January 16, 2025
By Idris Buba
THE Federal Government on Thursday, responded to the Emir of Kano and former governor of central bank of Nigeria, CBN, His Highness, Muhammadu Sanusi II, statement at the 21st Memorial Lecture of Chief Gani Fawehimi in Lagos, where he reportedly said that he will not offer any advice to President Bola Tinubu’s led federal government on how to tackle the economic challenges facing the country.
The Minister of Information and National Orientation, Mohammed Idris, has in a statement, told Muhammadu Sanusi II, that the Tinubu led government, does not need his stamp of approval of the laudable policies of the government.
The minister, amongst other admonition, told the former governor of CBN, to rise above personal interests and partisan undertones and prioritize the greater good of Nigerians.
His Highness, Muhammadu Sanusi II, had at the 21st Memorial Lecture of Chief Gani Fawehimi in Lagos, reportedly quoted to have said: “I can give a few points here about what we are going through and how it was predictable and avoidable. But I am not going to do that. I have chosen not to speak on the economy, or reforms or to explain anything because if I explain it, it will help this government. But I don’t want to help this government. They are my friends, but if they don’t behave like friends, I won’t behave like a friend.
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“They don’t even have people with pedigree that can come and explain to the people what they are doing. I am not going to help. I started by helping, but I am not going to help. Let them come and explain to Nigerians why they are pursuing the policies that they are pursuing.
“But I will say this one thing though. What we are going through today is at least in part, a necessary consequence of decades of irresponsible management. People were warning that if we continued the way that we were going, this is how we will end up but they refused to listen.
“Now, is everything being done correctly? No. When I am ready to talk about the economy, I will.” Sanusi said.
Reacting to the Emir’s comments, Minister of Information and National Orientation, in a statement, expressed disappointment at the Emir’s alleged negative comments on the reforms of Tinubu’s administration because of his alleged “shift in loyalty.”
“The Federal Government notes the recent remarks by His Highness, Emir Muhammadu Sanusi II, regarding the economic reforms introduced under President Bola Ahmed Tinubu’s administration, at a public event in Lagos. We note the emir’s acknowledgement of the noble initiatives which, he said; he could explain away but for his decision “not to help the government.”
“First, we acknowledge that Sanusi, and indeed any Nigerian, has the inalienable right to express an opinion either in form of commendation or criticism on how the government is being ran. However, we find it amusing that a leader, more so one from an institution that ennobles forthrightness, fairness, and justice would publicly admit to shuffling off saying the truth because of personal interest hinged on imaginary antagonism.
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“It is pertinent to state that Nigeria is at a pivotal juncture where bold and decisive actions are necessary to tackle entrenched economic challenges. This administration has implemented transformative reforms not because they are easy, but because they are essential for securing Nigeria’s long-term stability and growth, as Emir Sanusi had consistently advocated.
“The temporary pains currently experienced from these inevitable decisions, as Sanusi himself acknowledged, are a “necessary consequence of decades of irresponsible economic management” more than anything else.
“These reforms are already delivering measurable progress. The unification of exchange rates has bolstered investor confidence, which has contributed to increased foreign reserves and strengthened Nigeria’s ability to shield itself from external economic shocks.
“The removal of the fuel subsidy has freed up significant resources, allowing for greater investment in critical sectors such as infrastructure, education, and healthcare. Projections from respected institutions, including the World Bank, show an upward trajectory in Nigeria’s GDP, signalling that our economy is firmly on the path to recovery.
“Additionally, by addressing inefficiencies, the country has reduced its debt service-to-revenue ratio, creating a more sustainable fiscal framework for future generations.”
The statement further said: “It is deeply disappointing that reforms widely recognized as essential by global experts including by Emir Sanusi II himself are now being subtly condemned by him, given his background in economics, the Emir, has a unique responsibility to contribute constructively rather than undermine reforms aimed at collective progress of the country.
Idris, urged all Nigerians to have faith in the administration of President Bola Ahmed Tinubu.
