Utomi targets cost of governance amid economic pressure
Professor of political economy, Pat Utomi, has said he would drastically reduce the cost of governance if elected president of Nigeria, arguing that the current system places too much burden on citizens facing economic hardship.
Utomi made the statement during an interview on Channels Television’s Sunday Politics while commenting on the state of the nation and the country’s economic direction.
‘Government is too expensive to run’
According to him, it makes little sense for government spending to continue rising while the majority of Nigerians struggle with the cost of living.
“I will still dramatically slice the cost of governing in Nigeria; it is way too high,” Utomi said, adding that reducing waste would be central to his leadership approach.
Focus on production, not consumption
Utomi said his administration would prioritise policies that stimulate local production, noting that Nigeria is not doing enough to grow its productive capacity.
He explained that industry-focused policies would be used to drive economic activity, create jobs and reduce dependence on imports.
Tax reforms will remain, Utomi says
The political economist said he would not remove existing tax reforms, describing them as necessary for economic stability, but insisted they must be managed differently.
“I’m not going to remove tax reforms. They are important. We need them, but I’m going to make sure that they are not revenues for people to spend,” he said.
Push for constitutional and budget reforms
Utomi also called for constitutional reforms to limit government spending and promote fiscal discipline, stressing the need for a balanced budget.
“Those kinds of money you raise, we need a balanced budget. All of those are the issues we need to bring into consideration,” he said.
