At the opening of 25th economic summit in Abuja on Monday, President Muhammadu Buhari disclosed that Nigeria’s wealth was concentrated in the hands of just a handful of people living in five states including Federal Capital Territory (FCT).
He made a differentiation between prosperity and wealth, saying that his government was determined to create prosperity for the largest majority of Nigerians.
“In recent years, global events have shown that when a society and its leaders are driven and motivated by these alone, the ultimate outcome is a divided state of severe inequalities.
“But a prosperous society is one where the majority of its citizens have an acceptable standard of living and a decent quality of life.
“Nigeria is a country with close to 200 million people living in 36 states and the FCT.
“This leaves the remaining 31 States with close to 150 million people in a state of expectancy and hope for better opportunity to thrive.”
This, according to him was responsible for the migratory and security trends we are seeing today both in Nigeria and across the region.
Summing up experiences of his recent travels across the world, the President said: “what was very clear at these meetings, and numerous others I have been privileged to attend over the years, is the increased consensus by leaders that to address population growth, security and corruption matters in developing economies, our policies and programs must focus on promoting inclusivity and collective prosperity.
“This shift implies that the concept of having competitive free markets that focus on wealth creation alone will be replaced by those that propagate the creation of inclusive markets which provide citizens with opportunities that will lead to peaceful and prosperous lives.”