How An Inexperienced Boy Owns Private Jet Under Buhari's Administration- SLS

By Mohammed Bello Doka. 

In a recent video message to Nigerians, the former Emir of Kano, Muhammadu Sanusi II, has spoken out against the economic policies implemented during former President Muhammadu Buhari's administration. Sanusi, who is also a former governor of the Central Bank of Nigeria (CBN), criticized the lack of expert advice and the influence of sycophants on the country's economy.

Sanusi highlighted the detrimental impact of excessive borrowing on Nigeria's economy. He revealed that during the past administration, an "inexperienced boy" was able to own a private jet, indicating how financial irresponsibility had become rampant. With a staggering debt of approximately N30 trillion borrowed from both within and outside the country, the revenue generated failed to cover the debt servicing costs. This situation eventually limited Nigeria's ability to borrow further.
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Addressing the concerns of those who have asked him to speak about the current economic situation, Sanusi explained that this was not the appropriate time to do so. He drew a parallel between the situation and a reckless driver who, despite being warned about an impending crater on the road, ignored the advice until it resulted in unavoidable damage.

Sanusi emphasized the importance of patience with the current administration led by President Bola Tinubu. While acknowledging the difficulties faced by Nigerians, he expressed his belief that it was crucial to wait for the right moment before making any criticisms. However, he assured the public that if the government were to deviate from the right path, he would not hesitate to voice his concerns.
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The former Emir also shed light on the issue of subsidies and the government's inability to pay them due to financial constraints. He explained that without the option to borrow, implementing additional taxes became necessary. However, printing more naira would lead to a sharp increase in the value of the dollar, resulting in further economic instability. Sanusi highlighted the significant change in the dollar-to-naira exchange rate over time, illustrating the ongoing challenges faced by the country.

Sanusi's remarks underscore the need for sound economic policies based on expert advice and highlight the consequences of disregarding such guidance. As Nigerians look toward the future under new leadership, the importance of prudent decision-making and a commitment to addressing economic challenges becomes increasingly apparent.

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