Only A Few Citizens Own Majority Of Nigeria’s Wealth – Buhari

Posted by: Folamidavid in News, Politics Oct 8, 2019

President Muhammadu Buhari has blasted the widespread inequality in Nigeria, stating that a major portion of the nation’s wealth is in the hands of a few Nigerians.

Speaking in Abuja, at the opening session of the 25th Nigerian Economic Summit, NES, Buhari revealed that these few rich Nigerians live in just 5 states of the federation and the Federal Capital Territory, FCT.

He, however, added that FG is doing all it can to enhance inclusiveness.

He said in the last 48 months, the government had concentrated on getting a huge percentage of Nigerians out of poverty.

His words, “Today, many mistake prosperity with wealth. They are not necessarily the same. Experts and analysts explain economic trends by making references to indicators of wealth. Wealth, however, in its simplistic form, is money or other assets. In recent years, global events have shown that when a society and its leaders are driven and motivated by these alone, the ultimate outcome is a divided state of severe inequalities.

“But a prosperous society is one where majority of its citizens have an acceptable standard of living and a decent quality of life.

“Nigeria is a country with close to 200 million people living in 36 states and the FCT. A significant proportion of Nigeria’s prosperity today is concentrated in the hands of a few people living primarily in four or five states and the FCT. Some of the most prosperous Nigerians are here in this room.”

“As a government, we very much look forward to our continued collaborating with the private sector in designing and implementing developmental projects that will keep Nigeria on track for sustained, inclusive and prosperity driven growth.”