Former CBN Governor Sanusi Reveals Only Solution to Nigeria’s Problem, Says Fuel Subsidy Must Go

Former CBN Governor Sanusi Reveals Only Solution to Nigeria’s Problem, Says Fuel Subsidy Must Go

  • Former Emir of Kano, Lamido Sanusi, urged Nigerians calling for the country's break up to have a rethink about the idea
  • Sanusi, who gave the warning in Lagos on Tuesday, August 24, said Nigeria would fare better in unity and peace
  • The ex-governor of the CBN also urged Nigeria's leaders to support the removal of the subsidy on fuel and electricity

Lagos - Lamido Sanusi, a former governor of the Central Bank of Nigeria (CBN), has again called on the federal government to take the difficult decision of removing subsidies on fuel and electricity in order to ensure that Nigeria survives its current crisis.

New Telegraph reports that Sanusi made the call in Lagos on Tuesday, August 24, while speaking at an event to celebrate his 60th birthday.

Read also

Former head of state predicts surprising event that will happen in Nigeria before the end of 2021

Sanusi says fuel subsidy must go
Former CBN governor Sanusi has asked the federal government to remove fuel subsidy. Credit: Lamido Sanusi.
Source: Facebook gathered that he said Nigerians have to know that the way the country going is not sustainable, adding that people have to make sacrifices.

He said:

Do you have a groundbreaking story you would like us to publish? Please reach us through!

“Nigerians have to understand that the way we are going is not sustainable. We cannot continue subsiding fuel, electricity. We have to make sacrifices. If we don’t make the necessary sacrifice and stop excessive borrowing, we are placing the future of our children in jeopardy. Those difficult decisions have to be taken to put this nation on fiscal sustainability.”

Sanusi warns against calling for Nigeria's break up

The former Emir of Kano noted that those calling for Nigeria’s breakup do not know what they are talking about as the country has the resources and talent to achieve its potential.

He also stated that it was the network he built in the country that enabled him to survive challenging periods such as when he was suspended as governor of the apex bank and when he was deposed as Emir of Kano.

Read also

2023: APC faces new threat as Atiku, Obaseki meet on how PDP will unseat ruling party

The former CBN boss, who revealed that he was put behind bars between June 1995 and June 1996 during the regime of General Abacha, said that the country has to step up investment in the education of women and the girl child.

He said that while he faced challenges during his time as CBN governor, the challenges were insignificant compared to what his successor, Godwin Emefiele, is facing, saying that if the government takes the right decision, the pressure on the CBN would be reduced.

Channels TV also reports that Sanusi defended calls for the removal of the subsidy on petroleum products.

Sanusi, who spoke at a colloquium to mark his 60th birthday in Kaduna, said payment of subsidy on petroleum products is unsustainable.

Okowa advises FG on how to use fuel subsidy funds

Meanwhile, had previously reported that Governor Ifeanyi Okowa of Delta state urged the federal government to re-direct fuel subsidy funds to healthcare and education services to touch the lives of poor Nigerians.

Read also

Bandits register with CAC, Nigeria Stock Exchange? Atiku goes fiery on FG

It was reported that the governor said that continued subsidy on oil amounted to supporting the rich at the expense of the poor.

Okowa made the call when he received the national executive committee of the Medical Women Association of Nigeria (MWAN) led by its president, Minnie Oseji, at Government House, Asaba on Thursday, June 10.


Online view pixel