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Emir of Kano, Muhammad Sanusi II, largely supports President Bola Tinubu’s economic direction, agreeing with about 80 percent of the policies, especially commending the administration for monetary policy stability and improvements in fiscal discipline, such as better revenue-to-GDP and debt service ratios, and a contracting deficit. 📈
Key Reservations and Concerns
Despite this praise, Sanusi has significant reservations about fiscal management and food importation.- Fiscal Expenditure: He stresses that the government must address the “quality and efficiency of public spending.” He argues that the cost of governance is too high, citing excessive political appointees. Without reining in expenditure, Nigeria will continue to borrow and risks falling into a debt trap by spending post-subsidy savings imprudently.
Food Importation: Sanusi views the policy of mass food importation as “counterproductive” to local producers, even though it’s aimed at reducing food prices. He advocates for structural reforms in agriculture to strengthen the value chain, boost domestic production, and achieve sustainable food security.
https://www.youtube.com/watch?v=-Kp_7N0FSUY?si=zeWCAkaVCQn-3M3O
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