The Nigerian political space has become a very interesting one since the commencement of this fourth republic in 1999, with many commentators express their regret on lack of progress.
One of the major challenges the country is facing has always been the recruitment process for the political leaders at the Federal level and the sub nationals with many of them demonstrating lack of capacity as well as unwillingness to cater to the needs of the people they govern.
There has been a lot of agitation for the more participation of private sector leaders or technocrats in politics, either for elective offices or appointments into political offices due to the perceived failures of the typical professional Nigerian politicians.
Nigeria’s economic setup is largely shaped by its private sector, which accounts for over 80% of GDP and employment.
Private sector leaders are increasingly showing more interest in Nigerian politics, often through partnerships with government, funding initiatives, advocacy for specific policies, appointments into public offices or even actively contesting for elective positions.
This trend points to paradigm shift in Nigerian politics, where technocratic credentials and private sector experience are gaining appeal among voters and party powerbrokers alike.
For these set of politicians, decades spent navigating market volatility, managing enterprises, and driving capital investment have become assets in addressing Nigeria’s fiscal and governance challenges.
This list highlights Nigerian current state governors who came from the private sector, detailing their professional journeys
Dr. Alex Chioma Otti, OFR, is an economist, banker, investor, philanthropist, and writer who became the fifth democratically elected governor of Abia State on May 29, 2023. A First-Class economics graduate from the University of Port Harcourt, Otti also holds an MBA from the University of Lagos and has completed executive programmes at Columbia, Stanford, Wharton, and INSEAD.
Otti began his banking career in 1989 at Nigerian International Bank, a subsidiary of Citibank New York, before moving through senior roles at Intercontinental Merchant Bank, Societe Bancaire Nigeria, UBA, and First Bank, where he became Executive Director.
His most prominent role came as Group Managing Director/CEO of Diamond Bank Plc, one of the leading retail financial institutions of its time in Nigeria where he steered the institution into one of Nigeria’s top retail banks before its eventual merger with Access Bank.
Beyond banking, Otti sat on the Editorial Board of Thisday Newspaper and has remained an active voice in national economic discourse.
Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.
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