Prof. Pat Utomi has faulted the economic policies of the All Progressives Congress (APC), saying Nigerians have suffered a sharp decline in their standard of living since the party assumed power.
The former presidential candidate made the remarks in a post on X on Wednesday, where he said the country was no longer merely experiencing slow economic growth but was losing the progress it had previously made.
To explain his position, Utomi drew a comparison between the cost of living and the value of money over a ten-year period, using the affordability of cars as an example.
He said a person who had the financial means to purchase a 2006 vehicle in 2016 should be capable of buying a 2016 model in 2026 if their economic circumstances had remained unchanged.
But if that same person could no longer afford the older vehicle after ten years, Utomi argued that it showed a decline in financial capacity rather than a mere absence of progress.
He said, “There is a difference between a country that has stopped moving forward and one that is actively moving backwards. The first is stagnation, the second is regression. Sadly, Nigeria, under the APC, has become an example of the latter.”
Utomi further described the situation as one in which Nigerians were gradually being priced out of goods and services that were once within their budgets.
He said, “We are not simply standing still; we are losing ground, watching yesterday’s modest comforts become today’s luxuries.”
Looking ahead to the next general elections, the economist said Nigerians still had an opportunity to change the country’s political and economic course through their votes.
He urged voters to hold public office holders accountable by refusing to re-elect those they believed had failed the country or engaged in corrupt practices.
He said, “Bad leadership is not a life sentence. We have the power to change our country’s direction, and that power lies in our votes.”
He added that the electorate must reconsider its support for politicians whom he accused of contributing to Nigeria’s present difficulties.
“If we want to save Nigeria, we must stop rewarding those destroying it,” he said.
