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LequteMan
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According to a report released by Oxfam International, a handful of wealthy Nigerians can end the poverty in Nigeria.
The five richest Nigerians according to Forbes are 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.
The 'Inequality in Nigeria' report says the benefits of economic growth are captured by a few wealthy elite at the expense of ordinary Nigerians.
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 said.
It added that poor people were not benefiting from the wealth of the nation because of a high level of corruption and the excessive influence that big businesses and some wealthy elite had over the government and policymaking.
According to the report, 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.
When contacted Minister of State for Budget and National Planning, Mrs. Zainab Ahmed, faulted the structure of the report. She said it failed to answer key questions that were typical of similar reports.
The five richest Nigerians according to Forbes are 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.
The 'Inequality in Nigeria' report says the benefits of economic growth are captured by a few wealthy elite at the expense of ordinary Nigerians.
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 said.
It added that poor people were not benefiting from the wealth of the nation because of a high level of corruption and the excessive influence that big businesses and some wealthy elite had over the government and policymaking.
According to the report, 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.
When contacted Minister of State for Budget and National Planning, Mrs. Zainab Ahmed, faulted the structure of the report. She said it failed to answer key questions that were typical of similar reports.
