The Emir of Kano, Alhaji Sanusi Lamido Sanusi, on Friday in Abuja blamed President Muhammadu Buhari‘s administration over poor economic policies. He stated that Buahri’s policies could not fix the nation’s economy.
The former Central Bank of Nigeria’s governor stressed that borrowing $30billion will have dire consequences on the nation’s economy.
Sanusi said this in his paper titled: “A plan to restore confidence, direction and growth,” at a policy dialogue organised by an economic think tank, the Savannah Centre for Diplomacy, Democracy and Development. He maintained that “the problem of the current government is not having the right policies to fix the current economic woes.”
He urged that the Federal Government should embrace private sector investments as a means of pushing the economy out of recession, rather borrowing funds that will mortgage the nation’s future.
The Emir also said oil could not help Nigeria out of the current economic situation because it would “never make Nigeria rich.”
“I can tell you for free, if the Senate today approves that we can borrow $30bn, honestly, no one will lend to us. It should be approved and I will like to see how you will go to the international market with an economy that has five exchange rates.” He said
Sanusi further said the country’s population had increased by over 40 million people since 2015, saying that unfortunately, the government had found it hard to increase capital expenditure.
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