Palliative: Sanusi Finally Speaks on Tinubu's Cash Transfer

• President Bola Tinubu has been commended for the condition of cash transfer and other palliatives that his administration embarked upon to cushion the effect of the fuel subsidy removal
• Muhammadu Sanusi, the former Emir of Kano, stated that the palliative was the short-term plan to sustain the removal of the fuel subsidy
• The former CBN governor maintained that the long-term plan for the fuel subsidy removal was to reduce the overreliance on the use of petrol

Ikeja, Lagos - Muhammadu Sanusi, the former Emir of Kano and ex-governor of the Central Bank of Nigeria (CBN), has disclosed that the only way to a long-term solution to remove the fuel subsidy completely was through the reduced dependence on petrol.

According to Vanguard, the economist commended President Bola Tinubu for introducing the conditional cash transfer to cushion the effect of removing the fuel subsidy.

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What Sanusi said about fuel subsidy removal by Tinubu

The former CBN governor said:

“In the short term, the most effective measure to offset the removal of fuel subsidies is cash transfers.

“The design of individual cash transfer programmes varies considerably in reach and coverage.

“The long-term solution is to reduce dependence on PMS."

Sanusi reportedly commented on the Nigerian Institute of International Affairs (NIIA)'s distinguished lecture series in Lagos on Thursday, October 19.

The lecture series theme was “Resetting the Nigerian Economy for a Brighter Future”.

Why Nigerians should discuss economics, Sanusi

It was learnt that the lecture series centred on the economic predicament of Nigeria and suggested practical steps to confront the menace.

According to the grand Khalifah of the Tijjaniyah Muslim group, Nigerians would need to appreciate the importance of the economy across the board. He added that many citizens do not understand.

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The former emir added that to reset the economy of Nigeria, economics must be brought into public discourse.

"For eight years, we're living on a fake lifestyle": Sanusi on Tinubu vs Buhari

Legit.ng earlier reported that the former Emir of Kano State and grand Khalifa of the Tijjaniyah group in Nigeria, Muhammadu Sanusi, has blamed former President Muhammadu Buhari for the current Nigeria's economic hardship.

Sanusi, a former CBN governor, said no economic expert with adequate knowledge of monetary policy would say President Bola Tinubu has not done the right thing.

The economist said President Buhari ignored his advice on how to rescue Nigeria before the country plunged into this economic crisis.

Source: Legit.ng