The previous Emir of Kano, Muhammadu Sanusi Lamido II, has voiced deep concern over the current status of the country.
When President Muhammadu Buhari took over from Goodluck Jonathan in 2015, he declared Nigeria was in a much worse state than it is right now.
Akinjide Adeosun Foundation (AAF) leadership colloquium and awards were held on Thursday in Lagos, Nigeria, where Sanusi gave a speech as part of her speaking engagement.
During this time of rising oil prices, just one oil-producing country is mourning: Russia and Ukraine. Our overall revenue is insufficient to pay off our debt. We’re in a terrible mess, and if someone doesn’t get it, we are.
By the end of 2015, we had dug ourselves a big hole. And since 2015, we’ve only managed to further impoverish ourselves.
“In 2015, we believed we had a major issue,” he says. In comparison to what’s to come in 2023, 2015 is a drop in the bucket. They think we’ll thank them when they leave government because we’ve had terror, banditry, inflation, and an unstable currency rate. In the end, nothing changes.
“There is no urgency in this situation.” You know you’re bankrupt if you can’t pay the interest on your debts.
“We’re smiling when the federal government’s overall revenue isn’t enough to service its debt. These are the kinds of questions we should be asking ourselves. There are a lot of Nigerians who are capable of doing well but aren’t able to compete in that arena,” he remarked.
The difficulty, according to the former CBN governor, is due to a lack of vision among some of Nigeria’s leaders.
What is our vision for Nigeria? What do we want our country to be when we grow up? Do we have a vision of a single, harmonious nation made up of people from many different backgrounds and religions?
Even though Nigeria has had several presidents, the most of them did not see the country as one country. For how many years would you desire to be remembered, as a president or governor or minister or governor of the Central Bank of Nigeria? What do you want to be remembered for? They haven’t given it any consideration.
Many elected officials have only a short-term perspective in mind,” he says. It’s all about winning. Then, when you’ve won, you’ve arrived at the end of the voyage, not the beginning. “