Former Emir of Kano, Lamido Sanusi, has restated his support for President Bola Ahmed Tinub’s economic polices, saying it is an injustice to blame his government for the current economic hardship the country is facing.
Sanusi said the country is battling a failing economy due to mismanaged economic policies of the past eight years.
Speaking on Sunday during a virtual religious event, the former Governor of the Central Bank of Nigeria, CBN, said Buhari’s administration failed to heed his counsel on how to salvage the country from economic woes.
He said he would not join those who are bent on criticising Tinubu over the current economic challenges in the country.
The former governor, Central Bank of Nigeria, however, vowed to criticise Tinubu if he sees any wrong economic policy in the future.
Sanusi said, “I have been, over the years, talking about the pending crisis ahead of the current economic hardship. Any economist who has studied monetary policy in the last eight years knows that Nigerians will fall into this difficult situation.
“The difficult situation Nigerians are facing is just the beginning (if the right decision is not put in place) because Nigeria is not exceptional; such situations happened in Germany, Zimbabwe, Uganda, and Venezuela.
“The previous administration turned adamant about our appeal for corrective measures (on the economic policy). I have said in the presence of the now sitting president in Kaduna state, any politician who tells you that things will be easy, don’t vote for him because he is lying. People merely dismissed my advisory as a political statement.
“If I am to be fair and just to President Bola Tinubu, he is not to blame for the current hardship; for eight years, we were living a fake lifestyle with huge debt from foreign and domestic debts. The Central Bank of Nigeria owes over N30 trillion, which resulted in debt service surpassing 100 percent.
“I can’t join other Nigerians criticising Tinubu on the current economic hardship, and I am not saying he is a saint free from wrongdoing, but in this current economic situation, President Tinubu is not to be blamed. I will also speak if I see any wrong economic policy of the Tinubu administration in the future, Stated.
He added that Tinubu’s decision to remove fuel subsidy should be applauded.
He said, “It’s injustice for anyone to blame the Tinubu administration for the current economic hardship because there is no other alternative than the removal of the fuel subsidy. After all, Nigeria cannot even afford to pay the subsidy. In the last eight years, the Central Bank continued to print more money, and the naira continued to depreciate. There is too much naira in circulation because the CBN is printing the currency without restraint.
“The economy was poorly managed, and they are not willing to take advice; in the last eight years, apart from sycophancy, nothing has been done; those sycophants are those buying the dollar at the rate of N400 and selling it at the rate of N600 to N700.
“A boy who has no record of service has a private jet and owns houses in Dubai and England just because he is buying dollars at so a rate and selling them.
“I can only plead with the people to endure the hardship, and those who have the means to help the downtrodden should do so.
“I am also pleading with commoners to live according to their earnings; we must not peg our lives above our earnings in this difficult situation where people are looking for what to eat.”
Meanwhile, Primate of the Church of Nigeria (Anglican Communion), Most Rev. Henry Ndukuba has called on President Bola Ahmed Tinubu to swiftly address the growing hunger and economic hardship facing Nigerians.
In a communique signed by key church figures, including Primate Ndukuba, the Dean, Most Rev Blessing Enyindah and General Secretary, Ven. Gershinen Paul Dajur, the primate emphasized the critical state of national affairs and called for repentance and resistance to apostasy.
The communique, issued after the church’s leadership meeting in Delta State, spotlighted the government’s plans and policy directions, the fight against corruption, judiciary concerns, the faltering economy, and the neglect of quality education.
Primate of the Church of Nigeria (Anglican Communion), Most Rev. Henry Ndukuba has called on President Bola Ahmed Tinubu to swiftly address the growing hunger and economic hardship facing Nigerians.
In a communique signed by key church figures, including Primate Ndukuba, the Dean, Most Rev Blessing Enyindah and General Secretary, Ven. Gershinen Paul Dajur, the primate emphasized the critical state of national affairs and called for repentance and resistance to apostasy.
The communique, issued after the church’s leadership meeting in Delta State, spotlighted the government’s plans and policy directions, the fight against corruption, judiciary concerns, the faltering economy, and the neglect of quality education.
It also condemned ongoing attacks across several states, urging the government and security forces to uphold their duty to protect citizens and their property.
The statement restated the need for a civil and democratic constitution that truly represents the populace, and ensures no group was sidelined or oppressed.
It read in part, “The standing committee meeting of the Church of Nigeria (Anglican Communion), therefore, calls on the President and government to rise to the occasion of the challenging issues facing the nation.
“All corrupt public office holders and their collaborators should be brought to book and disciplined accordingly. We call on the judiciary to do more to guarantee justice in the country.
“The Nigeria economy has been a subject of great concern due to its diverse and biting challenges.
“It is currently at its lowest ebb since independence with macro-economic indicators moving in discouraging directions. Monetary policies have been inconsistent, non-supportive of economic growth, ineffective and cost-push inflation has been out of control resulting in high food prices. Nigerians are hungry.”
It called on the government to rethink its penchant for external borrowing, give proper attention to fiscal policies, and diversify its economic base “by harnessing our abundant natural resources.”
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