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Pat Utomi ‘Financial crisis caused by foolish choices,’ Economist says

Professor Utomi made the statement on Monday during a programme at the United States Consulate in Lagos.

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Pat Utomi tells Nigerian youths to not feel entitled to power play

Former Presidential aspirant, Pat Utomi

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Prominent economist, Pat Utomi has said that Nigeria’s current economic crisis was caused by years of foolish choices made by the nation’s leaders.

Professor Utomi made the statement on Monday during a programme at the United States Consulate in Lagos.

“What has happened in Nigeria in the last four years has prevented the economy from growing due to foolish choices. Look at the excuse we are giving about the drop in oil price,” Utomi said according to Punch.

“Do you know what oil prices were when former President Olusegun Obasanjo came to power?  We have learnt to spend recklessly without saving; they bought private jets and some people were stupid enough to buy three to show who they were.

“Leaders are not people who tar roads. Any moron can sign a cheque and ask Julius Berger to tar roads. Leadership is about shaping culture so that there is human progress. The kind of value you have as a country determines (your) economic performance. It is the leaders that will initiate those values.

“Everything in our country is reduced to politics. The biggest danger to Nigeria is the overrating of politics and government. I can actually prove with case studies that the government is more responsible for preventing progress in Nigeria than for making it happen. This is not because these men hate Nigeria.

ALSO READ: ‘We have a lazy political class,’ Pat Utomi says

“A man cannot give what he doesn’t have. They are working hard for the good of this country but systematically preventing good from taking place because of their limitations,” he added.

Utomi had earlier said that President Muhammadu Buhari’s ideas are irrelevant to this world.

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