In an interview on Inside Sources with Laolu Akande on Channels Television, Professor Ayo Omotayo, Director-General of the National Institute for Policy and Strategic Studies (NIPSS), emphasized Nigeria’s commanding eligibility for a permanent seat on the United Nations Security Council ahead of any other African country.
He argued that given Nigeria’s economic capacity, strategic importance, and intellectual capital, the country is the country on the continent that is primarily well-positioned to represent Africa on the global stage.
Omotayo asserted that the federal government need not exert excessive effort in lobbying for this position, as Nigeria’s case is self-evident.
“The good thing is the Federal Government does not need to put too much effort in pursuing taking one of the seats [in the Security Council],” he remarked.
Omotayo recounted his observations from travels across African countries, expressing his confidence in Nigeria’s comparative advantage.
“When I go to some other African countries, I just look back at Nigeria and say, ‘Why don’t we believe in ourselves?’
Some of these African countries even have economies that can not even compare with the economy of maybe Kano state. And they’re a country,” he stated.
Omotayo argued that Nigeria’s significant economic size, wealth of intellectual resources, and strategic position make it a prime candidate for one of Africa’s slots at the UN Security Council. He proposed that if Africa is to have two permanent seats, Nigeria should hold one, while the second could be rotated among other African nations. He emphasized, “Looking at the size of our economy and the number of intellectuals we have everywhere in the world, it’s in the best interest of the EU to say if there will be two seats going to Africa, Nigeria should be given one African permanent seat. And let other African countries rotate the rest.”
Omotayo highlighted President Tinubu’s vision for Nigeria’s economic future. He noted, “Mr. President is preparing for this. He has charged us to look for pathways to make Nigeria a trillion-dollar economy in the shortest possible time.” This, according to Omotayo, aligns with the broader strategic goals of positioning Nigeria as a leading force in Africa and on the global stage.
Professor Omotayo also commended President Bola Ahmed Tinubu for implementing bold economic reforms, which he described as necessary to avert a financial collapse. He stated, “Let’s start by thanking Mr. President for taking certain bold steps in transforming the economy of Nigeria. It takes a lot of guts for a politician like him to decide to go the route of economic reforms. For us at NIPSS, studying the economic trends, we are taught that at some point, Nigeria would have collapsed financially if Mr. President didn’t take those steps he took.”
He noted the critical state of the oil sector, pointing out that Nigeria can no longer rely on oil revenue as it once did. “I must tell our viewers that oil is gone. And if oil is gone, and we still continue to pretend as if oil was there like it used to be 10/15 years ago, Nigeria would just have suddenly collapsed. But, with the agenda of Mr. President to reset the button and put Nigeria on a different trajectory, I believe there’s a whole lot of hope,” Omotayo explained. He expressed optimism that the economic reforms, though initially challenging, would yield positive outcomes for the country, emphasizing that transformations are often difficult but necessary.
Addressing the state of the Nigerian currency, Omotayo highlighted the unsustainability of defending the Naira without bolstering productivity. He stated, “You can’t keep defending the Naira. How can the Naira perform? We need to be productive as a country. For us in Nigeria, we are almost getting nothing from income taxes. Not up to 10 per cent of Nigerians are actually paying taxes.” He called for a more efficient tax system to improve national revenue and economic stability.
Omotayo also discussed the future of energy in Nigeria, particularly the transition to Compressed Natural Gas (CNG). He mentioned that NIPSS had recommended CNG as the country’s transitional fuel, applauding the federal government’s consideration of this proposal. “We recommended that the CNG will be the transition fuel. And I’m happy that the federal government is looking in that direction. I’m very sure the government is looking at how they can encourage private sector investment in it. It shouldn’t be federal government again to be investing in CNG conversion kits,” he noted, stressing the importance of private sector involvement in energy transformation.
Speaking on the role of NIPSS in shaping national policy, Omotayo explained, “We’ve existed for the past 45 years. The government set up NIPSS to train and encourage Nigerians to think strategically and develop policies that will work for the short, medium, and long term.” He highlighted the rigorous training program at NIPSS, where participants spend ten months deeply engaged in research and policy development. “When you come to NIPSS, you’re there for 10 months, and during the period, you’re almost like in a lockdown. It’s actually a place where people come and make a lot of sacrifices working on a theme,” he added.
