous said...

Oxfam it is called selfish and greedy...for our family only begots!

AGB said...

Don't mind lazy Nigerians everywhere.

AGB said...

Don't mind the silly nitwits.

AGB said...

Don't mind the silly nitwits.

AGB said...

Don't mind the silly nitwits.

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