I pray for oil price to stay down for long – Prof. Utomi

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In spite of the economic hardship occasioned by the fall in oil price, management expert, Prof. Pat Utomi, has said his prayer is that the oil price ‘stay down for long.’

Read also: I abandoned N200m project because a governor wants bribe – Prof. Utomi

Prof. Utomi made known his wish for a low oil price for a long while at the ground breaking ceremony of Integrated Produce City (IPC), a private initiative championed by him and other investors at Ugbokun community in Ovia North East local government Area of Edo state.

Speaking at the occasion, “Let me shock you by saying that the recession we face in Nigeria is a golden opportunity. It is not a problem; it is an opportunity to finally get the Nigerian economy right.

“So without appearing to scandalise anybody, I actually pray for oil prices to stay down and stay down for a long time. Then, we will come to our senses and we will know that Nigeria really is a rich country.

“Right now, we are not behaving as we should be behaving. Competitively driven industrial policy ‎in select value chains will be helpful in confronting the misery index and bringing hope to millions,” Prof. Utomi said.

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