To use revenue as evidence of progress is not to understand economics, it’s crippling the economy – Pat Utomi slams FG
Professor of Political Economy, Pat Utomi, has criticized the federal government’s economic strategy, warning that its revenue-driven approach is crippling Nigeria’s productive capacity.
Speaking on Channels Television’s Politics Today, Utomi argued that government resources are being misallocated to non-productive sectors, particularly the political class, instead of critical growth areas like agriculture and manufacturing.
He noted that excessive charges at the ports, driven by the government’s “desperation for revenue,” are forcing businesses, including pharmaceutical importers, out of the market. According to him, containers are being cleared at about ₦18 million, making it impossible for traders to restock essential drugs like anti-malarials.
Utomi dismissed claims of economic recovery, saying marginal naira stability means little amid soaring inflation and widespread hardship. “To use revenue as evidence of progress is not to understand economics,” he said, stressing that true progress should be measured by improved living conditions.
He called for urgent investment in agriculture, education, and healthcare, warning that rising food insecurity could lead to social unrest. His comments come despite recent NBS data showing a 3.13% GDP growth in Q1 2025, which Utomi said does not reflect the reality for most Nigerians.
