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Renowned economist blames Buhari for recession

19 September 2016, 17:37

Abuja - A renowned economist and former presidential candidate, Prof Pat Utomi, has blamed the federal government for the current economic crisis, Punch reports.

Utomi said the current economic crisis would have been avoided by the Federal Government, if proper policy choices were made, noting that the crash in oil prices was not enough to have resulted in recession.

He noted that if government had borrowed money against its assets, devalued early and applied intelligent leadership, Nigeria would not have been at a crossroad now.

Utomi, who said this, yesterday, in Lagos at the 2016 Men Summit convened by the Catholic Men Organisation of the Holy Family Catholic Church, FESTAC Town, said the collapse in oil prices ought not to have plunged the country into crisis, if the authorities had acted rightly.

He also took a retrospective look at most factors that led to recession in Nigeria and submitted that the attitude of the present government, in the face of the dwindling oil prices, scared investors away from the country.

President Muhammadu Buhari, his deputy, ministers and heads of federal ministries, agencies and departments met on Thursday to search for solutions to end the economic recession gripping Nigeria according to News24.

- News 24


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