Wednesday, 19 July 2017

Nigeria is last of 152 countries ranked on their commitment to reducing inequality

A new report by Development Finance International and Oxfam has put Nigeria last of 152 countries ranked on their commitment to reducing inequality.

 According to The Guardian Newspaper, the reports says Nigeria's social spending on health, education and social protection is shamefully low, and reflected in very poor societal outcomes for its citizens.
 "Income inequality is one of Nigeria's most serious but least talked about challenges, says Mattew Page, formerly a leading US intelligence expert on Nigeria. According to him, "it is this disparity between rich and poor, more than poverty itself, that generates anti-government sentiment and could fuel civil unrest down the road".

Oxfam says inequality in Nigeria worsened significantly between 2004 and 2010 with the rich benefitting from 'dubious tax breaks and legislators receiving earnings among the highest in the world.

The report says the number of people living in poverty in Nigeria rose from 69 million in 2004 to 112 million in 2010, despite average economic growth of more than 7% a year. Similarly the number of Nigerian millionaires increased by 44%..

 These findings are not far from the truth. It's a well known fact that Nigeria's dysfunctional politics works for just few elites, their families, friends and associates. Even at the local government level, resources are hijacked by authocratic Governors for personal gains and political patronage.

The constituency funds are hijacked by the legislators as ordinary people are in the dark about constituency funds for development. The result is massive poverty, and social ills, including armed robbery and kidnapping, prostitution, etc. See More: http://www.theleadprojectfoundation.com/p/breakdown-of-salaries-of-senators-and.html

Oxfam has found that "nowhere else is the wealth gap bigger than Africa's richest country-Nigeria.".
See More: http://www.theleadprojectfoundation.com/2017/06/national-budget-war-battle-for-wealth.html

Uche Okeke is the Founder of The LEAD Project Foundation http://www.theleadprojectfoundation.com/

Read Full Report Here: https://www.theguardian.com/inequality/2017/jul/18/shameful-nigeria-doesnt-care-about-inequality-corruption

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