Utomi Warns FG’s Revenue Obsession Is Hurting Nigerians, Stifling Growth

Abuja, Nigeria – August 2–3, 2025

Distinguished economist and public affairs commentator Prof. Pat Utomi has sharply rebuked the Federal Government’s escalating focus on aggressive revenue generation, warning that it is undermining businesses and deepening hardship among ordinary Nigerians.

Utomi made these remarks during a recent appearance on Channels Television’s Politics Today, and in follow-up interviews with media outlets such as ThisDay and BusinessDay. He criticised the government for prioritising revenue extraction over productive investment.

A Misplaced Economic Prioritization

Utomi argued government funding is disproportionately allocated to non‑productive sectors, particularly the political class, at the expense of agriculture, healthcare, and education—areas with real potential to drive growth and employment.
He described the federal revenue drive—marked by excessive port charges, import tariffs, and container levies (some containers reportedly taxed up to ₦18 million)—as counterproductive and crippling to traders and importers, especially pharmaceutical businesses operating on thin margins.

“If You’re From Hell to Purgatory…”

Utomi challenged official narratives of economic recovery—pointing out that slight currency stabilization or GDP growth means little when inflation continues to erode the standard of living:

“If you are from hell to purgatory, have you been saved from damnation?” he asked, emphasizing that food affordability and job creation remain the true measures of progress.

Economic Loss Without Sustainable Gains

While government revenues may be rising, Utomi noted these gains are being squandered by elites, leaving the populace in deeper poverty and insecurity. He insisted this revenue fixation signals mismanagement, not economic recovery.
Further, he dismissed short-term borrowing to prop up the naira as futile, arguing such loans offer only temporary relief while fundamental issues—like a lack of domestic production—go unaddressed.

A Call for Production-Driven Strategy

Utomi urged the government to redirect resources toward food production and value‑chain development, especially through agricultural investment. This includes supporting farmers, improving logistics, and encouraging export-driven industries.
He stressed Nigeria’s development depended on production—not just revenue collection—and highlighted the need for regional industrial clusters leveraging local comparative advantages.
Additionally, he called for investments in education, healthcare, and social services, while advocating for transparent fiscal policies tied to public benefit.