One of the true remaining patriotic voices in Nigeria. Time is running out to CHANGE things in Nigeria. Thanks, Prof Pat Utomi, for your erudite intellectual deliveries on Televison, as you do always.
Inflation can be categorised broadly as one of the following 2: 1) Demand Pull Inflation(too much money in circulation) and 2) Cost Push Inflation (cost of factors of production are high but not linked to increased demand). Inflation in Nigeria is one largely of Cost push which is largely linked to Naira devaluation! If we dont reign in the unchecked devaluation of our currency, no monetary policy will solve our Inflation problem.
You dey mind the so called leaders? It seems no one is thinking right in Nigeria. Most of our leaders in all aspects of the structure of the country, are just too lazy to think hence why they keep patching issues rather than tackle them.
If you analyze it that way you miss the root cause. The root cause is the too much money that was printed and decline in USD inflows from crude oil and other sources. Also one of the causes is that Aggregate Supply and our health, education and physical capital stock has been rotting away restricting Aggregate Supply. That too much money has ended up pursuing the scarce USD causing a decline in the value of the naira and hence sent inflation spiralling. Only solution now is investment to boost productivity by increasing Aggregate Supply. Also there needs to be the fiscal will / drive to pursue the right fiscal policies.
He has been saying these things for over a decade yet the government always ignores them. Why either 1) He's completely wrong or 2) The government feel their disastrous past is the "right one"! I believe Prof Utomi knows what he is talking about.
🎉😊...This is the best breakdown of the blueprint plaguing nationwide in Nigeria even with a solution management strategy for the government to engage on...thanks Prof Pat Utomi
Tremendous respect to Prof Pat Utome. A rare asset a society can have. Hope one day Prof will get to position of influence in Nigeria, the country is in dare needs of people like you.
We are blessed to have a person like you. One day a true patriotic leader will arise and implement the economic blueprint you left in PDP, APC, Labour Party and probably in the new Party that is on the way.
Abeg, Professor Utomi, is a real professor, not these those quota system professors. An intellectual and patrotic Nigerian. Thanks, Prof., for inspiring us- even in our broken state that the Nigeria of our dream is possible!
Dear Prof, you can’t force a rat to turn into a Lion. Hoping and thinking that Buhari was was going to adhere to whatever blueprint you guys had was just a joke. Buhari has never pretended to be anything but good in his life
I hear "increase production" many times. Has he forgotten Nigeria has epileptic power supply? Where are the machineries to increase production, locally made or imported? How about human capital, Nigerian engineers, can they solve real-world problems or are engineers coming from India and China? Comparing Germany with ready infrastructure and human capital in those days to Nigeria now makes no sense.
Power is important but more important in producing finished goods. We don't need much power to produce raw materials and export. With the money, we can invest and fix power
You have forgotten that boosting and stabilising our national energy and power amenities is a key component in the blueprint to create a productive economy and steer away from the current consumption-based, profligate economy.
How we have someone like Pat Utomi and have refused to tap into his brain baffles me. Are we cursed with bad leaders in Nigeria? I mean, what is all these na?
Nigeria have no excuse to be poor because it's blessed with everything except leadership. The factors of production as we know includes capital,land(in case of Nigeria very fertile), equipment and of course water.All this are abundant in the God given country.Being a highly diversified country (nation in a nation)probably the way to go is true federation or confederation and it should provide a fair competitive enabling environment with the right public relations orientation discourse tended to patriotism.We should speak well of ourselves and the country.The Americans say by any opportunity 'God bless America 'Nigerians can say the same whole heartedly and be proud of the country.
Excessive talk and grammar Prof Utomi- some professor. What difference has these “intellectuals” done to our lives - they talk they run away . Empty barrels.
Mr Pat Utomi, you can't ask the central bank to stimulate production which is the job of fiscal policy. Fiscal and Monetary policy all have their responsibilities in an economic system. I don't want to believe someone of your level is calling for a marriage of fiscal and monetary responsibilities. You should know why fiscal and monetary policy should focus on their contributions to the economy. We've seen CBN try to intervene in production through the Anchor Borrower's Programme, what you're calling for is similar to this. This is kangaroo economics. Fiscal policy through government agencies should be the only route to stimulate production. Government agencies will be better placed to work with industry stakeholders to determine how to responsibly spend production intervention funds and determine the best policies. The CBN should continue to focus on ONLY it's mandate of monetary policy and economic stability of which the components to be managed closely will include inflation (price stability) and unemployment.
He didn't say CBN should take over other responsibilities other than what they stand for. He said they should make their policies in a way that it promotes stimulating production. I hope you know that monetary policies can affect fiscal policies, and vice versa, because both are tools used to manage a country's economy.
@@kayodethomas6460 What part of stimulating production is not the job of a central bank don't you understand? This is the economics you people continue to practice and ruin the country and we will be watching you and laughing. Policies you mention have to be targeted towards achieiving a particular objective. The moment you throw in production rather than monetary and economic stability as the objective into the mix, you confuse yourself when drawing out the right policy. With production as your objective for example, the right decision to take now is to cut interest rates, but from an economic stability point of view is it the right decision from all economic indicators in the country? The job of CBN is monetary and economic stability. Maintaining monetary and economic stability has nothing to do with stimulating production. Learn o or continue to try and correct me.
Pat Utomi, the CBN(Cardosso) is doing the right thing to curb the excess "ways and means "that the previous CBN governor implemented that has been the cause of the oversupply of Naira in the economy. The CBN should focus on monetary policies and let the minister of finance figure out how he will stimulate production
You people keep blaming the past administration lol. The earlier we all realize these problems are from this administration the better for all of us. You floated a currency of a country that is not producing. The country now will have more difficulties producing because of high interest rates and increased taxes (especially the electricity - needed for production). Big multi companies have left, they didn’t leave because of Emefiele. Better wake up!
Not again. Please, he didn't say CBN should take over other responsibilities other than what they stand for. He said they should make their policies in a way that it promotes stimulating production. I hope you know that monetary policies can affect fiscal policies, and vice versa, because both are tools used to manage a country's economy.
The CBN through monetary policy instruments like interest rate reduction can make credit facilities cheaper for businesses to acquire loans. On the other hand, the government through it fiscal policy instrument of tax cut can stimulate businesses. Hope you get the point now?
@@innocentogonna6963 You need to understand the Orthodox policies. Inflation rate can come with lower interest rate Oga . It took US 2yrs to reduce their interest rate and it was due to decline inflation numbers. I think government at all levels should just come up with more cushion effects and with time they relax the interest rate
Pat ○ Tinubu is doing the right things, Naira was overvalued for too long. Naira must be allowed to find his level. Overvalued or subsidised Naira will lead to destruction of locally produced goods and if you overvalued your currency whatever you produced will overpriced and no one will buy them and that was Nigeria for over 65 years.
I hate this talk of naira finding its value. Naira value is what you make of it. 1600 or 1700 is not naira’s value and no one can state what this value should be. Let’s focus on stabilising and strengthening it and forget this real value talk. Last year, Wale Edun said real value should be 750. This year, Cardoso said at 1200, naira is grossly undervalued. So how can 1700 be the true value of the naira? There’s no true value. True value is what we want it to be.
I hope you're not as ignórant as you sound oga. Naira find it's level, how? Before your man came into power, the parallel market which some people say mirrors the actual price against the fixed official price was 720. He came in and the whole thing crashed above1700 and you're talking about finding its level. So, if it keeps crashing to 10,000 you'll still say it's finding it's level? Once again, I hope you're not as ignórant as you sound.
PAT UTOMI USED TO DANCE BEHIND PBAT, ALSO UTOMI WHILE RUNNING PHB WAS NOT LIVING SMALL LIFE TOO. HE SHOULD STOP TALK AROUND WHAT GOVERNMENT IS BUYING BCOS MOST STAFFS OF THE BANK THEN COULD NOT BUY BIG JEEPS LIKE HE WAS USING THEN
He has talked about what led to that video, Go and search for it. You make it sound like he's jobless and dances beside Tinubu. I don't know how old you are, you don't know Utomi led Patito's Gang with Abati in the 90s.
@@Ninenifea I don't even know anything😂😂. I ain't a dull person that dislike people bcos of their ideology. I admire him bcos he's intelligent unlike some people that hates on behalf of a man who had courted parties but now forming saint. Lamba
Pat Utomi, enough of this cho cho cho ... The solution to Nigeria's problem isn't academic! We ain't producing anything and we're too sycophantic as a people to speak truth to power! The military is crippled, Cardoso and his CBN are confused, and the ministers are nothing to write home about! What a bulabalistic emi lo kan!
@@okunomokhudu5565 In what way? So you think we are actually producing, we ain't sycophantic, our military isn't crippled, and the ministers are up and doing? Abeg gettat!
One of the true remaining patriotic voices in Nigeria. Time is running out to CHANGE things in Nigeria. Thanks, Prof Pat Utomi, for your erudite intellectual deliveries on Televison, as you do always.
What patriotic voice the man was among those who ousted Jonathan and ushered in APC and Buhari what a fraud
Inflation can be categorised broadly as one of the following 2: 1) Demand Pull Inflation(too much money in circulation) and 2) Cost Push Inflation (cost of factors of production are high but not linked to increased demand). Inflation in Nigeria is one largely of Cost push which is largely linked to Naira devaluation! If we dont reign in the unchecked devaluation of our currency, no monetary policy will solve our Inflation problem.
You dey mind the so called leaders? It seems no one is thinking right in Nigeria. Most of our leaders in all aspects of the structure of the country, are just too lazy to think hence why they keep patching issues rather than tackle them.
U captured the whole problem, yet this neanderthals called our leaders are busy calling our inflation a demand pull inflation.
If you analyze it that way you miss the root cause. The root cause is the too much money that was printed and decline in USD inflows from crude oil and other sources. Also one of the causes is that Aggregate Supply and our health, education and physical capital stock has been rotting away restricting Aggregate Supply. That too much money has ended up pursuing the scarce USD causing a decline in the value of the naira and hence sent inflation spiralling. Only solution now is investment to boost productivity by increasing Aggregate Supply. Also there needs to be the fiscal will / drive to pursue the right fiscal policies.
Prof Pat is one of the brightest minds from Nigeria!
Always on point👐
He has been saying these things for over a decade yet the government always ignores them.
Why either
1) He's completely wrong
or
2) The government feel their disastrous past is the "right one"!
I believe Prof Utomi knows what he is talking about.
🎉😊...This is the best breakdown of the blueprint plaguing nationwide in Nigeria even with a solution management strategy for the government to engage on...thanks Prof Pat Utomi
Tremendous respect to Prof Pat Utome. A rare asset a society can have. Hope one day Prof will get to position of influence in Nigeria, the country is in dare needs of people like you.
He already got there. He fumbled
@@mikolowiskamikolowiska4993
How? Explain in clear terms
He helped ushered in APC and Buhari so he is a fraud
We are blessed to have a person like you. One day a true patriotic leader will arise and implement the economic blueprint you left in PDP, APC, Labour Party and probably in the new Party that is on the way.
👍 professor pat utomi.. You are one of a kind...
"Values shape human progress" Prof Pat Utomi
Prof Pat. Utomi, you're indeed a genius and interested in youth affairs,
Who interest Epp
Until the people who have captured the state for selfish reasons are dislodged; no amount of goodwill can save Nigeria.
SMH you go tey for where you de
Abeg, Professor Utomi, is a real professor, not these those quota system professors. An intellectual and patrotic Nigerian. Thanks, Prof., for inspiring us- even in our broken state that the Nigeria of our dream is possible!
Pat Utomi, may your tribe increase!
Values shape human progress. Great quote ❤
Dear Prof, you can’t force a rat to turn into a Lion. Hoping and thinking that Buhari was was going to adhere to whatever blueprint you guys had was just a joke. Buhari has never pretended to be anything but good in his life
I hear "increase production" many times. Has he forgotten Nigeria has epileptic power supply? Where are the machineries to increase production, locally made or imported? How about human capital, Nigerian engineers, can they solve real-world problems or are engineers coming from India and China? Comparing Germany with ready infrastructure and human capital in those days to Nigeria now makes no sense.
How many have they thrown to them
You can start with mechanised agriculture in clusters while repurposing the educational sectors
Power is important but more important in producing finished goods. We don't need much power to produce raw materials and export. With the money, we can invest and fix power
Can you improve wealth without production increase?
You have forgotten that boosting and stabilising our national energy and power amenities is a key component in the blueprint to create a productive economy and steer away from the current consumption-based, profligate economy.
Nigeria's 64th Independence Anniversary
This will be my independence day post
(Values shape human ptogress - Prof. Pat Utomi)
How we have someone like Pat Utomi and have refused to tap into his brain baffles me. Are we cursed with bad leaders in Nigeria? I mean, what is all these na?
😅😂😂Dr Reuben!! Lagos, my foot...
The values of the Leadership elite are off track. Full stop.
Nigeria have no excuse to be poor because it's blessed with everything except leadership. The factors of production as we know includes capital,land(in case of Nigeria very fertile), equipment and of course water.All this are abundant in the God given country.Being a highly diversified country (nation in a nation)probably the way to go is true federation or confederation and it should provide a fair competitive enabling environment with the right public relations orientation discourse tended to patriotism.We should speak well of ourselves and the country.The Americans say by any opportunity 'God bless America 'Nigerians can say the same whole heartedly and be proud of the country.
This is an interesting take, given CBN is stifling production.
How
@@mikolowiskamikolowiska4993 By increasing interest rates
@@mikolowiskamikolowiska4993what’s your how please?
Purpose
Is it not clear to the deaf and dumb can hear it!
@@mikolowiskamikolowiska4993rising interest rates
There is no tribal or Religious majority absence of leadership whose VALUES will impact the rest.
I know what is going through pats mind,abati,right,he is one of those that got us to where we are today.i get you pat,you disappointed.
Excessive talk and grammar Prof Utomi- some professor. What difference has these “intellectuals” done to our lives - they talk they run away . Empty barrels.
Mr Pat Utomi, you can't ask the central bank to stimulate production which is the job of fiscal policy. Fiscal and Monetary policy all have their responsibilities in an economic system. I don't want to believe someone of your level is calling for a marriage of fiscal and monetary responsibilities. You should know why fiscal and monetary policy should focus on their contributions to the economy. We've seen CBN try to intervene in production through the Anchor Borrower's Programme, what you're calling for is similar to this. This is kangaroo economics. Fiscal policy through government agencies should be the only route to stimulate production. Government agencies will be better placed to work with industry stakeholders to determine how to responsibly spend production intervention funds and determine the best policies. The CBN should continue to focus on ONLY it's mandate of monetary policy and economic stability of which the components to be managed closely will include inflation (price stability) and unemployment.
He didn't say CBN should take over other responsibilities other than what they stand for. He said they should make their policies in a way that it promotes stimulating production. I hope you know that monetary policies can affect fiscal policies, and vice versa, because both are tools used to manage a country's economy.
@@kayodethomas6460 What part of stimulating production is not the job of a central bank don't you understand? This is the economics you people continue to practice and ruin the country and we will be watching you and laughing. Policies you mention have to be targeted towards achieiving a particular objective. The moment you throw in production rather than monetary and economic stability as the objective into the mix, you confuse yourself when drawing out the right policy. With production as your objective for example, the right decision to take now is to cut interest rates, but from an economic stability point of view is it the right decision from all economic indicators in the country? The job of CBN is monetary and economic stability. Maintaining monetary and economic stability has nothing to do with stimulating production. Learn o or continue to try and correct me.
👏🏿👏🏿👏🏿👏🏿
Pat Utomi, the CBN(Cardosso) is doing the right thing to curb the excess "ways and means "that the previous CBN governor implemented that has been the cause of the oversupply of Naira in the economy. The CBN should focus on monetary policies and let the minister of finance figure out how he will stimulate production
“CBN is doing the right things” you said, even with the wastes, over bloated and high cost of governance. Ok!
You people keep blaming the past administration lol. The earlier we all realize these problems are from this administration the better for all of us. You floated a currency of a country that is not producing. The country now will have more difficulties producing because of high interest rates and increased taxes (especially the electricity - needed for production). Big multi companies have left, they didn’t leave because of Emefiele. Better wake up!
You don't know the meaning of ways and means and it's very clear. Una go just come online begin use terms wey una no know the meaning.
@sulaak Don’t be a MORON. The Tinubu administration is STILL PRINTING MONEY. There is no difference between the Tinubu and Buhari administration…
Not again. Please, he didn't say CBN should take over other responsibilities other than what they stand for. He said they should make their policies in a way that it promotes stimulating production. I hope you know that monetary policies can affect fiscal policies, and vice versa, because both are tools used to manage a country's economy.
Talk and talk and talk
Prof hope you will join the protest most of your likes destroyed my country
Protest! Then what?
Prof Pat Utomi, erudite academic.
This prof talk much, if is givijg leadership to govern Nigeria I don’t think he can do a lot tbh
HOW IS IT CBN JOB TO STIMULATE PRODUCTION?
The CBN through monetary policy instruments like interest rate reduction can make credit facilities cheaper for businesses to acquire loans. On the other hand, the government through it fiscal policy instrument of tax cut can stimulate businesses. Hope you get the point now?
@@innocentogonna6963 You need to understand the Orthodox policies. Inflation rate can come with lower interest rate Oga . It took US 2yrs to reduce their interest rate and it was due to decline inflation numbers. I think government at all levels should just come up with more cushion effects and with time they relax the interest rate
Baba no merger can fight this CUTRENT INEC
So far as INEC does their nonsense and the Judiciary gives its stamp of approval, it is business as usual.
This man can run mouth. It's someone with double mouth
Pat ○ Tinubu is doing the right things, Naira was overvalued for too long. Naira must be allowed to find his level. Overvalued or subsidised Naira will lead to destruction of locally produced goods and if you overvalued your currency whatever you produced will overpriced and no one will buy them and that was Nigeria for over 65 years.
I hate this talk of naira finding its value. Naira value is what you make of it. 1600 or 1700 is not naira’s value and no one can state what this value should be. Let’s focus on stabilising and strengthening it and forget this real value talk. Last year, Wale Edun said real value should be 750. This year, Cardoso said at 1200, naira is grossly undervalued. So how can 1700 be the true value of the naira? There’s no true value. True value is what we want it to be.
“Tinubu is doing the right things,” you said, even with the wastes, corruption, over bloated and high cost of governance. Ok!
Even if Tinubu is leading you to your grave, I know you will gladly applaud him.... Continue
Production will strengthen naira. What we can not sell we can use to develop further. MASS Production must be in play for naira to find its value
I hope you're not as ignórant as you sound oga. Naira find it's level, how?
Before your man came into power, the parallel market which some people say mirrors the actual price against the fixed official price was 720. He came in and the whole thing crashed above1700 and you're talking about finding its level. So, if it keeps crashing to 10,000 you'll still say it's finding it's level?
Once again, I hope you're not as ignórant as you sound.
PAT UTOMI USED TO DANCE BEHIND PBAT, ALSO UTOMI WHILE RUNNING PHB WAS NOT LIVING SMALL LIFE TOO. HE SHOULD STOP TALK AROUND WHAT GOVERNMENT IS BUYING BCOS MOST STAFFS OF THE BANK THEN COULD NOT BUY BIG JEEPS LIKE HE WAS USING THEN
He has talked about what led to that video, Go and search for it. You make it sound like he's jobless and dances beside Tinubu. I don't know how old you are, you don't know Utomi led Patito's Gang with Abati in the 90s.
@@Ninenifea I don't even know anything😂😂. I ain't a dull person that dislike people bcos of their ideology. I admire him bcos he's intelligent unlike some people that hates on behalf of a man who had courted parties but now forming saint. Lamba
@@Ninenifea The man helped usher in APC and brought in Buhari
Pat Utomi, enough of this cho cho cho ... The solution to Nigeria's problem isn't academic!
We ain't producing anything and we're too sycophantic as a people to speak truth to power!
The military is crippled, Cardoso and his CBN are confused, and the ministers are nothing to write home about! What a bulabalistic emi lo kan!
Did you even listen to the interview at all?
You have a right to your opinion however your position lacks serious validation
@@menubachinedu9135 I guess your hollow brain registered I didn't
@@okunomokhudu5565 In what way? So you think we are actually producing, we ain't sycophantic, our military isn't crippled, and the ministers are up and doing?
Abeg gettat!
Pat "De Thief" Utomi
Bola “Amoda Ogunlere” Tinubu the drug trafficking certificate forger 😂🤣😂…