EMIR OF KANO ON THE STATE OF NIGERIA’S ECONOMY

udeozochibuzo BLOG

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The Emir of Kano and former Central Bank of Nigeria governor, Alhaji Muhammadu Sanusi 11 has advised President Muhammadu Buhari to remove the subsidy on fuel if he wants the Nigerian economy to bounce back. 

Sanusi made the suggestion while speaking at the All Africa Business Leaders Award West Africa held in Lagos yesterday, October 23.

According to The Nation, Sanusi opined that Nigeria can no longer afford the many leakages that have affected its economy for a long time.

He said: “In the  first two quarters of this year, this country  spent over 500 billion naira on debt servicing. At end of this year, it will be over 1trillion  which is more than the amount of money budgeted for health, education and defence combined.

“There is no room in the government’s balance sheet for borrowing and spending. We have no option but to block leakages and to stop non-priority…

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