Political economist Pat Utomi has voiced strong criticism regarding the alarming levels of poverty in Nigeria, stating that the country should feel ashamed for having more impoverished individuals than India, despite India’s population being seven times larger.
Utomi expressed his concerns at “The New Tribe” during a Global Village Square Town Hall meeting held in Victoria Island, Lagos. He lamented, “This country of great potential, as we celebrate 64 years of independence, is still crawling. It has become the place of domicile for the poorest people on the planet. The Brookings study a few years ago showed how, in absolute numbers, there are more poor people in Nigeria than in India. That should make anybody feel ashamed. How? Explain to me how the richest can become the poorest.”
Highlighting the decline of cultural values in Nigeria, he attributed the nation’s challenges to a loss of moral integrity. “Fundamentally, progress is dependent on culture, on your values. And if you look at Nigeria, the one clear thing is the collapse of culture. The values have gone south. I mean, people don’t have a sense of shame anymore. Our political class is an embarrassment,” he remarked.
Utomi also addressed the deterioration of Nigeria’s institutions, particularly within the justice sector, which he believes is a significant barrier to attracting foreign investment. He stated, “The Nigerian judiciary is considered a joke around the world. Nobody takes it seriously. Investors don’t come to Nigeria because they say to you, ‘If I have a dispute with a partner in Nigeria, going to court is a waste of time. Complete waste of time.’ And so they go to a country where the returns can be less, but where at least they know some justice can be obtained from the courts.”
