Recession: Those blaming fall in oil price were just bad managers – Utomi

by Azeez Adeniyi

Former presidential candidate, Prof. Pat Utomi on Wednesday blamed the adminstration of President Muhammadu Buhari for the current economic recession in the country.

Utomi spoke as a guest lecturer at Dr Emmanuel Egbogah budget roundtable organised by the Business School of Nnamdi Azikiwe University, Awka, Anambra State.

He blamed the recession on lack of foresight and refusal to plan, adding that a good national budget could have saved the situation.

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He said the Buhari government should have foreseen the recession if it had been futuristic.

He said “Our major problem is that we lack planning and budget discipline.

“In beginning of a budgeting process, it must be matched with where the people are going; but beyond revenue and expenditure, budget has to do with discipline and execution.

“Those blaming fall in oil price were just bad managers. That was not the cause of this recession.”

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