Sanusi Critiques Tinubu on Nigeria's Rising Debt Issues

Muhammadu Sanusi II, the former Governor of the Central Bank of Nigeria, publicly criticized President Bola Ahmed Tinubu regarding the increasing debt profile of Nigeria despite the removal of fuel subsidies. Speaking at a public event on Friday, Sanusi raised concerns about the disconnect between government policies and the current fiscal realities, particularly as Nigerians grapple with the economic impacts of subsidy removal.

He questioned the rationale behind continued borrowing, arguing that the removal of subsidies was intended to free up funds for development. Sanusi stressed the importance of transparency, asserting that citizens deserve clear explanations of how government revenues are spent.

He warned that without public confidence in economic policies, the government's ability to manage the economy could weaken. Sanusi clarified that borrowing itself is not inherently problematic but insisted that the government must demonstrate visible outcomes from loans to justify them.

His comments come in the context of the significant increase in petrol prices following the subsidy removal, a key decision of the Tinubu administration.