Economic Recession, Golden Opportunity to Fix Things – Pat Utomi

Prof. Pat Utomi has has described the current financial crisis in Nigeria as a ‘golden’ opportunity for the country to reposition its economy, rather than a problem.

‎He also said that a continuous fall in the price of oil would make the country realise its wealth in agriculture.

Utomi spoke on Monday at the groundbreaking ceremony of the Integrated Produce City in Ugbokun community, Ovia North-East Local Government Area of Edo State.

Present at the event were Governor Adams Oshiomhole, the Chairman of the state economy and strategy team and governorship candidate of the All Progressives Congress, Godwin Obaseki; the Commissioner for Agriculture, Prince Chris Okojie, and some members of the state House of Assembly from the area.

Utomi, who is also the Chairman of the produce city, explained, “Let me shock you by saying that the recession we face in Nigeria is a golden opportunity. It is not a problem; it is an opportunity to finally get the Nigerian economy right.

“So without appearing to scandalise anybody, I actually pray for oil prices to stay down and stay down for a long time. Then, we will come to our senses and we will know that Nigeria really is a rich country.”

According to him the country was yet to adopt the right economic policy, adding that a competitively driven industrial policy ‎in select value chains would be helpful in confronting the “misery index” and bring hope to millions.