Emir of Kano, Muhammadu Sanusi II explained that if the country holds election, the country cannot continue to have the trend, stressing that any continuation would lead to insecurity and might get us to Mali, Burkina Faso’s situation.
Muhammadu
Sanusi II, has said that children in Nigeria will curse the leaders of the
country’s accumulation of both internal and external debts following the
country’s continued borrowing.
“Nigeria
children will curse the leaders of the country’s accumulation of both internal
and external debts with the country continuous borrowing,” he lamented.
Speaking
on Saturday in Kaduna in his address titled, “Building a resilient economy” at
the Kaduna Investment Summit, saying that the Nigeria’s economy has been tied
to the oil and gas sector, saying that subsidy removal is fast mitigating the
growth of the economy, the country has continued to be a rentier state.
He opined
that it does not exist for development but as a sight of rent, and extraction
to make those who control the state rich turning them into billionaires
overnight.
Emir of
Kano, Muhammadu Sanusi II said,
“We can’t
keep pushing towards the brink; we have to come back,” he stated.
In other
words, he observed that debt service is now 108 percent of revenue as every
naira the federal government earns goes to service debt, and it is not enough,
(as the FG) has to borrow to service the debt and begin to borrow to build
roads, pay salaries and overheads.
Muhammadu
Sanusi II noted that the present leadership is leaving a mountain of debt for
the children, stressing that the children might curse them because they are
taking all the money borrowed to subsidise petrol and enjoy it cheaply.
He
lamented that the country sees the problem and the leadership going to
continue, saying that he is sorry for the next president who comes in June and
says he is removing fuel subsidy after day one.
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