Prominent economist and Labour Party stalwart, Pat Utomi, has sounded an alarm over the potential for the naira to plummet to N10,000 per dollar unless immediate action is taken.
He voiced this concern at an event marking the first anniversary of the 2023 presidential election, organized by activist Moses Paul.
Utomi underscored the pressing need to address the nation’s worsening condition, noting a growing disconnect between citizens and those in power, with the latter failing to effectively represent their constituents.
He insisted on the immediate redirection of the country’s course, arguing that waiting for the next election cycle is not a viable option.
Utomi urged citizens to take the initiative in rectifying the situation, cautioning that without sufficient intervention, the naira could devalue to N10,000 per dollar.
“Our nation is on the brink of collapse; it’s collapsing because the populace doesn’t feel represented by those in power, and those in power are out of touch with the people,” Utomi stated.
“They’re not acting in the best interest of the people, and everything is spiraling downwards at an alarming rate.
“This is about seizing the moment and acting as responsible citizens to get our country back on track immediately.
“We can’t afford to wait for the next election (2027) before we take action; we need to reclaim our country now.
“We need to step up now because we have the knowledge and the solutions that they lack. If we don’t establish our own security system, there will be no production, and without production, I assure you, the naira will hit N10,000 per dollar.”
