Political economist and former presidential candidate, Prof. Pat Utomi, has accused the ruling All Progressives Congress of taking Nigeria backwards, saying the country\u2019s economic decline has eroded citizens\u2019 purchasing power and made previously affordable goods increasingly out of reach.\n<\/p>\n
Utomi made the allegation in a post on his X handle on Wednesday, where he distinguished between economic stagnation and regression, arguing that Nigeria was experiencing the latter under the APC-led government.\n<\/p>\n
He illustrated the difference using the example of a car, saying a Nigerian who could afford a 2006 model in 2016 should, at the same level of financial standing, be able to afford a 2016 model in 2026.\n<\/p>\n
According to him, such a situation would amount to stagnation if the person\u2019s financial position had remained unchanged over the 10 years.<\/p>\n
However, he said a situation in which the same person could no longer afford even the 2006 model in 2026 demonstrated regression.<\/p>\n
He said, \u201cThere 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.\u201d\n<\/p>\n
The economist argued that the country\u2019s economic condition had deteriorated to the extent that Nigerians were losing the purchasing power they previously enjoyed.<\/p>\n
He said, \u201cWe are not simply standing still; we are losing ground, watching yesterday\u2019s modest comforts become today\u2019s luxuries.\u201d <\/p>\n
Utomi, however, said the situation was not irreversible, urging Nigerians to use their votes to change the country\u2019s direction.\n<\/p>\n
He described voting out leaders he considered incompetent and corrupt as a national responsibility rather than merely a political decision.\n<\/p>\n
He said, \u201cBad leadership is not a life sentence. We have the power to change our country\u2019s direction, and that power lies in our votes.\u201d\n<\/p>\n
He added that Nigerians must stop supporting leaders whose actions, in his view, were contributing to the country\u2019s decline.\n<\/p>\n
\u201cIf we want to save Nigeria, we must stop rewarding those destroying it,\u201d he said.\n<\/p>\n
Source: <\/p>\n
Political economist and former presidential candidate, Prof. Pat Utomi, has accused the ruling All Progressives Congress of taking Nigeria backwards, saying the country\u2019s economic decline has eroded citizens\u2019 purchasing power… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-9426","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/9426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=9426"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/9426\/revisions"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=9426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=9426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=9426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}