Sun. Oct 20th, 2019

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A Very Low Percentage Of Nigerians Are Wealthy — Buhari

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Major-General Muhammadu Buhari

President Muhammadu Buhari on Monday attest to what seems like a debate among Nigerians within and outside that there are no middle class, except the high class and the low class in respect to those financial situation. 

The president affirmed that an essential ratio of the prosperity of Nigeria today is dominated in the hands of a very low percentage of Nigerians who are believed to be in the high class. 

He believes the low percentage resides in about four or five states and the Federal Capital Territory inclusive. 

The President disclosed this during the opening session of the 25th Nigerian Economic Summit held in Abuja.

According to the President, only five of the states in the country occupy most of the wealthy people, meanwhile the other 31 states with over 150 million people are hoping for a better chance to survive.

The President, however, believes that a successful society is such which have a high percentage of its occupants with an acceptable standard of living and a moderate quality of life.

“My administration knows that the desire of every Nigerians is to have a better lifestyle and this is why we are working so hard to reduce the unemployment and poverty level.”

‘‘Many misquote prosperity with wealth today but these two areobviously not the same.”

‘‘Experts and analysts illustrate economic trends by referring to indicators of wealth.”

‘‘Wealth in its simple illustration, is money or other assets. In recent years, global events have shown that when a society and its leaders are driven and motivated by these mindset, the general outcome is a splited state of tough differences.”

‘‘In a prosperous society, a high proportion of its citizens have an acceptable standard of living and a decent quality of life,’’.

‘‘Nigeria is a country with about 200 million people residing in 36 states and the FCT.”

‘‘An essential ratio of the prosperity of Nigeria today isdominated in the hands of a very low percentage of Nigerianswho are believed to be in the high class category live in four or five states and the FCT. Some of the most prosperous Nigerians are here in this room.”

‘‘Whereas the remaining 31 States with about 150 million people leave in a state of expectancy and looking forward to abetter chance to survive. This leads the migratory and security trends we are facing today both in the country and across the globe,” he added.

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