Former Emir of Kano, Dr. Lamido Sanusi has attributed the current economic challenges to the administration of former President Muhammadu Buhari.
Sanusi, who is also a former governor of the Central Bank of Nigeria asserted that it was unjust to hold President Bola Tinubu’s administration responsible for the prevailing economic hardships in the country. According to him, Nigeria is grappling with a failing economy as a result of mismanaged economic policies over the past eight years.
Speaking virtually on Sunday at a religious event in Abuja, Sanusi emphasized that he would not join those intent on criticizing Tinubu for the current economic challenges in the country.
He said, “I have been, over the years, talking about the pending crisis ahead of the current economic hardship. Any economist who has studied monetary policy in the last eight years knows that Nigerians will fall into this difficult situation.
“The difficult situation Nigerians are facing is just the beginning (if the right decision is not put in place) because Nigeria is not exceptional, such situations happened in Germany, Zimbabwe, Uganda, and Venezuela.
“The previous administration turned adamant about our appeal for corrective measures (on the economic policy). I have said in the presence of the now sitting president, in Kaduna State, any politician who tells you that things will be easy, don’t vote for him because he is lying. People merely dismissed my advisory as a political statement.
“If I am to be fair and just to President Tinubu, he is not to blame for the current hardship. For eight years, we were living a fake lifestyle with huge debt from foreign and domestic debts. The Central Bank of Nigeria owes over N30 trillion, which resulted in debt service surpassing 100 percent.
“I can’t join other Nigerians criticising Tinubu on the current economic hardship, and I am not saying he is a saint free from wrongdoing, but in this current economic situation, President Tinubu is not to be blamed. I will also speak if I see any wrong economic policies of the Tinubu administration in the future.”