Professor Pat Utomi has accused the APC government of pushing Nigeria into economic regression, arguing that citizens have lost purchasing power and can no longer afford goods they previously bought with ease. Political economist and former presidential candidate, Professor Pat Utomi, has criticised the All Progressives Congress (APC)-led government, alleging that Nigeria is moving backwards […]

Professor Pat Utomi has accused the APC government of pushing Nigeria into economic regression, arguing that citizens have lost purchasing power and can no longer afford goods they previously bought with ease.

Political economist and former presidential candidate, Professor Pat Utomi, has criticised the All Progressives Congress (APC)-led government, alleging that Nigeria is moving backwards economically rather than simply experiencing slow growth.

Utomi expressed his concerns in a Wednesday post on his X account, where he explained how economic stagnation differs from regression and argued that Nigeria was facing the latter.

To illustrate his argument, he used the example of a Nigerian who could afford a 2006 model car in 2016. He explained that if the individual’s financial position remained unchanged over the following decade, the person should be able to afford a 2016 model vehicle in 2026.

He described such a situation as stagnation, noting that the individual’s purchasing power would have remained at the same level despite the passage of 10 years.

However, Utomi said Nigeria’s situation was worse because citizens who previously had the financial capacity to purchase certain goods were now struggling to afford even those same items.

He argued that the APC administration had presided over a period of economic regression, which had reduced the purchasing power of Nigerians and pushed previously affordable goods beyond the reach of many households.

“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,” he wrote.

The economist further lamented that Nigerians were losing the modest comforts they previously enjoyed, with everyday goods increasingly becoming expensive luxuries.

“We are not simply standing still; we are losing ground, watching yesterday’s modest comforts become today’s luxuries,” he added.

However, Utomi maintained that the country’s situation could change through the democratic process, urging Nigerians to make use of their voting rights in the 2027 elections.

He described the removal of leaders he considered incompetent and corrupt through the ballot as a responsibility citizens must take seriously.

“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 stated.

Utomi also urged Nigerians to reconsider their support for leaders whom he blamed for the country’s declining economic conditions, insisting that the electorate should stop rewarding those he accused of contributing to the nation’s problems.

“If we want to save Nigeria, we must stop rewarding those destroying it,” he said.