Nigeria 13th Poorest, but Six Nigerians Among World's Richest

December 20, 2000 - 0:0
LAGOS Nigeria is the world's 13th poorest country but six individual Nigerians rank among the world's 100 richest people, press reports said here Tuesday.

The reports, based on findings of a survey aired by the BBC and reported by AFP on Monday, were splashed across the front pages of most newspapers.

With a population of over 120 million people, Nigeria's per capita income is just $310 with most of the wealth produced by the country's major oil industry remaining in the hands of a privileged few.

"Six Nigerians ranked among the world's richest," said the newspaper The Punch on Tuesday.

Nigerian businessman and politician Harry Akande is ranked as the world's seventh richest individual, according to the Nigerian Tribune.

Akande, who was unknown to most Nigerians two years ago, is a businessman and chairman of the Board of Trustees of the country's second largest political party, the All Peoples Party.

The others named as among the world's wealthiest 100 are businessman Akindele Fernandez, former military ruler Ibrahim Babaginda, the late military ruler Sani Abacha, late politician Moshood Abiola, and serving Senator Arthur Nzeribe.

Newspapers commented Tuesday that the men, or their relatives, were more than capable of paying off Nigeria's entire foreign debts put last week at $33.5 billion.

The Nigerian government last week won a debt rescheduling agreement covering $23.4 billion in debts.

According to The Punch: "European financial managers have always insisted the country could pay its debts because there are Nigerians who could pay the country's debts."