The dawn of the industrial revolution led to a great increase in global economy with the past few decades witnessing an astronomical increase. However, the disparity in per capita GDP between the richest and poorest nations and the richest and poorest people has more than widened within the past decade. The Oxfam 2015 report highlights that the bottom half of the world population – about 3.5 billion people – accounts for about $1.7 trillion, or about 0.7% of the world’s wealth. This amount represents the wealth attributed to the world’s 85 richest people. It is estimated that by next year, 2016, 1% of world population will control more than half of the world’s wealth as against the remaining 99% controlling less than 50%. This trend does not portend good for the society. Studies have shown that one of the major causes of revolutions apart from religion and politics is economic inequality. Government exists to protect the interest and welfare of the people especially the marginalized. If this huge number of the world’s poor could be empowered financially, the multiplier effects of their consumption will hugely increase global economy. This paper calls for the Nigerian government to be sensitive to the issue of income inequality and poverty reduction so as to minimize the tension and the usual fall outs of extreme poverty in the country.
 

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