Dangote, Adenuga, Others Can End Poverty In Nigeria

Oxfam International unveiled its ‘Inequality in Nigeria’ report in Abuja yesterday, which revealed the harsh economic reality in a country where 112 million citizens live in abject poverty.

The report stated that the combined wealth of five of her richest citizens, put at about $29.9bn, could end extreme poverty in Nigeria.

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 firms received tax incentives estimated at $2.9bn a year.


  1. That is corruption on the increase...

    Nigeria can be better if we love ourselves...

  2. Dangote is even making Nigerians suffer, how can he sell 1 bag of N2800? If not that he was politically favoured would he have attended that level he was today. Why should the past administrations deprived other business mugul license to manufacture cement? What happened to Nkalagu, eagle, Atlas cement? etc. Must everything thing be politicalized? Our leaders was the one's creating room for poverty in Nigeria. The only option is to apply a total elimination process or barn to all the corrupt leaders in this. This nation needs to be recolonised.

  3. Why would they be the one to end poverty in Nigeria? what about our so called government, the totality of their wealth is not even up to the total recovered loot, let's make judicious use of that to alleviate poverty in Nigeria

  4. omg..this country is financially raped..our biz men and politicians shaa..God go help us

  5. What of this so call politicians, all the money they looted, if use judiciously it will turn this country around.

  6. The problem is far beyond them but they can help


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