Professor Pat Utomi, a well-known political economist, has strongly criticized the Nigerian government’s current economic direction. He said that focusing too much on collecting revenue is not helping the economy grow.
During an interview on Politics Today aired on Channels Television, Utomi explained that the government is spending too much money on political matters instead of putting funds into useful areas like farming and factories.
According to Utomi, most of the money is going to people in power who don’t create value. He believes the government should put that money into boosting food production and building industries around agriculture.
He also pointed out that the government’s aggressive push for more revenue is hurting business owners. He mentioned that traders and those who import medicines are being forced out of the market due to high fees at the ports.
Utomi gave an example, saying each shipping container now costs around ₦18 million due to the government’s desperate need for money. This makes it hard for pharmaceutical importers to make a profit, especially on drugs like anti-malarials.
He warned that although the government says it is making more money, ordinary Nigerians are still suffering. Utomi added that using rising revenue numbers to claim economic progress shows a poor understanding of economics.
He also rejected government claims that the economy is recovering. Utomi said that just because the naira is a little more stable doesn’t mean things are better if people still can’t afford basic goods due to inflation.
Using a strong example, he asked, “If you go from hell to purgatory, are you really saved?” His point was that improvement should mean real changes in people’s lives, not just better numbers.
Utomi stressed that making sure people can afford food is the most important thing. He called on the government to put more money into farming, education, and healthcare if they truly want to grow the economy and help Nigerians live better lives.
These comments came just after new data showed Nigeria’s GDP grew by 3.13% in the first quarter of 2025. But Utomi said this growth means little if most Nigerians are still struggling to survive.
