Oxfam Says Rich People Are Getting Richer … 82% Of Wealth Generated In 2017 Went To 1% Of Global Population

report by Oxfam says 82 percent of the wealth generated last year went to the richest one percent of the global population.
Oxfam is an international confederation of charitable organizations focused on the alleviation of global poverty.
It added that the 3.7 billion people who make up the poorest half of the world saw no increase in their wealth during the period.
The report, titled “Reward Work, Not Wealth”, revealed how the global economy enabled a wealthy elite to accumulate vast fortunes while hundreds of millions of people are struggling to survive on poverty pay.
“Billionaire wealth has risen by an annual average of 13 percent since 2010; six times faster than the wages of ordinary workers, which have risen by a yearly average of just two percent,” the report showed.
“In Nigeria, more than half of the population still grapples with extreme poverty, while a small group of elites enjoys ever-growing wealth.
According to the Oxfam Nigeria acting Country Director, Constant Tchona, while more than 112 million people are living in poverty, the country produces at least two billionaires every year.
Similarly, the Programme Coordinator, Governance at Oxfam, Celestine Odo, said to address inequality in Nigeria, Government needs to invest in pro-poor sectors like education, health and agriculture.
He also called on the government to increase its social investment in the school feeding programme and Conditional Cash Transfers.
Also the representative of Nigeria Labour Congress (NLC), James Eustace explained why the union was pushing for the increment of the minimum wage from N18,000 to N56,000.
Source: Reuters

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