Tinubu has made 83 million Nigerians poor, just 10% control 90% of Nigeria’s wealth— Oxfam

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John Makina, the Country Director of Oxfam in Nigeria, has issued a powerful warning about the nation’s worsening inequality, calling for urgent reforms to prevent continued marginalisation of Nigeria’s youth, women, and low-income citizens.

Speaking at a policy dialogue titled “The Next 90%: Youth, Policy & A Fairer Nigeria” held in Abuja, Makina painted a stark picture of a country where the top 10% of the population controls 90% of the nation’s wealth, while over 83 million Nigerians live below the poverty line, surviving on less than ₦3,100 ($2) per day.

The event brought together key stakeholders from the Nigerian Senate, federal ministries, international bodies, embassies, and civil society organisations. The dialogue centred around how inclusive governance and equitable policies could lift the majority out of poverty and reduce structural barriers.

Youth Exclusion and Political Marginalisation

Makina highlighted Nigeria’s youth exclusion from political leadership, stating:

“There is currently no one under the age of 35 in Nigeria’s federal cabinet. This is not just a missed opportunity — it’s a national failure.”

He stressed that harnessing the energy and innovation of Nigeria’s youth is critical for national development, peace, and economic competitiveness.

Women Left Behind

Despite playing a dominant role in rural agriculture, women remain heavily marginalised in both education and politics. Makina revealed that:

Women own just 13% of arable land despite being the backbone of agriculture.

Over two-thirds of teenage girls in Northern Nigeria are illiterate.

Only 4.2% of Nigeria’s National Assembly members are women.

Female literacy stands at 35%, compared to 59.5% for men.

“This exclusion is not coincidental,” Makina said. “It’s the result of long-standing, deliberate policy neglect.”

Corporate Tax Breaks and Public Loss

Makina also slammed Nigeria’s fiscal approach, exposing that over ₦5 trillion was lost in 2024 alone through tax incentives to large corporations — a figure amounting to 18.5% of the national budget.

He called for urgent policy action, including:

Wealth and excess profit taxes

Stronger corporate regulation

Anti-monopoly enforcement

Increased public investment in health, education, and infrastructure

“While millions go hungry, we are handing out tax holidays to already profitable corporations. This is unacceptable,” he stated.

The Informal Economy and Job Insecurity

Nigeria’s informal sector makes up 65% of the national workforce, many of whom lack access to credit, insurance, or fair wages.

Makina called for:

Labour policies ensuring decent work and fair pay

A realistic national minimum wage aligned with the actual cost of living

Formalisation of small businesses through training, credit access, and simplified registration

Support for SMEs via tax incentives, capacity-building, and affordable financing

He noted that 55% of young Nigerians are trapped in vulnerable employment — a statistic he described as a “ticking time bomb” for national stability.

Historical Context and Systemic Challenges

Nigeria’s inequality has worsened over the past decade, despite several reform promises:

The Buhari administration (2015–2023) ended with high inflation, growing unemployment, and a severe debt crisis.

Post-COVID economic recovery was marred by rising food prices, subsidy overdependence, and declining oil production.

In 2023, Nigeria’s fiscal deficit exceeded 5% of GDP, and the naira continued to lose value amid persistent double-digit inflation.

Security crises from Boko Haram in the northeast, to banditry in the northwest, and separatist unrest in the South-East — intensified.

Political elites remained largely unaccountable, with anti-corruption campaigns perceived as biased and civic freedoms increasingly curtailed.

The Twitter ban (2021–2022), harassment of journalists, and clampdowns on peaceful protest reflected growing authoritarian tendencies.

Despite this, the 2023 elections were dominated by long-standing political figures  President Bola Tinubu (APC) and Atiku Abubakar (PDP)  reinforcing perceptions of elite dominance. However, the unexpected rise of Peter Obi (Labour Party) among disillusioned youths signalled potential for political realignment.

Corruption and Structural Failure

Former Vice President Yemi Osinbajo, in a 2018 town hall in the U.S., had argued that Nigeria’s underdevelopment stems not from a flawed structure but from corruption and mismanagement.

“Unless we deal with corruption, our economy will keep taking one step forward, two steps back,” he had said.

Yet Makina’s remarks suggest that these structural failures  particularly exclusionary policies and corporate influence  remain unresolved.

Call to Action

Makina concluded by emphasising that Nigeria’s inequality is not destiny but a result of policy choices.

“We can choose a different path one that includes our youth, uplifts our women, and demands accountability from the rich and powerful.”

He called for cross-sector collaboration to develop a fairer Nigeria, urging policymakers to listen to the voices of the marginalised and to implement reforms that prioritise equity over elite comfort.

 Summary:

Oxfam Nigeria’s Country Director, John Makina, has called for urgent structural and fiscal reforms to reverse deepening inequality in Nigeria. He emphasised the need for youth inclusion, women’s empowerment, corporate accountability, and investment in public services to foster a just and inclusive future.

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