“You Removed Subsidy But Still Borrowing?” — Sanusi Sends Strong Warning That Could Shake Nigeria’s Economy

Fresh tension is building over Nigeria’s economy as the Emir of Kano, Muhammadu Sanusi II.

Has raised a serious alarm many are now talking about.

Speaking in a recent interview, the former CBN governor warned that removing fuel subsidy while still borrowing heavily could cancel out any progress Nigeria hopes to achieve.

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Sanusi admitted that removing subsidy and adjusting the exchange rate were necessary steps to fix long-standing problems. But he stressed that poor spending habits by the government could weaken the entire effort.

He also pointed out how Nigeria wasted huge money importing fuel for years while local refineries remained inactive, calling it a major drain on the nation.

Despite this, he noted that Nigeria is slowly moving towards producing and exporting its own fuel.

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His final warning was clear and direct. Nigeria cannot remove waste and still depend on borrowing if real economic recovery is the goal.