According to Alhaji Muhammad Sanusi, former Emir of Kano, Nigeria has shown no progress in 40 years. At a colloquium celebrating his 60th birthday, Sanusi made this statement.
There is a need for growth in the economy, according to the former Governor of the Central Bank of Nigeria (CBN).
‘I’ve paid the price for speaking the truth’
He claimed to have paid a price for telling the truth, but Nigerians were the ones who suffered “in forms of poverty, insecurity, and high inflation”.
When you live in a society that is so abnormal, you cannot afford to be a conformist because if we all conform, nothing will change.”
“Many years ago, when I was screaming about the billions being spent on fuel subsidy, there was an attempt on my house in Kano. I was then in the CBN. What are our current circumstances? The reality is that fuel subsidies are unsustainable.
‘We must face the facts’
“Calling me an enemy or critic will not change those facts. We must face these facts wherever we go. I have not said much, not because there is nothing to say or I am afraid to speak. I have not spoken much in the past two years because all the things we warned about have happened, so I don’t have to say anything anymore.
Where did we stand according to the World Bank in 2019? In two years, the average income of a Nigerian will have returned to what it was in 1980 under Shehu Shagari based on purchasing power parity. That means we made no progress in 40 years; 40 years wasted.
In order to improve the lives of the people of this country, we have a responsibility as a people. Everyone must go to the fire with a bucket of water when there is a fire. We must understand how our economy works as a people, and we must understand our choices.
This shout about restructuring is about economics; it is about resources. It is important to grow this economy and make it work for the poor.”
Aminu Tambuwal, governor of Sokoto State, Kingsley Moghalu, governor of Kaduna State, Dr. Hadiza Balarabe; and ambassador Ahmad Nuhu Bamali, emir of Zazzau, attended the colloquium.
Governor Nasir El-Rufai joined virtually from abroad.