Figures from the recent rebasing of Nigeria’s Gross Domestic Product placed the country as Africa’s largest economy and the world’s 26th.
But Tambuwal said there is nothing to show that such a claim is true.
Nigeria, he said, is full of paradoxes, as corruption and violence threaten its existence despite the churches and mosques that abound everywhere.
He said this in his keynote address at the Eight Annual Business Law Conference of the Nigerian Bar Association Section on Business Law (NBA-SBL).
It has the theme: “Exemplary governance: enhancing economic development in Nigeria.”
Tambuwal, represented by Mr. Moyo Onigbanjo (SAN), said only good governance can rescue Nigeria.
He said: “We live in a country of inexplicable contradictions. We have great human and material resources yet we are always on the list of countries with the worst poverty index.
“Our economy is alleged to be growing, including the recent rebasing, but the lives of the majority of our citizens do not convey this testimony.
“We have more places of worship per square meter than most nations on this earth yet corruption and violence threatens our very survival.
“We have some of the best agricultural lands in the world but we import food. We are the sixth largest producer of crude oil, but we import finished petroleum products.
“We have lived together as a nation for over 100 years yet daily you hear stories of threats of our breaking up.
“Only good governance and true development can unravel these paradoxes which are clear indices of underdevelopment.”
Lagos State Governor, Babatunde Fashola (SAN) said there cannot be good governance when Nigerians refuse to vote in elections.
He said during his re-election, only 31 per cent of the registered 6.4million voters turned out.
“Do we vote? In India, 73.3 per cent of registered voters turned out to vote. In South Africa, 72 per cent turned out to vote in their last election. But I can’t recall when last up to 50 per cent of registered voters in Nigeria came out to vote,” Fashola said.
According to him, such indices send negative messages to investors, adding that it takes the votes by the electorate to choose good leaders.
“Do we deserve to ask for good governance when we stay away during election?” Fashola asked.
The Chief Judge of Lagos State, Justice Ayotunde Phillips, said exemplary governance is critical for economic development.
She said economic development also hinges on strict observance of the rule of law, and an efficient and independent judiciary.
For Justice Phillips, represented by the Head Judge, Justice Olufunmilayo Atilade, good governance entails a system that encourages transparency and accountability.
The Nation
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