Sanusi Blames Delayed Fuel Subsidy Removal for Nigeria's Economic Hardship

Former CBN Governor and Emir of Kano, Sanusi Lamido Sanusi, attributed Nigeria's economic challenges to the delayed removal of fuel subsidies, warning about the fiscal risks involved. He criticized the accumulation of debt due to subsidizing fuel and emphasized the importance of sound economic judgment over short-term political decisions.

Sanusi commended recent policy reforms by the CBN Governor, Olayemi Cardoso, aimed at reducing exchange rate distortions and rebuilding investor confidence. He called for stronger synergy between fiscal and monetary authorities to avoid repeating past mistakes that led to Nigeria's current debt crisis.