Abia State Governor, Dr Alex Otti has warned that Nigeria risks a future of “guaranteed anarchy”, if it fails to reduce its dependence on crude oil.
Governor Otti gave the warning while delivering the 37th Convocation Lecture of the Federal University of Technology Owerri (FUTO), titled, “Economic Development and Sustainability: Beyond Oil, Exploring Alternative Revenue Potential for Economic Growth and Sustainable Development in Nigeria”.
The Governor said that Nigeria must urgently embrace alternative revenue sources, backed by strong political will, institutional reforms and large-scale investment in human capital inorder to secure long term stability.
He argued that Nigeria’s over-reliance on oil has crippled innovation, weakened tax systems, stifled other high-potential sectors, and repeatedly derailed development plans that looked promising on paper.
Governor Otti cautioned that a sudden collapse of oil revenue would throw many States into turmoil adding that what follows would be guaranteed anarchy.
“The objective assessment, a position Usman et al also share, is that without oil revenue, government operations in several States and Local Governments would come to a grinding halt. If that happens, what follows is guaranteed anarchy”.
He attributed Nigeria’s persistent development failures not to a shortage of ideas, but to “policy inconsistency, executive indecision and lack of political will”, citing Vision 20:2020, the National Industrial Revolution Plan, the Agricultural Transformation Agenda and the ERGP as examples of under-implemented programmes.
Governor Otti who lamented that Nigeria’s GDP per capita “fell from $1,820 to $807 in 2025” despite decades of ambitious plans, added that the Country’s tax-to-GDP ratio remains below the African average and called for a complete overhaul of the revenue architecture.
“The tax system in the Country is largely inefficient and dysfunctional. The reason stems from the absence of sufficient knowledge of the power of tax to transform an economy”, Governor Otti stated.
The Governor cited Abia’s tax reforms as proof that a trust-based model works, insisting that taxation must be repositioned as “a major instrument of development and not a tool of punitive control”.
He recalled that his administration suspended informal sector tax collections for six months in 2023 and prioritised service delivery.
He disclosed that entrepreneurs in Abia, now voluntarily pay taxes “to appreciate the work that is being done”, adding that Abia was recently ranked among States with the best fiscal performance for the first time.
Governor Otti also criticised decades of neglect in the Solid Minerals sector, noting that Nigeria’s deposits, valued at an estimated $750 billion have been left to illegal miners and criminal syndicates.
“Our nation may continue to fall short of its revenue target if the precious metals mined here are smuggled into neighbouring countries and sold in the black market with the proceeds going into the pockets of non-state actors“, he said.
The Governor further noted that despite decades of Agricultural Programmes, 30.6 million Nigerians still face acute food insecurity.
He noted that, in the meantime, the most realistic National Goal in Agriculture is to “ramp up output to be able to feed the population, fight the menace of hunger and create certain categories of jobs,” stressing that improved productivity must be treated as an urgent priority.
Governor Otti highlighted Abia’s efforts to revive Palm, Rubber and Cashew Plantations, support for small holder farmers and partner with research institutions such as Michael Okpara University of Agriculture and NRCRI Umudike.
The Governor who emphasised that Nigeria’s most valuable asset is not oil or minerals, but its people said, “the biggest resource advantage for our country is not what is buried in the ground, it is in the minds of its over 200 million people.”
He noted that sustainable development requires education, innovation and a well-trained workforce capable of extracting value from other sectors and highlighted that his administration allocates 20% of its annual budget to Education and 15% to Health.
The Governor said that the selfish orientation of the present generation has stolen the voices that could have pushed for a better deal for every member of the society and urged Nigerians to rediscover the community-before-self ethos of earlier generations and develop a national mindset that supports accountability, shared responsibility and sustainable economic growth.
Earlier in her remarks, the FUTO Vice Chancellor, Prof. Nnennnaya Otti appreciated Governor Otto for coming to deliver the 37th convocation lecture if the institution
Earlier in her remarks, the Vice Chancellor of FUTO, Prof. Nnennaya Otti, expressed appreciation to Governor Otti for honouring the institution with his presence and delivering the 37th Convocation Lecture.
The Convocation Lecture also featured the presentation of a commemorative plaque of the institution’s motto, “Technology for Service,” to Governor Otti by the Vice-Chancellor and a special presentation in appreciation of the Governor’s outstanding contributions to Education and development by the leadership of the Institution’s Student Union Government
The Deputy Governor, Engr Ikechukwu Emetu, Chief of Staff to the Governor, Pastor Caleb Ajagba, SSG, Prof Kenneth Kalu, Member representing Ikwuano/Umuahia Federal Constituency, Hon Obi Aguocha, Senator Darlington Nwokocha, Members of the Abia State Executive Council as well as the General Manager, Abia Newspapers and Publishing Corporation, Hon Jones Ike were among dignitaries who attended the event.
