Utomi Critiques Tinubu's Economic Reforms as Flawed

Professor Pat Utomi critiques the economic policies of President Bola Ahmed Tinubu, referring to them as "Tinubunomics" and characterizing them as a "ponzi scheme" that primarily benefits a privileged few. He argues that the current reforms, including the removal of fuel subsidies and the unification of exchange rates, do not address the fundamental structural issues within Nigeria's economy.

Utomi emphasizes that these policies have led to a fiscal drain and have not resulted in genuine economic improvement. He points out that the reforms are merely a rebranding of old practices that fail to dismantle the dysfunctional economic architecture.

Furthermore, he highlights that while there have been some improvements in fiscal liquidity at the state level post-subsidy removal, the overall economic framework remains flawed. Utomi calls for a more coherent and credible economic strategy that genuinely addresses the systemic weaknesses rather than perpetuating a cycle of superficial fixes.