Brexit: Nigeria will seriously suffer – Utomi, Akinterinwa, others (photos)

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The people of United Kingdom (UK) voted in a referendum to see to the exit of the nation from the European Union (EU)

– The result of the Thursday, June 23 poll was 52% to 48% for exit and stay respectively, marking the exit of the commonwealth headquarters from the EU in what was popularly known called ‘Brexit’

– Some experts on economic-related matters in Nigeria are worried that the exit of the UK could have much negative effect on the country’s growth and development


British Prime Minister, David Cameron

A renowned Nigerian professor of political economy, Pat Utomi, who commented on the result of the referendum, said it could bring about similar self-determination spirit in other parts of the world especially, Africa.

Utomi said: “I have a feeling that this is a new dawn for plebiscite or referendum democracy. People are going to be asking why they should be in any union. It could be Sierra Leone, it could be Nigeria. They will call for their own referendum. Culture, trends and patterns tend to take on a global dimension.

READ ALSO: BREAKING: UK Prime Minister David Cameron set to resign

“We have arrived at the age of self-determination. Making people stay in a union that they don’t like is now the equivalent of slavery in the modern age. It may get to the extent that many of the concocted states of West Africa that came out of the Berlin Conference, will begin to unravel. It has huge implication.”


Professor Pat Utomi

The professor of economy however holds the view that the EU will seek to build new trade relationship, while Britain will make efforts to concretise old trade partnership with countries like Nigeria.

READ ALSO: 7 potential impact of Brexit on Nigeria [LIST]

Earlier, The Punch gathered from the director general of the Institute of International Affairs, Lagos, Prof Bola Akinterinwa, that migrants should expect tougher days in the nearest future, based on the outcome of the referendum called Brexit.

Akinterinwa who called those who went for the exit of Britain from the EU had specifically ascribed many of the challenges confronting the UK in recent times to migrants.


Professor Bola Akinterinwa

The director general stated: “Some of them blame migrants for unemployment, various econometric issues and even traffic jams.

“When a British lawmaker, Jo Cox, was murdered by a nationalist recently, his killer, (52-year-old Thomas Mair) shouted ‘Death to the traitors, freedom to freedom!’ in court. The implication of that for Nigerians is that those who advocated for leaving the UK would be very strict and hostile to migrants in the foreseeable future.

“The mere fact that migrants are believed to be responsible for a lot of problems and the fact that many Nigerians would like to make Britain their second home, is a sign that they must prepare for harder days to come.

“This will also affect Nigeria because European countries are the first direction of our trade. If the union is suffering from whatever virus, Nigeria will also have its own share.”

While a professor of Energy Economics, Adenikinju Adeola, revealed that, “every agreement that has been signed will be affected in one way or the other. Like some experts have rightly said, the exit is going to cause a global recession in the economy because it will affect the demand for oil, which is the major source of Nigeria’s income.“Nigeria is trying to borrow money from the global financial market to fund the budget and other projects, but the Britain exit may also affect the chances of the country in assessing the loan.”

Tayo Oyetibo, Senior Advocate of Nigeria (SAN) concluded the experts’ comments by saying that, “if Britain, which is the strongest ally of Nigeria, pulls out from the EU, you can imagine what that means for Nigeria.”

As more floods or criticisms are being brought on the UK regarding its exit from the EU, President Muhammadu Buhari who commented on the British Prime Minister’s resignation said, “it was a demonstration of courage by a democratic leader who respects the will of the people.”

The post Brexit: Nigeria will seriously suffer – Utomi, Akinterinwa, others (photos) appeared first on Nigeria News today & Breaking news | Nigerian newspapers.

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