Pat Utomi: Political Class Must Change Approach or Nigeria Will Die
Renowned professor of political economy, Pat Utomi, has called on the political class to change its approach in maneuvering the economy, or the country will die. He lamented that Nigeria is facing unprecedented inflation amid a decline in the naira to the dollar.
Proactive Measures Needed to Save the Economy
Speaking in an interview on Arise TV on Monday, the elder statesman asserted that the situation is no longer business as usual and the national assembly must take proactive measures to save the nation from further decline.
Political Class Must Recognize the Danger
Utomi warned that if the political class does not recognize the danger that the country is in, Nigeria will die. He said that this is not the time for business as usual.
Cut Costs and Produce for Export
Utomi insisted that the country must cut costs, as no one will ever take Nigeria seriously with its current ‘behavior’. He said that Nigeria must seriously cut costs across the board and remove the cost of the National Assembly.
He also stressed the importance of producing for export. He said that many people are not producing anything because they have abandoned their farms and are now living in internally displaced persons (IDP) camps. Even for those who make an effort to export, the customs process makes it difficult for them to do so.
Utomi’s warning is a timely reminder of the serious economic challenges that Nigeria is facing. It is important for the political class to heed his call and take proactive measures to save the economy. Nigeria cannot afford to continue on its current path.