The Northern Patriotic Coalition for Democracy (NPCD) has disagreed with critical remarks attributed to the Emir of Kano, Muhammadu Sanusi, regarding the economic reforms under President Bola Ahmed Tinubu’s administration.
The group’s convener, Mohammed Yahaya, criticized the former Emir during a press conference on Friday.
Sanusi had spoken at the 21st memorial lecture of Chief Gani Fawehinmi in Lagos, where he declared that he would remain an observer and not offer economic advice to the Tinubu administration, citing perceived personal grievances.
He alleged that the president’s team lacked the requisite capacity to deliver democratic dividends.
Sanusi remarked:
“I have decided not to speak about the economy or the reforms, nor to explain anything regarding them. If I explained, it would only benefit this government, and I don’t want to aid this government. They’re my friends. If they don’t behave like friends, I don’t behave like a friend. So, I watch them being stewed, and they don’t even have people with credibility who can come and explain what they’re doing. But I’m not going to help.”
Group Reacts
Reacting to the development, Yahaya noted that during his tenure as CBN Governor, Sanusi consistently advocated for the removal of subsidies and the unification of exchange rates.
“Today, when President Tinubu has courageously implemented these very reforms, Sanusi has chosen to undermine them with veiled criticism and a refusal to offer constructive advice,” Yahaya stated.
He further alleged that Sanusi’s tenure did not deliver the systemic reforms necessary to address Nigeria’s structural economic challenges.
“Yet, rather than supporting these efforts or offering constructive criticism, Emir Sanusi has chosen the dead-end path of empty cynicism.
“One cannot help but question whether this posture is rooted in genuine concern for Nigeria or personal grievances and partisan loyalties driven by selfish interests.
“It is disingenuous for someone who had the opportunity to influence policy at the highest levels to now posture as a detached commentator. If anything, his tenure only reinforced the status quo, with no lasting impact on economic inclusivity or structural diversification of Nigeria’s economy,” he added.
On Tinubu’s reforms, the group expressed confidence that they are globally recognized by international institutions as critical measures to reposition Nigeria’s economy on a sustainable growth trajectory.
“Furthermore, many international institutions, such as the World Bank and IMF, have acknowledged the potential long-term benefits of these policies, with projections of economic recovery and resilience on the horizon,” Yahaya said.
The group emphasized that nation-building requires collaboration, dialogue, and a strong commitment to the common good.
FG’s Response
In his response earlier, Mohammed Idris, the Minister of Information and National Orientation, issued a statement on Thursday acknowledging Sanusi’s right to express his opinion but expressed surprise that a leader from an institution that values forthrightness, fairness, and justice would withhold the truth due to personal interests.
Idris stated:
“It is pertinent to state that Nigeria is at a pivotal juncture where bold and decisive actions are necessary to tackle entrenched economic challenges. This administration has implemented transformative reforms not because they are easy, but because they are essential for securing Nigeria’s long-term stability and growth, as Emir Sanusi had consistently advocated.
“The temporary pains currently experienced from these inevitable decisions, as Sanusi himself acknowledged, are a ‘necessary consequence of decades of irresponsible economic management.’”
Idris highlighted progress made under the reforms, including the unification of exchange rates, which he said has bolstered investor confidence and increased foreign reserves.
He also noted that the removal of the fuel subsidy has freed up significant resources for investment in critical sectors such as infrastructure, education, and healthcare.
He said projections from respected institutions, including the World Bank, indicate an upward trajectory in Nigeria’s GDP, signalling that the economy is on the path to recovery.
What You Should Know
- On June 1, 2009, Sanusi was nominated as Governor of the Central Bank of Nigeria by President Umaru Musa Yar’Adua.
- His appointment was confirmed by the Nigerian Senate on June 3, 2009, during the Great Recession in Africa.
- The crisis significantly impacted Nigeria’s economy and banking system, with the stock market collapsing by nearly 70%.
- Amid this crisis, Sanusi led the central bank in rescuing top-tier banks with over ₦600 billion of public funds, dismissing and prosecuting chief executives who mismanaged customer deposits, and taking strict action against banks involved in financial crimes.
