The Emir of Kano, Muhammadu Sanusi II, has said that President Bola Ahmed Tinubu deserves credit for preventing Nigeria’s economy from sliding into a deeper crisis, pointing to improvements across several sectors.
Speaking at an event organised by the Oxford Global Think Tank in the United Kingdom, the former Governor of the Central Bank of Nigeria (CBN) said that although significant challenges remain, the country has begun laying the foundation for greater fiscal and economic stability.
Sanusi noted that Nigeria’s economy grew by 4.48 per cent in the second quarter of the year, while inflation declined from nearly 30 per cent to 14.6 per cent. He expressed optimism that inflation could fall further before the end of the year.
The Emir also highlighted the country’s foreign reserves, which he said had risen to $55 billion. He further noted that 20 per cent of Nigeria’s exports now come from the Dangote Refinery, describing this as an indication of progress in diversifying the country’s sources of revenue.
However, despite acknowledging these developments, Sanusi criticised the Tinubu administration’s communication strategy, saying the government lacks professional spokespersons and tends to interpret every piece of advice or criticism as an act of hostility.
