Professor Utomi reveals the state that can help Nigeria out of recession


Professor Utomi reveals the state that can help Nigeria out of recession: – Nigeria’s recession has almost endlessly continued to bite and some citizens of the country are proffering solutions

– One of such citizens, Professor Pat Utomi, has also spoken on a possible solution while revealing the Nigerian state that cannot be looked down on for a possible solution

Nigeria’s renowned economist and financial expert, Professor Pat Utomi, has said that Lagos state is a crucial catalyst if Nigeria’s economy is to witness a turn around for the better.

Utomi, who spoke at the executive/legislative retreat for members of the state executive council and lawmakers from the Senate, House of Representatives as well as the House of Assembly, said there were a lot of lessons to be learnt from the Lagos economy, which according to him, is largely driven by it’s huge investment in infrastructure, vibrant tax collection strategy and an enabling environment for businesses to thrive with less dependence on oil revenue.

Professor Pat Utomi says Lagos is very important in solving Nigeria’s recession

Utomi cited an example of when Comrade Adams Oshiomhole emerged as the Governor of Edo state and alluded to the fact that he needed to learn how Lagos was getting it right and then replicate same in Edo.

He said during a paper presentation: “The first thing he (Oshiomhole) did was to say he needed to learn how Lagos was getting it right.

“And he came over to Lagos with his core team to understudy the Lagos developmental model. And we can see how that worked well in Edo.”

According to him, several other states have also followed suit in emulating how the tax and internally generated revenue template works in Lagos and how the public service is structured in a way that there is good coordination.

Professor Utomi said the Lagos example should be prescribed for other states and for Nigeria as a whole, because according to him, the momentum would be good for the country, just as he canvassed for the south-west states to scale up it’s economic integration.

“This is why I have always advocated for a Lagos-Ibadan megalopolis. Lagos is already a mega city by virtue of its population, but a deliberate economic integration with other south-west states can produce even better results.

“This won’t be a new template. In fact it will be taking us back to the template of the old federal structure in a way, when the three regions had a healthy competitive spirit that brought about development,” he said.

The Senator representing Lagos East, Gbenga Ashafa, also commended Governor Akinwunmi Ambode for coming up with a platform where the executive and legislature meet to deliberate on issues affecting the people with the view to pull human and material resources together in the interest of the people.

Ashafa, who is the chairman of Senate committee on land transport, said he had been assured by Governor Ambode that the rail reform of Lagos is almost ready.

He also said that upon completion, the Light Rail of the State would bring serious dividends of democracy to the people, as well as employment, which in turn, would hasten Nigeria’s recovery from recession.

He commended the state for the way kidnappings had been handled which had always resulted in release of victims unhurt, saying that it was a sign that the state cannot be a haven for criminals.

Besides, Ashafa assured that the bill seeking one percent of revenue accruable to the federal government to be spent in Lagos would be represented at the Senate, adding that the passage would be pursued with every needed energy.


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