This archive report was first published on 9 July 2019.
On July 9, 2019, a report by Oxfam and Development Finance International highlighted the stark inequalities in West Africa, where six of the ten fastest-growing economies in Africa were located.
Despite unprecedented economic growth over the past 20 years, the benefits of this growth have largely gone to a tiny few, leaving the vast majority of West Africans without access to quality education, healthcare, and decent jobs.
According to the report, the wealth of the five richest Nigerian men combined stands at $29.9 billion, more than the country's entire budget in 2017.
Adama Coulibaly, Oxfam's regional director, stated that governments in the region are exacerbating inequalities by underfunding public services and failing to tackle corruption.
The report called on governments to promote progressive taxation, boost social spending, strengthen labour market protection, invest in agriculture, and strengthen land rights for smallholders.
It also highlighted the estimated $9.6 billion in corporate tax incentives offered by governments to attract investors, which could be used to build around 100 modern and well-equipped hospitals annually.
While some countries, such as Cape Verde, Mauritania, and Senegal, are committed to reducing inequalities, others, like Nigeria, Niger, and Sierra Leone, are lagging behind.
