Political economist, Pat Utomi, has condemned the high poverty level in Nigeria, describing it as shameful.
He pointed out that Nigeria has more poor people than India, despite the latter having a population seven times larger.
Utomi shared his grievances at The New Tribe’ during a Global Village Square Town Hall meeting in Victoria Island, Lagos.
Utomi stated, “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.”
He highlighted the deterioration of values in Nigeria, attributing it to the country’s ongoing issues.
He emphasised the need for citizens to engage with the problems facing Nigeria and work towards solutions.
“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 pointed out the failing institutions in Nigeria, particularly in the justice sector, which he believes deter investors from coming to the country.
He noted, “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.”