Your Nigerian Economist

Your Nigerian Economist

Inclusive growth lies at the heart of Nigeria's development. From macroeconomic policies to energy resources; trade to development topics, Your Nigerian Economist engages the citizenry in discussing relevant economic issues and proffers solutions towards a fairer, more developed economy.

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Inequality in Nigeria is worse than it looks

Mma Amara Ekeruche

Mma Amara Ekeruche

Amara works as a Research Associate at the Centre for the Study of the Economies of Africa (CSEA). She holds a BA (first class) in Economics from Kwame Nkrumah University of Science and Technology, Ghana and an MSc in Economic Policy from University College London.

Your Nigerian Economist believes that a person’s economic prospects should be determined by her talent and skill, not by circumstances beyond her control. That a girl born into an underprivileged family in rural Nigeria should have a fair chance at life as a boy born to an affluent couple. And that such equity could be achieved if the government becomes more deliberate in giving all citizens equal access to opportunities.  

 

Nigeria is Africa’s largest economy, yet three in every five Nigerians live in poverty. Inequality has reached such extreme levels that the country’s five richest men – worth $29.9 billion – could lift 86 million Nigerians out of extreme poverty for one year. Worse still, poverty continues to rise, as recent reports suggest that Nigeria may become the country with the most poor people in the world by 2018.

Our economy has grown without creating adequate opportunities for the broader population. Resources are unevenly distributed, resulting in persistent inequities across generations and regions. The poor are poor because the rich are rich; such an exclusion of the common man in the growth process hinders long-term economic growth and weakens national solidarity, evident in recent terrorist activities and calls for restructuring.

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