25th April 2026, NewsOrient, Lecture, Governance And Development, Law And Society, Business And Economy, News.
Photo: Governor Alex Chioma Otti of Abia State delivering the 2026 TheNiche Annual Lecture at the Nigerian Institute of International Affairs, Lagos on Thursday, April 23, 2026, entitled:
Governing The Economy: Choices, Trade-Offs And National Priorities

The foundation of economic governance, defined succinctly as the capacity and efficiency of institutions at developing rules, processes and systems that mitigate abuses, is firmed on political choices and behaviours. It is impossible to separate incompetent political leadership from the manifestations of economic decline such as drastic tanking of the size of the gross domestic product (GDP), widespread unemployment, reduced investment appetite and all such developments that ultimately lead to high poverty levels and endemic anxiety within the community. Political opportunism, populism and parochial disposition of leaders are cancerous to economic development and have been known to ruin several economies around the world… In a political system driven by mercantilism, desperation for power and corruption across multiple nodes in the value chain, things are bound to go from bad to worse because no system has endless supply of resources to feed the bottomless greed of political actors, including voters who see votes as wares for sale to the highest bidder. If we treat election seasons as bazaars, a time to extract and squeeze whatever we can out of the system, it becomes inevitable that the primary pursuit of those who win elections would not be to serve the community, but to recoup what has been invested and stack up resources for the next round of polls… As I had earlier mentioned, poverty and prosperity, employment and joblessness, security and anxiety, prudence and rascality will all be on the ballot in 2027. The nation and our different states and constituencies will go in whatever direction we choose; it is as simple as that. My only prayer is that efforts be made to properly educate the public on these options so they can make their choices with the benefit of full information. The truth, however, is that a choice must be made in about nine months, albeit a political one, but the implication of our decision on the economy will be far-reaching.

1. There is no silver bullet for solving Nigeria’s myriads of economic challenges because economics is about cold, hard facts, not vanities. With high level of unemployment, especially amongst the youth population, rising incidence of poverty and growing sense of helplessness amongst our compatriots, it would be uncharitable to wish these unsettling realities away or imagine that waving a certain magic wand would make them go away in the twinkle of an eye. No, the issues are foundational so there is no accommodation for quick fixes. However, I refuse to submit to the position of cynics who insist that our situation is entirely hopeless because it is not. Even then, I would also not take the overly optimistic view that a turnaround is imminent because that could be misleading. It is imperative to look beyond the lure of economic expediency and courageously make the tough decisions that would ultimately get us out of the woods and into enduring prosperity.

1. Our country has a great destiny and its future will certainly remain bright. Even then, the world cannot afford to wait in perpetuity for Nigeria to begin to play to its full strength. Quietly, it has moved on, hoping that someday, our country may catch up but whether that day would be in this decade or in the coming century, or perhaps never, will depend largely on what we do in the days and years that follow. If we have learnt anything from the frustrations of the last six decades, it is the truth that there is a direct correlation between political choices and the daily experiences of the population. While I would not be overly simplistic to suggest that one good leader would make all our problems disappear, in fact that thinking may be at the heart of our present challenges, it is, however, beyond argument that a good leadership system across board, one that understands the dynamic laws of economics and the intersection of political behaviour and public welfare, would certainly go a long way in taking us closer to our dream Nigeria. This morning, we have gathered to reason as patriots, united by a common vision for this potentially-great country and entirely committed to the glory of its promises. It is not all gloom and doom but true progress cannot run on self-deceit; this is not the country our parents envisioned on Independence eve in 1960. For the remainder of my time on this podium, I shall be sharing my thoughts on the tough choices, trade-offs and pathways to achieving the national objective of enduring, people-centred development.
2. Let me at this auspicious moment, appreciate most respectfully, the management and decision-makers at ACCLAIM COMMUNICATIONS LIMITED, publishers of the TheNiche newspaper, for putting this event together and the thoughtfulness that went into the theme selection. Special gratitude is due to the Managing Director/Editor-in-Chief of the publication, Ikechukwu Amaechi, for his continuing service to our nation and for committing everything at his disposal, especially his intellect and passion, to noble causes and ideas.
3. TheNiche Annual Lecture Series represent a bold attempt at reminding us, the Nigerian people, of who we could become only if we are determined to pay the price required to transform potential to reality. I am glad that not minding our litany of missed opportunities, many of us are refusing to give up on the promises that this great country holds. On this note, distinguished ladies and gentlemen, permit me to acknowledge with great reverence and honour, Their Royal Majesties, Khalifa Muhammadu Sanusi II, CON, Emir of Kano, and Igwe Alfred Nnaemeka Achebe (Agbogidi), CFR, Obi of Onitsha, who have graciously joined us as Chairman and Royal Father of today’s event respectively. The 2 royal fathers in our midst, accomplished professionals and portraits of grace and dignity, embody the greatness and eternal acclaim of our heritage. Their presence at this auditorium points to the seriousness of today’s event and serves a poignant reminder to all of us that there is a growing hunger across demographics to redirect our national trajectory. I thank our distinguished royal fathers for their abiding commitment to a Nigeria that works for all people. Commendations are also due to all patriotic Nigerians who have gathered from all walks of life to listen and share important ideas on how to improve the economic and social realities of our people. I am optimistic that at the end of today’s interactions, all of us would go home with a few things to reflect and act upon, especially as political debates return to the front burner.
4. I will never stop talking about the critical connection between politics and the economy, how politics drives critical economic outcomes and why none of us can afford the luxury of political indifference. Understandably, a lot of people are disillusioned by the disappointments of the years past but again, the irrefutable truth is that things would continue to deteriorate if we insist on staying away from the field of play. The importance of participating in the political process has little to do with convenience or comfort, it is rather a patriotic duty to our fatherland that we can no longer shy away from. You cannot claim to love Nigeria or your state or the city where you reside and yet remain aloof in critical matters such as leadership selection and the debates around it. Political processes and decisions require the collective input of every adult member of the society for they are the ultimate determinants of our social and economic destinies. Yes, for the average person, the independent non-partisan, political participation begins and ends at the polling unit, it is entirely about who wins or loses at the ballots. Unfortunately, it goes beyond that; the orientation of active citizenship demands that we dig deeper to know about the candidates and the political parties they represent, their economic philosophies and just about every small piece of information that would help in shaping our decisions.
5. The entire idea of active citizenship is demanding but a small price to pay when compared to the long-term misery that attend indifference. The crisis of unemployment, poverty and the collapse of institutions cannot be separated from citizens’ disinterest in the political affairs of their communities. While voting in election is critical, political participation, however, is far beyond what happens at the quiet cubicle where the final decision to go with party A over party B is made; it is about the vigilance to keep the victors on their toes through legitimate channels of engagement. Unfortunately, majority of us do not even see the need to cast our ballots. It is therefore not surprising that voter turnout over the last 5 general elections has fallen from 57% in 2011 to less than 30% in 2023. As stakeholders in the Nigerian project, we ought to be worried that majority of our compatriots are increasingly shying away from participation at the ballots. This may be a good time to reconsider our attitude to the electoral process because so much, including our economic security and prosperity, is hinged on it.
6. I am aware that many of us are already struggling to establish the connection between my treatise on political participation and economic governance; my response as already indicated is: everything. What we have simply done in the last few minutes is to sharpen our understanding of the philosophy of shared responsibility in the business of national development. To now turn our attention to the subject of today’s discourse, Economic Governance: Choices, Trade-offs and National Priorities, I would begin by saying that the foundation of economic governance, defined succinctly as the capacity and efficiency of institutions at developing rules, processes and systems that mitigate abuses, is firmed on political choices and behaviours. It is impossible to separate incompetent political leadership from the manifestations of economic decline such as drastic tanking of the size of the gross domestic product (GDP), widespread unemployment, reduced investment appetite and all such developments that ultimately lead to high poverty levels and endemic anxiety within the community. Political opportunism, populism and parochial disposition of leaders are cancerous to economic development and have been known to ruin several economies around the world. As has been said many times in the past, economics does not respond to emotions or sentiments, it is guided by thoughtful decisions and the judgement of those who wield the instruments of power. It is therefore impossible to achieve accelerated economic development when those who sit at the decision-making table are ignorant of economic laws and dynamics. Perhaps we need to say it one more time that the foundation of economic governance is built on the decisions made by those who pull the levers of power; ultimately, the outcome of their choices impact our daily experiences. In a political system driven by mercantilism, desperation for power and corruption across multiple nodes in the value chain, things are bound to go from bad to worse because no system has endless supply of resources to feed the bottomless greed of political actors, including voters who see votes as wares for sale to the highest bidder. If we treat election seasons as bazaars, a time to extract and squeeze whatever we can out of the system, it becomes inevitable that the primary pursuit of those who win elections would not be to serve the community, but to recoup what has been invested and stack up resources for the next round of polls.
7. It may be tough to accept but strong and resilient institutions cannot be built on the back of a corrupt political culture, one that favours just about anyone with a deep wallet to buy voters, electoral officials, media practitioners and the instruments of violence. We saw the devastations of desperate politicking firsthand in Abia in 2015 when the votes were decided, not at the polling units but by some underhand deals that eventually set the State on a difficult trajectory. In the end, everything went downhill; it got so bad that basic social services like urban waste management and maintenance of public infrastructure were abandoned. Thousands of families lost their breadwinners as the party that stole the mandate of the people enacted an unofficial policy to deny workers and retirees their entitlements. In the 8 years that followed, entrepreneurs suffered severe losses as social services collapsed and when they could no longer afford to live with the nightmare, they quietly packed their bags, those who found buyers sold their property, and then bid their good byes. Abia, I can say with every sense of conviction, is proof that economics cannot be separated from politics. Within Nigeria and around the world, evidence abound that it is nigh-impossible to build a robust economy on the foundation of political corruption; reckless leaders don’t build strong institutions and those who win elections by dishonest means cannot abide by the demands of ethics and prudence while in office. The question for all of us is: how does our political choices align with our economic expectations?
8. I am often asked what we have done differently in Abia and my response is often simple: changing the behaviour of the political leadership. The investors are not returning to Aba because everything has suddenly turned perfect; no, they are coming back because they have seen a clear difference in the disposition of the current leadership. The institutions are becoming more responsive, not because we hired angels to run them; things are changing at the ministries, departments and agencies for the simple reason that we entrusted leadership to individuals who understand what it means to lead with a clear service-orientation — men and women who appreciate the principles of stewardship. In Abia, we have not only restored the faith of our people in government, we have effectively demonstrated that agencies of government can be alive to their responsibilities — that political office holders are actually servants of the people, not their masters. With the streets of our urban centres cleaner than they have ever been, consistency in the execution and delivery of large-scale capital projects and an unyielding commitment to the security of lives and property, it is easy to understand why old businesses are returning, even as new enterprises open in record numbers across our State.
9. The modest gains we have recorded in Abia is down to a new orientation to public sector leadership. Abians since 2015 rejected the old political culture of elite compromises. They were undeterred by the disappointments of 2015 and 2019 but remained resolute in their conviction that once we get it right politically, everything else would fall in place. The events of the last 35 months have simply proved that they understood something that some of us may need to pay great attention to: politics, when done right, expands the sea of economic opportunities for everyone, builds confidence and sets the community free from the agony of destitution and helplessness. The interesting thing is that once the fundamentals are in place, you may not have to wait for ages to see the manifestation of progress in the daily experiences of the population; it is about the small changes that eventually aggregate to great things, schools that actively educate the young and prepare them for the opportunities of the future, businesses that make profit and employ the products of our schools and vocational centres, hospitals that attend to the sick, support the health and wellbeing of the population, roads that fast-track the movement of people and goods, farms that feed the population and an economy that supports the hard work of its population, inspires dreams and drives innovation. Again, these are no abstract ideas, in fact, they are fundamental to the growth and development that we seek.
10. It would help to note that in contemporary economic interpretation, development goes beyond growth in nominal GDP, it is about the experiences of the population, the expansion of employment opportunities, consistent assault on the menace of poverty and measures at cutting extreme inequalities, driving inclusiveness and leaving no one behind. It is, therefore, not just enough to expend resources on the development of physical infrastructure; the expected social and economic returns have to be estimated in advance to determine the medium to long term benefits of such investments vis-à-vis other competing demands. The same applies to social welfare programmes that prioritise cash handouts or the distribution of food items to poor households. The question of returns and sustainability has to be asked: does it actually make long-term economic sense to commit humongous sums to short term consumption, what if such funds are directed transparently to investments in agriculture, power or public works so as to create real employment for the poor? This is about teaching the hungry to bake their own bread instead of the tokensim of receiving a small loaf every now and again. A productive alternative to economic handouts not only yields superior, long term economic benefits; it preserves the dignity of the beneficiaries. Another area of concern is the size of public resources wasted on abandoned projects — infrastructure initiatives that are discontinued just because the administration that initiated them is out of office, even when such projects are clearly viable or on the verge of completion. How can genuine progress be made when governance is personality-driven? The bottom line is that there are multiple channels of wastages that have to be closed and the savings arising therefrom directed more prudently.
11. Development is impossible without a proper sense of stewardship amongst those in leadership positions — the understanding that what is entrusted in our care does not automatically become private possessions but talents that will be diligently accounted for in due time. Unfortunately, many of us in public offices are yet to acquire the discipline to separate personal interests from public aspirations; oftentimes it is about our ego and considerations that are unconnected to the expectations of those we are called to serve. The summary of my thought on economic development is that it has to be people-focused, touching directly on the parameters that have express bearing on our daily experiences as citizens and economic agents. In Nigeria, our national development pursuits should capture efforts at the revival and optimisation of dormant factor assets, especially our large expanse of arable land, the intellect and creative energy of our young population and new cross-border opportunities that technology have opened to us.
12. Several nations of the world are doing better than us on multiple fronts, not because they are better endowed, but for the simple reason that they have consistently made better political and economic choices than we have done. Democracy remains the best vehicle for inclusive growth and development but perhaps the time has now come to evaluate how ignorance amongst the voting public, weak internal governance mechanism within the party hierarchy and the near-absence of clarity in the disposition of critical state institutions can hamper the delivery of the full promises of democratic governance. Policy inconsistency amongst political leadership remains a major albatross in our polity and you can link it to the weakness of our institutions and the growing culture of populist opportunism. This year holds a lot of importance to what will happen to our country and the states in the decades to follow because we are on the eve of another major election. This is the best time to take civic education seriously; the citizens must know what issues will be determined at the ballot next year and how all of it is tied to our future. As I had earlier mentioned, poverty and prosperity, employment and joblessness, security and anxiety, prudence and rascality will all be on the ballot in 2027. The nation and our different states and constituencies will go in whatever direction we choose; it is as simple as that. My only prayer is that efforts be made to properly educate the public on these options so they can make their choices with the benefit of full information. The truth, however, is that a choice must be made in about nine months, albeit a political one, but the implication of our decision on the economy will be far-reaching. As I said during a TV interview in 2022, foreign and domestic investors can know from the result of an election, where to put their money. Investments are not attracted by endless foreign trips and media promotions but by the signals we transmit through the choices we make at the ballots. Sustainable job creation, improved factor utilisation and higher household earnings have their roots in the quality and quantity of investments that are attracted to a community per time.
13. To take the population out of the misery of unemployment and the indignity of poverty, two development indicators that are of express importance to majority of our people, certain trade-offs must be made because once you eat your cake, you cannot have it back, at least not immediately. Cutting our appetites for foreign goods and travels would be a good place to start but that would only be foundational. Evaluating the impact of social welfare expenditure vis-à-vis expected benefits from direct investments in productive ventures should follow quickly. The next consideration in this regard relates to the development of a holistic template to guide project conception, funding and delivery. The idea is that no project should be initiated if there are no clear provisions for full term funding, even after the lifespan of the administration that initiated it. It also follows that no similar project shall be introduced unless those earlier initiated are delivered, especially when there are no structural or legal impediments.
14. Progress requires collective sacrifices from all stakeholder groups. At any rate, sacrifices in themselves are never enough, there must be clear goals and expectations; the public must know that their sacrifices will amount to something in the long-run, not self-punishment. If public expenditure decisions are made to draw resources away from social welfare programmes and push them to infrastructure development for example, the public must begin to see efforts in that regard immediately. Important questions about long term benefits must also be answered. It helps to communicate all of these through regular stakeholder engagements to clear ambiguities and build confidence. Above all, the leaders must be at the forefront when it comes to making sacrifices in order to bolster trust. The sincerity of officials within the leadership hierarchy must never be in doubt; when a decision on cutting down recurrent expenditure is made, all public spending related to the acquisition of luxurious vehicles, lavish state dinners and self-serving overseas trips must be frozen immediately. The message for all of us is that our people respond more to what we do, not what we say. Economic growth certainly requires trade-offs like putting more resources into capital projects and less to recurrent expenditure, higher investments in education and health over white elephant projects and prioritising public security over political patronage. However, before announcing a freeze on wage hike, those who sit at the decision-making table are also obliged to resist the temptation to pad their allowances or allocate higher perks to themselves as that would be a tragic violation of trust.
    15. Since we assumed office in 2023, a central motor vehicle management policy was adopted to fix as many abandoned vehicles as can be fixed, invest more resources in the acquisition of locally-made vehicles and drastically cut down the number of functionaries entitled to official vehicles. We also looked deeper into the nominal roll to identify possible channels of malpractices; it was not long before we discovered thousands of ghost workers and other evidence of malpractices within the system. We have since dealt with those using technology tools and new evaluation processes that saved the State reasonable sums of money. We have also expanded our independent revenue base by more than 300% in the last 35 months through engagements with different economic groups and of course, the introduction of ICT tools in revenue mapping, mobilisation and remittances. However, the main reason we have done better at internal revenue mobilisation is that our people can see where their money is going to; they clearly understand our philosophy of governance as partnership between the government and the people. The lesson here is that citizens are much more sensitive than we appreciate, their response to government policies and programmes is tied to their everyday experiences. Fixing our economic governance template requires sending the right kind of signal — one that assures the people that the pains of the reforms would lead to enduring economic freedom for everyone in the fullness of time.
15. Beyond getting it right with political behaviour, our priority has been firmed on efforts at cutting multiple productivity barriers across economic frontlines. To address infrastructure gaps, our next focus was on power and public transportation. It has to be made clear that small and medium sized generators, or generators of any size at that, cannot sustainably support our giant economic dreams. Latching on my previous encounter with Geometric power in Aba, we worked with the company to generate, transmit and distribute power to Aba and environs. Having achieved that, we are now working on getting reliable power to the rest of the state. I am glad that the energy sector is now liberalised to accommodate participation by the states. Abia is already taking advantage of this new window of opportunity to the fullest. We have already started an energy sector partnership framework where government lends its weight to de-risk initial outlays by independent investors but operations and governance must remain in the hands of the private sector for efficiency and transparency while regulation resides with the state.

BEING THE FULL TEXT OF 2026 THENICHE LECTURE: Governing the economy: Choices, trade-offs and national priorities delivered by Dr. Alex Chioma Otti at the Nigerian Institute of International Affairs, Lagos on Thursday, April 23

Governing the economy: Choices, trade-offs and national priorities – The foundation of economic governance, defined succinctly as the capacity and efficiency of institutions at developing rules, processes and systems that mitigate abuses, is firmed on political choices and behaviours.

It is impossible to separate incompetent political leadership from the manifestations of economic decline such as drastic tanking of the size of the gross domestic product (GDP), widespread unemployment, reduced investment appetite and all such developments that ultimately lead to high poverty levels and endemic anxiety within the community.

Political opportunism, populism and parochial disposition of leaders are cancerous to economic development and have been known to ruin several economies around the world… In a political system driven by mercantilism, desperation for power and corruption across multiple nodes in the value chain, things are bound to go from bad to worse because no system has endless supply of resources to feed the bottomless greed of political actors, including voters who see votes as wares for sale to the highest bidder.

If we treat election seasons as bazaars, a time to extract and squeeze whatever we can out of the system, it becomes inevitable that the primary pursuit of those who win elections would not be to serve the community, but to recoup what has been invested and stack up resources for the next round of polls…

As I had earlier mentioned, poverty and prosperity, employment and joblessness, security and anxiety, prudence and rascality will all be on the ballot in 2027.

The nation and our different states and constituencies will go in whatever direction we choose; it is as simple as that.

My only prayer is that efforts be made to properly educate the public on these options so they can make their choices with the benefit of full information.

The truth, however, is that a choice must be made in about nine months, albeit a political one, but the implication of our decision on the economy will be far-reaching.

Governing the economy: Choices, trade-offs and national priorities.
Full Text By Dr Alex Chioma Otti

Protocol

1. There is no silver bullet for solving Nigeria’s myriads of economic challenges because economics is about cold, hard facts, not vanities. With high level of unemployment, especially amongst the youth population, rising incidence of poverty and growing sense of helplessness amongst our compatriots, it would be uncharitable to wish these unsettling realities away or imagine that waving a certain magic wand would make them go away in the twinkle of an eye. No, the issues are foundational so there is no accommodation for quick fixes. However, I refuse to submit to the position of cynics who insist that our situation is entirely hopeless because it is not. Even then, I would also not take the overly optimistic view that a turnaround is imminent because that could be misleading. It is imperative to look beyond the lure of economic expediency and courageously make the tough decisions that would ultimately get us out of the woods and into enduring prosperity.
2. Our country has a great destiny and its future will certainly remain bright. Even then, the world cannot afford to wait in perpetuity for Nigeria to begin to play to its full strength. Quietly, it has moved on, hoping that someday, our country may catch up but whether that day would be in this decade or in the coming century, or perhaps never, will depend largely on what we do in the days and years that follow. If we have learnt anything from the frustrations of the last six decades, it is the truth that there is a direct correlation between political choices and the daily experiences of the population. While I would not be overly simplistic to suggest that one good leader would make all our problems disappear, in fact that thinking may be at the heart of our present challenges, it is, however, beyond argument that a good leadership system across board, one that understands the dynamic laws of economics and the intersection of political behaviour and public welfare, would certainly go a long way in taking us closer to our dream Nigeria. This morning, we have gathered to reason as patriots, united by a common vision for this potentially-great country and entirely committed to the glory of its promises. It is not all gloom and doom but true progress cannot run on self-deceit; this is not the country our parents envisioned on Independence eve in 1960. For the remainder of my time on this podium, I shall be sharing my thoughts on the tough choices, trade-offs and pathways to achieving the national objective of enduring, people-centred development.
3. Let me at this auspicious moment, appreciate most respectfully, the management and decision-makers at ACCLAIM COMMUNICATIONS LIMITED, publishers of the TheNiche newspaper, for putting this event together and the thoughtfulness that went into the theme selection. Special gratitude is due to the Managing Director/Editor-in-Chief of the publication, Ikechukwu Amaechi, for his continuing service to our nation and for committing everything at his disposal, especially his intellect and passion, to noble causes and ideas. TheNiche Annual Lecture Series represent a bold attempt at reminding us, the Nigerian people, of who we could become only if we are determined to pay the price required to transform potential to reality. I am glad that not minding our litany of missed opportunities, many of us are refusing to give up on the promises that this great country holds. On this note, distinguished ladies and gentlemen, permit me to acknowledge with great reverence and honour, Their Royal Majesties, Khalifa Muhammadu Sanusi II, CON, Emir of Kano, and Igwe Alfred Nnaemeka Achebe (Agbogidi), CFR, Obi of Onitsha, who have graciously joined us as Chairman and Royal Father of today’s event respectively. The 2 royal fathers in our midst, accomplished professionals and portraits of grace and dignity, embody the greatness and eternal acclaim of our heritage. Their presence at this auditorium points to the seriousness of today’s event and serves a poignant reminder to all of us that there is a growing hunger across demographics to redirect our national trajectory. I thank our distinguished royal fathers for their abiding commitment to a Nigeria that works for all people. Commendations are also due to all patriotic Nigerians who have gathered from all walks of life to listen and share important ideas on how to improve the economic and social realities of our people. I am optimistic that at the end of today’s interactions, all of us would go home with a few things to reflect and act upon, especially as political debates return to the front burner.
4. I will never stop talking about the critical connection between politics and the economy, how politics drives critical economic outcomes and why none of us can afford the luxury of political indifference. Understandably, a lot of people are disillusioned by the disappointments of the years past but again, the irrefutable truth is that things would continue to deteriorate if we insist on staying away from the field of play. The importance of participating in the political process has little to do with convenience or comfort, it is rather a patriotic duty to our fatherland that we can no longer shy away from. You cannot claim to love Nigeria or your state or the city where you reside and yet remain aloof in critical matters such as leadership selection and the debates around it. Political processes and decisions require the collective input of every adult member of the society for they are the ultimate determinants of our social and economic destinies. Yes, for the average person, the independent non-partisan, political participation begins and ends at the polling unit, it is entirely about who wins or loses at the ballots. Unfortunately, it goes beyond that; the orientation of active citizenship demands that we dig deeper to know about the candidates and the political parties they represent, their economic philosophies and just about every small piece of information that would help in shaping our decisions.
5. The entire idea of active citizenship is demanding but a small price to pay when compared to the long-term misery that attend indifference. The crisis of unemployment, poverty and the collapse of institutions cannot be separated from citizens’ disinterest in the political affairs of their communities. While voting in election is critical, political participation, however, is far beyond what happens at the quiet cubicle where the final decision to go with party A over party B is made; it is about the vigilance to keep the victors on their toes through legitimate channels of engagement. Unfortunately, majority of us do not even see the need to cast our ballots. It is therefore not surprising that voter turnout over the last 5 general elections has fallen from 57% in 2011 to less than 30% in 2023. As stakeholders in the Nigerian project, we ought to be worried that majority of our compatriots are increasingly shying away from participation at the ballots. This may be a good time to reconsider our attitude to the electoral process because so much, including our economic security and prosperity, is hinged on it.
6. I am aware that many of us are already struggling to establish the connection between my treatise on political participation and economic governance; my response as already indicated is: everything. What we have simply done in the last few minutes is to sharpen our understanding of the philosophy of shared responsibility in the business of national development. To now turn our attention to the subject of today’s discourse, Economic Governance: Choices, Trade-offs and National Priorities, I would begin by saying that the foundation of economic governance, defined succinctly as the capacity and efficiency of institutions at developing rules, processes and systems that mitigate abuses, is firmed on political choices and behaviours. It is impossible to separate incompetent political leadership from the manifestations of economic decline such as drastic tanking of the size of the gross domestic product (GDP), widespread unemployment, reduced investment appetite and all such developments that ultimately lead to high poverty levels and endemic anxiety within the community. Political opportunism, populism and parochial disposition of leaders are cancerous to economic development and have been known to ruin several economies around the world. As has been said many times in the past, economics does not respond to emotions or sentiments, it is guided by thoughtful decisions and the judgement of those who wield the instruments of power. It is therefore impossible to achieve accelerated economic development when those who sit at the decision-making table are ignorant of economic laws and dynamics. Perhaps we need to say it one more time that the foundation of economic governance is built on the decisions made by those who pull the levers of power; ultimately, the outcome of their choices impact our daily experiences. In a political system driven by mercantilism, desperation for power and corruption across multiple nodes in the value chain, things are bound to go from bad to worse because no system has endless supply of resources to feed the bottomless greed of political actors, including voters who see votes as wares for sale to the highest bidder. If we treat election seasons as bazaars, a time to extract and squeeze whatever we can out of the system, it becomes inevitable that the primary pursuit of those who win elections would not be to serve the community, but to recoup what has been invested and stack up resources for the next round of polls.
7. It may be tough to accept but strong and resilient institutions cannot be built on the back of a corrupt political culture, one that favours just about anyone with a deep wallet to buy voters, electoral officials, media practitioners and the instruments of violence. We saw the devastations of desperate politicking firsthand in Abia in 2015 when the votes were decided, not at the polling units but by some underhand deals that eventually set the State on a difficult trajectory. In the end, everything went downhill; it got so bad that basic social services like urban waste management and maintenance of public infrastructure were abandoned. Thousands of families lost their breadwinners as the party that stole the mandate of the people enacted an unofficial policy to deny workers and retirees their entitlements. In the 8 years that followed, entrepreneurs suffered severe losses as social services collapsed and when they could no longer afford to live with the nightmare, they quietly packed their bags, those who found buyers sold their property, and then bid their good byes. Abia, I can say with every sense of conviction, is proof that economics cannot be separated from politics. Within Nigeria and around the world, evidence abound that it is nigh-impossible to build a robust economy on the foundation of political corruption; reckless leaders don’t build strong institutions and those who win elections by dishonest means cannot abide by the demands of ethics and prudence while in office. The question for all of us is: how does our political choices align with our economic expectations?
8. I am often asked what we have done differently in Abia and my response is often simple: changing the behaviour of the political leadership. The investors are not returning to Aba because everything has suddenly turned perfect; no, they are coming back because they have seen a clear difference in the disposition of the current leadership. The institutions are becoming more responsive, not because we hired angels to run them; things are changing at the ministries, departments and agencies for the simple reason that we entrusted leadership to individuals who understand what it means to lead with a clear service-orientation — men and women who appreciate the principles of stewardship. In Abia, we have not only restored the faith of our people in government, we have effectively demonstrated that agencies of government can be alive to their responsibilities — that political office holders are actually servants of the people, not their masters. With the streets of our urban centres cleaner than they have ever been, consistency in the execution and delivery of large-scale capital projects and an unyielding commitment to the security of lives and property, it is easy to understand why old businesses are returning, even as new enterprises open in record numbers across our State.
9. The modest gains we have recorded in Abia is down to a new orientation to public sector leadership. Abians since 2015 rejected the old political culture of elite compromises. They were undeterred by the disappointments of 2015 and 2019 but remained resolute in their conviction that once we get it right politically, everything else would fall in place. The events of the last 35 months have simply proved that they understood something that some of us may need to pay great attention to: politics, when done right, expands the sea of economic opportunities for everyone, builds confidence and sets the community free from the agony of destitution and helplessness. The interesting thing is that once the fundamentals are in place, you may not have to wait for ages to see the manifestation of progress in the daily experiences of the population; it is about the small changes that eventually aggregate to great things, schools that actively educate the young and prepare them for the opportunities of the future, businesses that make profit and employ the products of our schools and vocational centres, hospitals that attend to the sick, support the health and wellbeing of the population, roads that fast-track the movement of people and goods, farms that feed the population and an economy that supports the hard work of its population, inspires dreams and drives innovation. Again, these are no abstract ideas, in fact, they are fundamental to the growth and development that we seek.
10. It would help to note that in contemporary economic interpretation, development goes beyond growth in nominal GDP, it is about the experiences of the population, the expansion of employment opportunities, consistent assault on the menace of poverty and measures at cutting extreme inequalities, driving inclusiveness and leaving no one behind. It is, therefore, not just enough to expend resources on the development of physical infrastructure; the expected social and economic returns have to be estimated in advance to determine the medium to long term benefits of such investments vis-à-vis other competing demands. The same applies to social welfare programmes that prioritise cash handouts or the distribution of food items to poor households. The question of returns and sustainability has to be asked: does it actually make long-term economic sense to commit humongous sums to short term consumption, what if such funds are directed transparently to investments in agriculture, power or public works so as to create real employment for the poor? This is about teaching the hungry to bake their own bread instead of the tokensim of receiving a small loaf every now and again. A productive alternative to economic handouts not only yields superior, long term economic benefits; it preserves the dignity of the beneficiaries. Another area of concern is the size of public resources wasted on abandoned projects — infrastructure initiatives that are discontinued just because the administration that initiated them is out of office, even when such projects are clearly viable or on the verge of completion. How can genuine progress be made when governance is personality-driven? The bottom line is that there are multiple channels of wastages that have to be closed and the savings arising therefrom directed more prudently.
11. Development is impossible without a proper sense of stewardship amongst those in leadership positions — the understanding that what is entrusted in our care does not automatically become private possessions but talents that will be diligently accounted for in due time. Unfortunately, many of us in public offices are yet to acquire the discipline to separate personal interests from public aspirations; oftentimes it is about our ego and considerations that are unconnected to the expectations of those we are called to serve. The summary of my thought on economic development is that it has to be people-focused, touching directly on the parameters that have express bearing on our daily experiences as citizens and economic agents. In Nigeria, our national development pursuits should capture efforts at the revival and optimisation of dormant factor assets, especially our large expanse of arable land, the intellect and creative energy of our young population and new cross-border opportunities that technology have opened to us.
12. Several nations of the world are doing better than us on multiple fronts, not because they are better endowed, but for the simple reason that they have consistently made better political and economic choices than we have done. Democracy remains the best vehicle for inclusive growth and development but perhaps the time has now come to evaluate how ignorance amongst the voting public, weak internal governance mechanism within the party hierarchy and the near-absence of clarity in the disposition of critical state institutions can hamper the delivery of the full promises of democratic governance. Policy inconsistency amongst political leadership remains a major albatross in our polity and you can link it to the weakness of our institutions and the growing culture of populist opportunism. This year holds a lot of importance to what will happen to our country and the states in the decades to follow because we are on the eve of another major election. This is the best time to take civic education seriously; the citizens must know what issues will be determined at the ballot next year and how all of it is tied to our future. As I had earlier mentioned, poverty and prosperity, employment and joblessness, security and anxiety, prudence and rascality will all be on the ballot in 2027. The nation and our different states and constituencies will go in whatever direction we choose; it is as simple as that. My only prayer is that efforts be made to properly educate the public on these options so they can make their choices with the benefit of full information. The truth, however, is that a choice must be made in about nine months, albeit a political one, but the implication of our decision on the economy will be far-reaching. As I said during a TV interview in 2022, foreign and domestic investors can know from the result of an election, where to put their money. Investments are not attracted by endless foreign trips and media promotions but by the signals we transmit through the choices we make at the ballots. Sustainable job creation, improved factor utilisation and higher household earnings have their roots in the quality and quantity of investments that are attracted to a community per time.
13. To take the population out of the misery of unemployment and the indignity of poverty, two development indicators that are of express importance to majority of our people, certain trade-offs must be made because once you eat your cake, you cannot have it back, at least not immediately. Cutting our appetites for foreign goods and travels would be a good place to start but that would only be foundational. Evaluating the impact of social welfare expenditure vis-à-vis expected benefits from direct investments in productive ventures should follow quickly. The next consideration in this regard relates to the development of a holistic template to guide project conception, funding and delivery. The idea is that no project should be initiated if there are no clear provisions for full term funding, even after the lifespan of the administration that initiated it. It also follows that no similar project shall be introduced unless those earlier initiated are delivered, especially when there are no structural or legal impediments.
14. Progress requires collective sacrifices from all stakeholder groups. At any rate, sacrifices in themselves are never enough, there must be clear goals and expectations; the public must know that their sacrifices will amount to something in the long-run, not self-punishment. If public expenditure decisions are made to draw resources away from social welfare programmes and push them to infrastructure development for example, the public must begin to see efforts in that regard immediately. Important questions about long term benefits must also be answered. It helps to communicate all of these through regular stakeholder engagements to clear ambiguities and build confidence. Above all, the leaders must be at the forefront when it comes to making sacrifices in order to bolster trust. The sincerity of officials within the leadership hierarchy must never be in doubt; when a decision on cutting down recurrent expenditure is made, all public spending related to the acquisition of luxurious vehicles, lavish state dinners and self-serving overseas trips must be frozen immediately. The message for all of us is that our people respond more to what we do, not what we say. Economic growth certainly requires trade-offs like putting more resources into capital projects and less to recurrent expenditure, higher investments in education and health over white elephant projects and prioritising public security over political patronage. However, before announcing a freeze on wage hike, those who sit at the decision-making table are also obliged to resist the temptation to pad their allowances or allocate higher perks to themselves as that would be a tragic violation of trust.
15. Since we assumed office in 2023, a central motor vehicle management policy was adopted to fix as many abandoned vehicles as can be fixed, invest more resources in the acquisition of locally-made vehicles and drastically cut down the number of functionaries entitled to official vehicles. We also looked deeper into the nominal roll to identify possible channels of malpractices; it was not long before we discovered thousands of ghost workers and other evidence of malpractices within the system. We have since dealt with those using technology tools and new evaluation processes that saved the State reasonable sums of money. We have also expanded our independent revenue base by more than 300% in the last 35 months through engagements with different economic groups and of course, the introduction of ICT tools in revenue mapping, mobilisation and remittances. However, the main reason we have done better at internal revenue mobilisation is that our people can see where their money is going to; they clearly understand our philosophy of governance as partnership between the government and the people. The lesson here is that citizens are much more sensitive than we appreciate, their response to government policies and programmes is tied to their everyday experiences. Fixing our economic governance template requires sending the right kind of signal — one that assures the people that the pains of the reforms would lead to enduring economic freedom for everyone in the fullness of time.
16. Beyond getting it right with political behaviour, our priority has been firmed on efforts at cutting multiple productivity barriers across economic frontlines. To address infrastructure gaps, our next focus was on power and public transportation. It has tos be made clear th small and medium sized generators, or generators of any size at that, cannot sustainably support our giant economic dreams. Latching on my previous encounter with Geometric power in Aba, we worked with the company to generate, transmit and distribute power to Aba and environs. Having achieved that, we are now working on getting reliable power to the rest of the state. I am glad that the energy sector is now liberalised to accommodate participation by the states. Abia is already taking advantage of this new window of opportunity to the fullest. We have already started an energy sector partnership framework where government lends its weight to de-risk initial outlays by independent investors but operations and governance must remain in the hands of the private sector for efficiency and transparency while regulation resides with the state.
17. Closely connected to power and energy in the development equation is transport infrastructure, particularly rail and road networks. This is directly linked to our broad spectrum of economic development aspirations including food supply, employment, reduced production costs and lower cost of living. It is my considered opinion that the development of the transport sector should be made a matter of urgent national priority with every tier of government committing a reasonable share of its periodic revenue to the development of the transport ecosystem within its domain. In Abia, we are working with the private sector to develop a rail master plan for the state. While we understand that this is a long term project, we also believe that the journey of a thousand miles starts with one step. We have no doubt that regional integration would benefit from rail networks —to link agro and industrial centres to markets within and outside the region. I am convinced that a lot will change in our economic outlook if we get transportation right, starting with targeted investments in infrastructure, it is on the back of this that we launched our Electric Buses towards the end of last year and the fleet will be doubled by July. In our state, it is our belief that we cannot build a functional economy on the back of small generators. It is also our opinion that nothing will change if the most reliable public transport system are commercial motorcycles, tricycles and mini-buses. Of course investment in social infrastructure, particularly, health and education where we had allocated 15% and 20% of our budget in the last 3 years cannot be overemphasised.
18. Lastly, and probably more importantly is the issue of security. There is a reason security of lives and property is captured in our Constitution as the primary responsibility of government. For over 20 years, insecurity has taken so much from our national treasury while drastically cutting the volume of resources that could have been deployed to drive development outcomes in other needs areas. Insecurity stifles economic growth, steals talents and keeps production assets dormant. Given the sensitivity of this issue, one may not exhaustively discuss it here but it remains important that everyone gets involved in securing their environment. I’m glad that the issue of state police is receiving serious attention by this government. That is expected to localise policing and bring in more stakeholders into the mix. Our security challenges, very much like every other setback in our economy, are not intractable but again, there must be a firm commitment on the part of every stakeholder to identify and deal holistically with all channels of disturbances, with particular respect to violent crimes, terrorism and activities that challenge the sovereignty of the Nigerian nation.
19. Let me conclude by returning to where we started: you cannot separate national economic realities from the decision of political actors. This is an open invitation to all of us, especially young professionals in the room to begin to show more than a passing interest in political discourse. Prudent application of public resources, respect for rule of law, independence of institutions and all such ethos that promote transparency in the public sector are down to the choice of leaders we make, our pattern of interaction with public institutions and the level of commitment we apply to our patriotic duties as citizens and stakeholders in the democratic process. Our institutions need to become more resilient but again, that would not happen by just wishing or talking about it, we need to make committed and unwavering demands to move the needle. When we consistently elect the right leaders, build independent institutions to protect long term public interests and cut out abuses by political actors, we can then move the gear to monitoring the procurement process in public institutions, cutting waste and blocking channels of leakages because every kobo matters.
20. The above are what I consider fundamental to jumpstarting our development; the next step would be the deliberate pursuit of accelerated development through intelligent public sector investment in critical economic sectors, particularly power and transport infrastructure. This is necessary to cut production costs, improve factor utilisation and expand employment opportunities for millions of young Nigerians. The next phase of our development must be people-oriented, driven by the creation of new jobs, expansion of business opportunities for local and foreign investors and the prioritisation of efficient service-delivery in public sector institutions, especially education and health. People are our biggest assets so it is important we invest generously in our wealth of human capital for that is what I consider our truest and most enduring wealth, far above the treasures that are buried beneath our soil. To appreciate how infinite our human capital is, think of the exploits of our people in medicine, engineering, information technology, economics, finance, sports, arts and in other sectors where value creation is driven by the power of the human mind. How then can this great nation of brilliant and hardworking men and women remain stuck in the mire of poverty and material destitution? Addressing the origin of this continuing paradox should become a major priority for all of us because individual brilliance, as I learnt at Boston in 2009, does not excuse one from the shame of collective failure.
21. Let me thank you, distinguished ladies and gentlemen, for listening and may God bless Nigeria.

Full text of a public lecture delivered by Governor Alex C. Otti, OFR, at the 5th edition of TheNiche Annual Lecture held at the Nigerian Institute of International Affairs, Lagos, on Thursday, April 23, 2026.

~ Published By NewsOrient Network

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