Professor Pat Utomi has called on Nigerians to stop blaming the current recession being experienced in the country on the fall in crude oil price.

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He said those attributing the recession to the fall in crude oil price are bad managers as the present administration should have foreseen the situation and take precautions by being futuristic in it budget planning and resource management.

Professor Utomi made this disclosure while speaking as a guest lecturer at the Dr. Emmanuel Egbogah Budget Roundtable organized by the Business School of the Nnamdi Azikwe University, Awka, Anambra State.

He said “Our major problem is that we lack planning and budget discipline. In beginning of a budgeting process, it must be matched with where the people are going; but beyond revenue and expenditure, the budget has to do with discipline and execution.”

“Those blaming the fall in oil price are just bad managers. That was not the cause of this recession.”

Speaking further at the event, Utomi pointed out that the sad situation the country is in today can be traced to the 1966 event when some military men overthrew a democratic government, adding that the same set of people had remain in power ever since in different guises .