The Emir of Kano, Alhaji Sanusi Lamido Sanusi, on Friday in Abuja described President Muhammadu Buhari‘s administration as lacking the right policies to fix Nigeria’s economy, even as he warned of grave consequences of borrowing $30bn from external sources.
He also said even if the Senate approved the loan, no foreign nation or financial institution would be willing to grant the country such a loan.
Sanusi said this in his paper titled: “A plan to restore confidence, direction and growth,” during a policy dialogue organised by an economic think tank, the Savannah Centre for Diplomacy, Democracy and Development.
The former Central Bank of Nigeria’s governor — who also said the CBN is “illegally” lending to Federal Government — further stated “the problem of the current government is not having the right policies to fix the current economic woes.”
The ex-CBN governor argued that for a country that has five exchange rates, it would be difficult for a $30bn loan request to sail through.