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Past leadership failure caused recession, Sanusi says

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The Emir of Kano, Alhaji Muhammad Sanusi, on Wednesday, attributed the current economic recession in the country to inability of the past administrations to diversify the economy.

He made the remark while delivering a lecture at the ongoing 15th meetings of the Joint Planning Board and National Council on Development Planning in Kano.

He said there was urgent need for the country to return to the drawing board and expand the economy through wise investment for the economic growth and development of the country.

“If we do not expand the economy through wise investment, we can end up in classical Malthusian situation.

“If this government continues to behave the way the past government behaved, we will end up where Jonathan ended.”

He said in a situation where one sits down with a telephone call to make one billion Naira without investing a single Kobo, that system is wrong and unsustainable.

He lamented that in spite of the past experiences we had on our socio-economic challenges, the country was still repeating past mistakes as basic commodities were stil being imported.

“In a situation where we cannot process tomato. Tomato paste is being imported from China. It is sad.” he said.


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3 Comments
  • So oju abe niko

    If only this loud mouth know-it-all can shut up for a second. He was the worst Nigerian CBN governor ever. He contributed immensely into the current mess. by creating artificial crises in the banking sector. Did not know anything about being a CBN governor and kept making up the rules and winging it. If not for the weak president that tolerated him, he should have been sacked right after he handed out N10 Billion donation to Usman dan Fodio University in Sokoto.

  • Anthonia Nebi

    Sanusi Mr talku talku, cabu cabu CBN opportunist Emir.

  • Irreligious

    Mr Sanusi should know. I mean the way he recklessly `diversified` CBN funds. Na wa O! Nigeria, the land where the perpetrator always patronizes and even derides the victim!