The Emir of Kano, Muhammadu Sanusi II, has said Nigeria was on the verge of economic collapse before President Bola Tinubu assumed office in May 2023.
Sanusi made the remarks on Tuesday at the Oxford Global Think Tank conference, where he acknowledged the need for the Tinubu administration to address the country’s economic challenges while urging the government to listen more to Nigerians.
The former Governor of the Central Bank of Nigeria (CBN) cautioned the Presidency against dismissing public complaints about poverty and economic hardship, stressing that Nigerians should be allowed to express their concerns without being labelled enemies of the government.
According to him, Nigeria’s economic situation had become critical before the change of administration in 2023, with the country facing the risk of hyperinflation.
“People need to understand that we were on the brink of economic collapse in 2023. It’s something I’ve been saying since I was Central Bank of Nigeria, CBN, Governor.
“It’s not every time people talk about poverty that you just issue a statement from the Villa and condemn them as enemies of the government or an attack on the President.
“I personally think that in terms of pulling back from the brink, dealing with inflation, we were heading towards hyperinflation,” Sanusi said.
His comments highlighted the importance of acknowledging the country’s economic difficulties while responding to public concerns about rising living costs and declining purchasing power.
