- Development & Aid
- Economy & Trade
- Human Rights
- Global Governance
- Civil Society
Tuesday, September 26, 2023
LAGOS, Nigeria, Nov 26 2014 (IPS) - With a production capacity of over 3 million barrels of crude oil per day Nigeria is Africa’s top crude oil producer and the continent’s largest economy. But Nigeria’s wealth has only benefited a privileged few while majority of the citizens remain poor. Poverty and inequality in Nigeria have increased crime rate and heightened crisis including the insurgency of the terrorist group Boko Haram.
“Nigeria is a perfect example of high level of economic growth co-existing with a high level of poverty and a very high level of inequality…the problem with the kind of growth that Nigeria has is that it tends to focus more on enabling the rich to become richer as opposed to finding a level ground to start ensuring that the wealth is trickling down to the extremely poor people,” says Development economist, Rebecca Roberts.
Filmed and produced by Sam Olukoya in Lagos, Nigeria
IPS is an international communication institution with a global news agency at its core,
raising the voices of the South
and civil society on issues of development, globalisation, human rights and the environment
Copyright © 2023 IPS-Inter Press Service. All rights reserved. - Terms & Conditions
You have the Power to Make a Difference
Would you consider a $20.00 contribution today that will help to keep the IPS news wire active? Your contribution will make a huge difference.