Fresh criticism of President Bola Tinubu’s economic reforms by political economist, Professor Pat Utomi has drawn a strong response from the Presidency, escalating debate over the administration’s policy direction.
In a statement on Wednesday, presidential aide, Sunday Dare dismissed Utomi’s comments, describing them as exaggerated and lacking in substance.
Dare accused the political economist of engaging in “grandstanding and gloom”, saying his interventions were often more theatrical than analytical.
He also questioned the consistency of Utomi’s public commentary, arguing that his criticisms frequently collapse under scrutiny.
Defending the administration’s policies, Dare said the Tinubu government’s reforms were based on concrete fiscal actions rather than theoretical arguments.
He pointed to measures such as the removal of fuel subsidy and the unification of the foreign exchange market, which he said were already producing measurable economic outcomes.
According to him, the reforms have helped improve revenue flows to state governments and strengthened overall fiscal stability.
Dare also rejected Utomi’s description of the reforms as a “Ponzi scheme”, calling the claim “intellectually hollow” and lacking analytical depth.
He maintained that the reforms are aimed at blocking revenue leakages, improving transparency in the foreign exchange system, and restoring investor confidence in the economy.
The presidential aide further challenged Utomi to present viable alternatives to the policies he has criticised.
While acknowledging that the reforms have brought short-term economic pressures, Dare insisted they remain necessary steps toward long-term stability.
