OXFAM urges African leaders to tackle inequality, poverty

By Abubakar Yunusa

African leaders have been urged to address the widening gap of inequality and combat poverty for the overall well-being of their citizens.

The call was made by an International organization OXFAM, during a press conference in Abuja on its annual World Economic Forum inequality report.

The OXFAM Country Director in Nigeria, Mr. Tijjani Hamza, said there was significant monopoly of power which contributed to the aggravation of economic inequality.

The organization in its report “The world’s five richest men have more than doubled their fortunes from $405 billion to $869 billion since 2020 —at a rate of $14 million per hour— while nearly five billion people have been made poorer”

“These corporations are worth $10.2 trillion, equivalent to more than the combined GDPs of all countries in Africa and Latin America, if current trends continue, the world will have its first trillionaire within a decade but poverty won’t be eradicated for another 229 years”, It added.

Mr. Hamza explained that private sector should be regulated to prevent the exploitation of workers and tax evasion by corporations.

Our rigged economies are benefiting the super-rich while governments are struggling to provide crucial public services like healthcare and education to Africans across the continent. Governments must step up and ensure corporations stop squeezing workers, dogging tax, and plundering our planet in their quest for massive profits. he noted.

The Executive Director of Civil Society Legislative Advocacy Centre (CISLAC), Mr. Awwal Rafsanjani, explained that the persistent poverty is linked to a lack of people-oriented budgeting and the high cost of electioneering in the country.

The Chief Executive Officer of Connected Development, Hamzat Lawal and Manager at BudgiT Foundation, Andrew Oaikhena urged the federal government to promote fairness, equity, and justice.