Less than 60 people own Nigeria – Pat Utomi

Economics professor, Pat Utomi, says less than 60 people have been deciding Nigeria’s fortune since the Civil War.

According to Prof. Utomi, a few people hold within their grasp the power to determine events in the country.

Utomi said this at a public lecture organised by the Evangelical Christian Union Alumni Fellowship, the political economist claimed that “there has never really been an election in Nigeria”.

He complained that Nigeria’s politicians are “mentally ill-equipped,” noting that while Obafemi Awolowo was surrounded by intellectuals, his peers of today are “accompanied by pimps”.

“This ‘class of capture’ has inflicted an anti-intellectual culture on the country. The club of capture can be grouped into three categories. The first is the moderniser wannabes. The value system of this category sabotaged their desire. The second are the narcissistic influencers, who are so consumed by their self-love,” he said.

“These people are contented with whoever is in power so far they can appoint the oil minister and others. The last are the entitlement-minded ones. Nigeria has become the entitlement of the last category.

“When those in the club of capture lose legitimacy, they look for ways to circumnavigate. They look for weak persons to push into positions of authorities so they don’t lose their grip on power. Nigeria has suffered from power capture for 51 years. Less than 60 persons have been deciding our fortunes for the past 51 years.”