Our Reporter, Abuja
Political economist and former presidential candidate, Professor Pat Utomi, has warned against squandering any economic windfall that may arise from tensions around the Strait of Hormuz, while describing the 10th National Assembly (NASS) as a liability to Nigeria.
Utomi, in a post on X, said Nigeria needed laws to prevent the misuse of any potential gains that could come from disruptions in the global oil market, but expressed doubt over the capacity of the current National Assembly to provide such safeguards.
“If we had a NASS I would suggest laws that would checkmate the squandering of Hormuz windfall. But the Akpabio Assembly does not exist,” Utomi wrote.
The former presidential candidate was referring to possible increased oil revenues Nigeria could benefit from if geopolitical tensions around the Strait of Hormuz affect global crude supply and prices.
Utomi also took a swipe at the leadership of Senate President Godswill Akpabio, describing the legislature as ineffective and lacking value to Nigerians.
“In Cost Benefit terms the 10th Assembly is all costs no benefit to the Nigerian people,” he added.
His comments come amid growing scrutiny of the National Assembly’s oversight role and criticism from some quarters over its relationship with the executive.
Recall that the Nigerian military government under General Ibrahim Babangida was alleged to had frittered away the huge oil windfall that accrued to the nation as a result of the gulf war in the early 90s.
