Nigeria's persistent economic and governance instability is a direct result of duplicated policies, inconsistent reforms, and the absence of a coherent long-term national development plan. This is the view of financial expert and former bank managing director, Chikatara Mbonu.
Root Causes of Nigeria's Developmental Stagnation
Speaking at the Engr Ette Etteh annual lecture series and book launch in Ibadan on 20 December 2025, Mbonu delivered a stark assessment. The event was organised in collaboration with the Nigerian Institution of Civil Engineers (NICE).
Mbonu argued that the country's failure to sustain policies across different administrations has consistently undermined growth and institutional stability. He noted that frequent shifts in government priorities severely weaken planning and effective execution of projects.
Addressing the theme, “Blueprint of Progress: What Nigeria Can Learn from Global Systems and Leadership”, the expert stated that Nigeria's development challenges are largely self-inflicted. He contrasted Nigeria's experience with nations that have achieved sustained development through commitment to long-term goals, disciplined leadership, and strong institutions, rather than reliance on individual personalities.
The Cycle of Abandoned Agendas and Cultural Obstacles
According to Mbonu, a destructive pattern exists where each new government discards existing frameworks, replacing them with fresh agendas, slogans, and programmes that ultimately fail to solve core problems. This cycle, he said, reproduces the same issues repeatedly.
He further identified deep-seated cultural issues as major roadblocks. A culture of “man-know-man” (nepotism) and the widespread perception of public resources as a “national cake” to be shared, were highlighted as critical obstacles to accountability and genuine progress.
Mbonu described Nigeria as a nation rich in natural resources but critically weakened by poor national values, weak institutions, and contradictory policies. To reverse this damaging trend, he proposed a multi-pronged solution.
Pathway to Stability: Education, Judiciary, and Infrastructure
The former bank chief urged Nigeria to learn from countries like Singapore and Rwanda by embedding ethics, discipline, and civic responsibility into the education system from primary to tertiary levels.
He also stressed the non-negotiable need for transparent judicial processes. Mbonu pointed out that development remains an illusion in an environment where criminals often walk free and court decisions are subject to interference.
On tangible economic drivers, Mbonu said Nigeria must prioritise key infrastructure projects. These include:
- Developing a national rail network linking all geopolitical zones.
- Ensuring reliable power supply to industrial corridors.
- Expanding gas-to-power projects.
He added that rapid urbanisation demands future-focused city planning. This planning must account for population growth, mass transit systems, flood control, climate-resilient zoning, and digital infrastructure.
Earlier at the event, the Chairman of the occasion, Engr. Yusuf Sagaya, noted that declining professional standards in the consulting industry have contributed significantly to Nigeria's infrastructure challenges.
In his response, the host, Rev. Engr. Ette Etteh, commended the organisers, the University of Ibadan community, and all well-wishers for the honour bestowed upon him.
