Sanusi to Tinubu: "You’ve Filled One Hole Only to Dig Another"

• Emir of Kano and the former governor of the CBN, Muhammadu Sanusi II, has warned President Bola Tinubu against excessive borrowing
• Sanusi, who spoke at an event on Monday, October 28, said that the reforms President Tinubu started would be jeopardised if the country's wealth is not properly managed
• The Emir then commended the president for removing the fuel subsidy and unifying the naira, adding that they're painful but necessary

Muhammadu Sanusi II, the Emir of Kano and the former Central Bank of Nigeria (CBN) governor, has claimed that President Bola Tinubu is digging another hole for Nigeria by borrowing, after filling one, which is the removal of the fuel subsidy.

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The grand Khalifah of the Tijaniyyah group in Nigeria queried the rationale behind the borrowing of President Tinubu's administration, adding that Nigeria's revenue has increased since the removal of the fuel subsidy.

Sanusi speaks on Tinubu's government

According to Daily Trust, Sanusi made the remark while speaking at the Oxford Global Think Tank Leadership Conference and Book Launch, in Abuja on Monday, October 28.

The traditional ruler then commended the administration of Tinubu for unifying the exchange rate and removing the fuel subsidy, adding that though the steps are painful but they are necessary for the country.

However, Sanusi warned that the reforms would fail if the government did not match the energy with fiscal discipline and transparent spending. He noted that the major challenge now is "the quality of government spending and the management of the revenues saved.”

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Sanusi shades APC: "You have to give Jonathan the credit"

The former CBN governor told Tinubu's administration that if you "stop paying subsidies but continue borrowing more, it means you’ve filled one hole only to dig another."

Sanusi commends Jonathan on fuel subsidy

Recall that the Emir was CBN governor when former President Goodluck Jonathan first removed the fuel subsidy. He noted that the ex-president should be given the credit for taking the bold step then, even though Tinubu and some APC leaders staged protests then.

According to Sanusi, Jonathan did not return the subsidy because of Tinubu and other APC chieftains' protests, but because of the activities of Boko Haram. He explained that su!cide bombers are everywhere, and if protesters are bombed and 200 people die, the debate would no longer be about fuel subsidy.

He clarified that the protests by Tinubu and other opposition leaders then were not the reason Jonathan suspended the fuel subsidy removal. He recalled asking one of his friends in the APC why they were protesting, knowing well that the government was doing the right thing, but his friend told him that he was in the opposition and his job was to make the administration look bad.

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Sanusi says Nigeria lacks quality leadership

Kano Emir Sanusi speaks out

Legit.ng earlier reported that Alhaji Muhammadu Sanusi II, Emir of Kano, has lamented that Nigeria has not been fortunate with quality leaders for a long time. As reported by Daily Trust, Sanusi said the country has been having "lousy" leaders for many years.

The first-class monarch spoke on Saturday, September 13, at the second Kano International Poetry Festival (KAPFEST) in Kano.

According to Sanusi, genuine good governance is key to the salvaging the country from its current 'unpleasant' condition.

Source: Legit.ng