{"id":7436,"date":"2016-02-03T19:28:24","date_gmt":"2016-02-03T19:28:24","guid":{"rendered":"http:\/\/newsroom247.com.ng\/?p=7436"},"modified":"2016-02-03T19:31:38","modified_gmt":"2016-02-03T19:31:38","slug":"buhari-has-no-knowledge-nigerias-economy-pat-utomi","status":"publish","type":"post","link":"http:\/\/newsroom247.com.ng\/?p=7436","title":{"rendered":"Buhari has no knowledge of Nigeria&#8217;s economy &#8211; Pat Utomi"},"content":{"rendered":"<p>Professor Pat Utomi has lashed at President Muhammadu Buhari for the statement he made in Kenya that he would not devalue the Naira.<\/p>\n<p>The falling price of crude oil in the international market has weakened the Naira against the dollar thereby affecting the economy of the country. The president who was in Kenya for three days<a href=\"https:\/\/www.naij.com\/712160-president-buhari-reveals-decision-naira-devaluation.html\"> said he was yet to be persuaded that Nigeria and its people will receive any noticeable benefit from an official devaluation of the currency.<\/a><\/p>\n<p>Utomi however claimed the president has no knowledge o<a href=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/01\/Niger-Delta-map-.jpg\" rel=\"attachment wp-att-7103\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7103\" src=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/01\/Niger-Delta-map-.jpg\" alt=\"Niger Delta map\" width=\"300\" height=\"300\" srcset=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/01\/Niger-Delta-map-.jpg 300w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/01\/Niger-Delta-map--150x150.jpg 150w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/01\/Niger-Delta-map--80x80.jpg 80w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/01\/Niger-Delta-map--40x40.jpg 40w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/01\/Niger-Delta-map--64x64.jpg 64w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/01\/Niger-Delta-map--75x75.jpg 75w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>f the economy and should allow those who do speak on the matter.<\/p>\n<p>Utomi spoke exclusively to naij.com on Monday at the inauguration conference of the Ibadan School of Government and Public Policy on Monday, February 1. Asked about the current economic situation, Utomi said Nigeria was paying for its sin as the country failed to do what it should have done.<\/p>\n<p><em>\u201cThe economic situation is a very big issue and there are many problems that have converged. We are just paying for our sins. We are paying for not having done what we should have done. Who gets a windfall for a very long time? Oil is a very volatile commodity\u2026we had a big boom but we squandered everything.\u201d<\/em><\/p>\n<p>The professor said the country should have saved when it had surplus but it didn\u2019t.<\/p>\n<p><em>\u201cWe need a disciplined and focused political leadership at this time. Unfortunately, I don\u2019t think we are quite there.\u201d<\/em><\/p>\n<p>He said the president\u2019s statement in Kenya that he would not devalue the Naira has already created more problem for Nigeria.<\/p>\n<p><em>\u201cSomebody like him should not be talking about such things. Keep quiet\u2026he has created a major problem for the Nigerian economy by that statement.<\/em><\/p>\n<p>The president\u2019s economic policies have been criticised lately with <a href=\"https:\/\/www.naij.com\/706081-buharis-economic-policies-foolish-financial-times-uk.html\">the Financial Times UK describing them as the<em>\u2018height of foolishness\u2019.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Professor Pat Utomi has lashed at President Muhammadu Buhari for the statement he made in Kenya that he would not devalue the Naira. The falling price of crude oil in the international market has weakened the Naira against the dollar thereby affecting the economy of the country. The president who was in Kenya for three [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"ngg_post_thumbnail":0,"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[1],"tags":[1285,1284],"class_list":["post-7436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-financial-times","tag-pat-utomi"],"jetpack_featured_media_url":"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/01\/Niger-Delta-map-.jpg","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4oswh-1VW","_links":{"self":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/7436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7436"}],"version-history":[{"count":2,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/7436\/revisions"}],"predecessor-version":[{"id":7438,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/7436\/revisions\/7438"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/media\/7103"}],"wp:attachment":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7436"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}