OpEd: The Case Against Nigeria's Big Philanthropy Industrial Complex (NBPIC) By Ahmed Olayinka Sule, CFA | Sahara Reporters Wealth and poverty is the central paradox of modern-day Nigeria. On the one hand, Nigeria is home to the... READ MORE:
In response to the Coronavirus pandemic, some of Nigeria's top billionaires made significant contributions in the fight against COVID-19. Aliko Dangote donated N2bn while Mike Adenuga donated N3bn. Femi Otedola, Folorunsho Alakija, Tony Elumelu, Jim Ovia and Oba Otudeko donated N1bn each. The CEOs of Access Bank and Guaranty Trust Bank gave N1bn each.
Nigeria's Big Philanthropy Industrial Complex has a place in Nigeria. It can help soothe some of the issues the country faces, and it can complement government's efforts to alleviate poverty. Some commentators suggest it satisfies human needs, improves problem-solving skills and helps build robust networks. Notwithstanding its supposed benefits, Big Philanthropy covers a multitude of sins and is insufficient to resolve Nigeria's structural challenges.
Though NBPIC might be united in its desire to give back to society, yet it has little or nothing to say about its members giving up their privileges and restructuring the economic and political system, which currently works for the fortunate few, and not the unfortunate many.
There needs to be a redistribution of wealth for Nigeria to work for the many. However, the government is in denial of the scale of inequality in the country while the philanthrocapitalists and philantroligarchs are unwilling to give up their privileges.
In the build-up to the 2019 General Election, President Buhari named Aliko Dangote and Femi Otedola as advisers to his re-election campaign. With the close linkage between the elites and government officials, it shouldn't be surprising to understand the government's inability to reform the system for the benefit of the marginalised.
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