Abuja/Zaria — The Nigeria's rich list is
growing rapidly even as the country's poverty rate escalates. In this
year's list of 40 African billionaires by Forbes magazine, 11 Nigerians
were mentioned. This is even as many Nigerians blame government's
pro-rich policies and anti-poor moves for the widening disparity between
the rich and the poor. Weekly Trust reports
In the 2012 list of Africa's 40 billionaires compiled by the Forbes Magazine, Nigeria made a strong showing with more than one fourth of the names contained in the role, which had 12 South Africans. Nigeria was ahead of Egypt which had eight billionaires on the list and Morocco which had five. Angola, Tanzania, Kenya and Uganda had one each.
In a symbolic showing, the Africa billionaire list, a Nigerian billionaire Aliko Dangote came first just as his compatriot Hakeem Belo-Osagie closed the list. The only snag is that this is coming on the heel of rising poverty among Nigerians as indicated in the National Poverty Profile released by the National Bureau of Statistics.
But as the world celebrates the billionaires, the reactions in Nigeria is mixed, with many observers blaming the government of coming up with policies that make the rich richer just as they make the poor poorer. Instructively, six out of the 11 billionaires produced by Nigerians - Mike Adenuga, Folorunsho Alakija, Theophilus Danjuma, Mohammed Indimi, O.B. Lulu-Briggs and Sani Bello - have oil as one of their sources of income, while come combine oil and telecommunications as well as other self initiatives as the Forbes list shows.
Dangote, according to the Forbes list, made his billions mainly from businesses in cement, sugar and flour; so also is Abdulsamad Rabiu. Jim Ovia (banking), while Oba Otudeko (who has stakes in Airtel Nigeria) and Hakeem Belo-Osagie (Etisalat) have telecoms as their sources of billions.
Many observers however say that government policies favour the rich, just as they make the poor poorer. They say though oil accounts for majority of Nigeria's foreign earnings, a lot of billions are being lost to favoured businessmen who "cut corners and shortchange" the government with impunity.
In the 2012 list of Africa's 40 billionaires compiled by the Forbes Magazine, Nigeria made a strong showing with more than one fourth of the names contained in the role, which had 12 South Africans. Nigeria was ahead of Egypt which had eight billionaires on the list and Morocco which had five. Angola, Tanzania, Kenya and Uganda had one each.
In a symbolic showing, the Africa billionaire list, a Nigerian billionaire Aliko Dangote came first just as his compatriot Hakeem Belo-Osagie closed the list. The only snag is that this is coming on the heel of rising poverty among Nigerians as indicated in the National Poverty Profile released by the National Bureau of Statistics.
But as the world celebrates the billionaires, the reactions in Nigeria is mixed, with many observers blaming the government of coming up with policies that make the rich richer just as they make the poor poorer. Instructively, six out of the 11 billionaires produced by Nigerians - Mike Adenuga, Folorunsho Alakija, Theophilus Danjuma, Mohammed Indimi, O.B. Lulu-Briggs and Sani Bello - have oil as one of their sources of income, while come combine oil and telecommunications as well as other self initiatives as the Forbes list shows.
Dangote, according to the Forbes list, made his billions mainly from businesses in cement, sugar and flour; so also is Abdulsamad Rabiu. Jim Ovia (banking), while Oba Otudeko (who has stakes in Airtel Nigeria) and Hakeem Belo-Osagie (Etisalat) have telecoms as their sources of billions.
Many observers however say that government policies favour the rich, just as they make the poor poorer. They say though oil accounts for majority of Nigeria's foreign earnings, a lot of billions are being lost to favoured businessmen who "cut corners and shortchange" the government with impunity.
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