•Pat Utomi and Tinubu
Political economist Prof Pat Utomi has criticised the federal government’s economic priorities, saying most national resources are being directed to non-productive sectors, especially the political class, instead of boosting production.
Speaking on Channels Television last night, Utomi said the federal government’s focus on revenue generation is hurting the economy rather than helping it.
“Most non-productive sectors, the political class, for example, and we need to get the resources that are available to go directly into ramping up food first of all, and then the value chain from those factor endowments around agriculture,” he said.
He argued that rising inflation and marginal currency stability have not translated into better living conditions for Nigerians.
“If you are from hell to purgatory, have you been saved from damnation?” he said, criticising claims that the economy is recovering.
Utomi insisted that progress must be measured by job creation and the affordability of basic needs.
“Food is the ultimate. When people can’t eat, anything can happen,” he said, calling for investment in agriculture, education, and healthcare.
