Politics

Pat Utomi Shares his Personal Experience of ₦100 Million Loss Due to Amosun’s Actions

Published by Tope Fakinlede on August 18th, 2024.

Pat Utomi Shares his Personal Experience of ₦100 Million Loss Due to Amosun’s Actions

Pat Utomi

Professor Pat Utomi has shared how he allegedly lost ₦100 million due to the actions of Ibikunle Amosun, the former governor of Ogun State. Utomi’s OPIC agreement, which concerns the Ogun State Property and Investment Corporation’s real estate projects, was reportedly annulled by Amosun.

Utomi’s comments come in response to Amosun’s recent assertion that Zhongshan Fucheng Industrial Investment Co. Ltd., a Chinese firm, provided false information during Amosun’s governorship. A Paris court recently ordered the seizure of three Nigerian government jets in connection with an arbitration award favoring Zhongshan, a move that has sparked controversy.

On Thursday, Ogun State officials stated they were not informed about the court’s decision allowing the Chinese firm to seize Nigeria’s presidential jets. Bayo Onanuga, a presidential aide, claimed that the Nigerian government had no contractual obligations with Zhongshan and accused the company of employing dubious methods to claim Nigeria’s assets.

Amosun has since urged the federal government to avoid negotiations with Zhongshan. In a post on Sunday, Utomi described himself as a victim of Amosun’s breach of contract. Despite seeking assistance from President Bola Tinubu and Bisi Akande, former interim national chairman of the All Progressives Congress (APC), Utomi’s issue remains unresolved.

Utomi recounted that Amosun’s disregard for the contract terms led to the seizure of presidential jets, lamenting, “I hope he is satisfied with this outcome.” He further revealed that he had been involved in a Build-Operate-Transfer (BOT) agreement for OPIC land in Lagos under former Governor Gbenga Daniel, but Amosun halted the agreement upon taking office.

Utomi described his efforts to resolve the issue, including multiple visits to Abeokuta and appeals for assistance from APC leaders. He revealed that he had initially invested ₦200 million alongside his South African partners but was only advised to claim ₦100 million for a refund.

Despite seeking intervention from current Ogun Governor Dapo Abiodun, Utomi’s efforts yielded no results. He expressed frustration over the situation and the impact on his business relationships, noting, “I had to cope with the fallout and repay loans while witnessing the Chinese firm succeed where I could not.”

Utomi’s new book, *Power Policy Politics and Performance*, includes a similar case study involving South African investors in Enugu, highlighting persistent issues in governance and investment.

He concluded with a call for better values to drive human progress, emphasizing, “When will we learn? Values shape human progress.”