Renowned economist Professor Pat Utomi has publicly recounted his experience with former Ogun State Governor Ibikunle Amosun, accusing him of dishonoring a contractual agreement, which left Utomi saddled with debt. Utomi’s claims also draw parallels to a separate incident involving a Chinese firm, which led to the seizure of three Nigerian presidential jets in France after a court ruling.
In a revealing post on his X (formerly Twitter) account on Sunday, Utomi expressed his frustration with Amosun’s handling of contracts established by his predecessor. “So it was Gov Amosun’s violation of contract terms signed by his predecessor that brought the shame of seizure of jets from the Presidential fleet. I hope he is happy with his achievement,” Utomi wrote.
Utomi went on to share his personal ordeal, detailing how despite multiple meetings with Amosun, the former governor failed to honor a Build-Operate-Transfer (BOT) agreement that Utomi had entered into under the administration of former Governor Gbenga Daniel. “Amosun stopped all such on being sworn in. I called him. He said he did not see my name on the list. I went to Abeokuta and he called in Yewande Amusan who said mine was a straightforward deal they did not include it,” Utomi explained.
Despite Amosun’s assurances, Utomi was taken on a “rigmarole” that spanned years, ultimately leaving him and his South African business partners burdened with a ₦200 million investment that bore no returns. Utomi recounted a surreal car ride with Amosun, during which the governor advised him to claim ₦100 million and seek additional payments later. “It was surreal but if I got nothing more it would be better than being in court until we both retire,” Utomi noted.
Utomi’s attempts to seek intervention from top political figures, including APC leaders Bola Ahmed Tinubu and Bisi Akande, as well as Amosun’s successor Dapo Abiodun, yielded no results. Reflecting on his losses, Utomi remarked, “I lost my weary SA partners who owned a successful regional chain across Southern Africa and Asia. I licked my wounds and slaved to pay off the loans.”
Drawing a broader lesson from his experience, Utomi highlighted the importance of integrity in governance. “My new book Power Policy Politics and Performance documents a similar case study in Enugu involving SA investors as the gubernatorial batons changed hands. When shall we learn? Values shape human progress,” he concluded.
