Political economist and former presidential candidate, Prof. Pat Utomi, has accused the ruling All Progressives Congress of taking Nigeria backwards, saying the country’s economic decline has eroded citizens’ purchasing power and made previously affordable goods increasingly out of reach.
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.
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.
According to him, such a situation would amount to stagnation if the person’s financial position had remained unchanged over the 10 years.
However, he said a situation in which the same person could no longer afford even the 2006 model in 2026 demonstrated regression.
He said, “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.”
The economist argued that the country’s economic condition had deteriorated to the extent that Nigerians were losing the purchasing power they previously enjoyed.
He said, “We are not simply standing still; we are losing ground, watching yesterday’s modest comforts become today’s luxuries.”
Utomi, however, said the situation was not irreversible, urging Nigerians to use their votes to change the country’s direction.
He described voting out leaders he considered incompetent and corrupt as a national responsibility rather than merely a political decision.
He said, “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 added that Nigerians must stop supporting leaders whose actions, in his view, were contributing to the country’s decline.
“If we want to save Nigeria, we must stop rewarding those destroying it,” he said.
