Sanusi Lamido, the former governor of the Central Bank of Nigeria, who is the 14th emir of Kano State and vice chairman of the Kaduna investment promotion agency has expressed his profound pity on the next president of Nigeria.
He made this statement on saturday, 15th October while addressing notable politicians at the Kaduna investment programme titled “Building A Resilient Community”.
Also, the Khalifah of the Tijaniyyah Movement of Nigeria, Sanusi Lamido further explained his concern over the Nigerian economy.
He had previously expressed regret that Nigeria’s economy was dependent on the oil and gas industry and that fuel subsidies had stymied economic growth.
According to data from the federation account allocation committee, the former governor of the Central Bank of Nigeria noted that only 50% of States generated enough revenue to cover salaries, expenses, and debt service.
Additionally, he adds that if this keeps up, Nigeria might find itself in a state of insecurity similar to Mali and Burkina Faso, where the military has taken control as a result of economic and political instability.
In his words,
“Nigeria has continued to be a rentier state. It does not exist for development but as a sight of rent and extraction to make those who control the state rich, turning them into billionaires overnight”
He makes it clear some people control the state and although their greed puts the country’s economy in jeopardy, they do not care as long as their pockets are filled up.
The severe damages sustained by the economy of Nigeria requires a long time of strategizing and hard work to make Nigeria’s economy stable again.
And this has triggered his pity towards the next president of Nigeria.
Can Nigeria’s economy be saved?
Who will bring back stability to the country’s economy?
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