Emir of Kano, Muhammadu Sanusi II, has sharply questioned the Federal Government’s continued borrowing despite the removal of petrol subsidy, warning that Nigeria risks undermining key economic reforms through poor policy coordination.
Speaking in a recent interview, the former Central Bank governor acknowledged that subsidy removal and exchange rate liberalisation were necessary steps.
However, he argued that weak fiscal discipline and poor sequencing have eroded their benefits, particularly as the naira continues to struggle.
Sanusi criticised Nigeria’s long-standing dependence on foreign refining but welcomed recent progress in domestic production. Still, he raised a fundamental concern: if subsidy savings exist, why is government debt rising?
With borrowing projected to hit ₦29 trillion in 2026, his remarks highlight growing scepticism over the Tinubu administration’s economic strategy, which many Nigerians say has yet to deliver tangible relief.
