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It’s an injustice to blame Tinubu over economic hardship – Sanusi
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By Francesca Hangeior
Former Governor, Central Bank of Nigeria, Mohammed Sanusi, has said it is an injustice to blame the administration of President Bola Tinubu for the current economic hardship the country is facing.
Sanusi said the country is battling a failing economy due to mismanaged economic policies of the past eight years.
He stated this while speaking virtually on Sunday at a religious event in Abuja.
He said he would not join those who are bent on criticising Tinubu over the current economic challenges in the country.
Sanusi said, “I have been, over the years, talking about the pending crisis ahead of the current economic hardship. Any economist who has studied monetary policy in the last eight years knows that Nigerians will fall into this difficult situation.
“The difficult situation Nigerians are facing is just the beginning (if the right decision is not put in place) because Nigeria is not exceptional; such situations happened in Germany, Zimbabwe, Uganda, and Venezuela.
“The previous administration turned adamant about our appeal for corrective measures (on the economic policy). I have said in the presence of the now sitting president in Kaduna state, any politician who tells you that things will be easy, don’t vote for him because he is lying. People merely dismissed my advisory as a political statement.
“If I am to be fair and just to President Bola Tinubu, he is not to blame for the current hardship; for eight years, we were living a fake lifestyle with huge debt from foreign and domestic debts. The Central Bank of Nigeria owes over N30 trillion, which resulted in debt service surpassing 100 percent.
“I can’t join other Nigerians criticising Tinubu on the current economic hardship, and I am not saying he is a saint free from wrongdoing, but in this current economic situation, President Tinubu is not to be blamed. I will also speak if I see any wrong economic policy of the Tinubu administration in the future, Stated.
He added that Tinubu’s decision to remove fuel subsidy should be applauded.
He said, “It’s injustice for anyone to blame the Tinubu administration for the current economic hardship because there is no other alternative than the removal of the fuel subsidy. After all, Nigeria cannot even afford to pay the subsidy. In the last eight years, the Central Bank continued to print more money, and the naira continued to depreciate. There is too much naira in circulation because the CBN is printing the currency without restraint.
“The economy was poorly managed, and they are not willing to take advice; in the last eight years, apart from sycophancy, nothing has been done; those sycophants are those buying the dollar at the rate of N400 and selling it at the rate of N600 to N700.
“A boy who has no record of service has a private jet and owns houses in Dubai and England just because he is buying dollars at so a rate and selling them.
“I can only plead with the people to endure the hardship, and those who have the means to help the downtrodden should do so.
“I am also pleading with commoners to live according to their earnings; we must not peg our lives above our earnings in this difficult situation where people are looking for what to eat.”
During his inaugural speech in 2023 after the general elections, Tinubu announced the removal of fuel subsidy.
He stated that the country could no longer maintain it, noting that the trillions of naira yearly spent to sustain the subsidy were meant to better the healthcare and transportation sector, schools, housing, and national security, among others.
However, following the removal, Nigerians had been thrown into hardship from the soaring cost of food to increased drug prices.
News
ADC gives reasons why Atiku was absent at G100 opposition summit
The African Democratic Congress has given reasons why its presidential flag bearer Atiku Abubakar was absent at the G100 summit in Abuja.
ADC spokesperson, Bolaji Abdullahi, gave the explanation on Tuesday during an interview saying the summit focused on cooperation among political parties rather than individual candidates.
He said the ADC was fully represented at Monday’s meeting, with four of its vice chairmen in attendance, making Atiku’s physical presence unnecessary.
The summit, held at the Shehu Musa Yar’Adua Centre in Abuja, brought together representatives of major opposition parties to discuss possible cooperation ahead of the 2027 elections.
News
“Go Back and Repair Our Road!” — Enugu Residents Turn APC Campaign Ground Into Assessment Session(Video)
Drama unfolded in Enugu North when a man reportedly campaigning for the APC in Peter Mbah-branded clothing was confronted by residents over the condition of their community.
Instead of the expected campaign applause, residents turned the encounter into an impromptu accountability hearing.
Community: “As you were coming here, how did the road look?”
APC Supporter: “It is very terrible.”
Community: “Go and tell the people who sent you to come and construct the road for us.”
APC Supporter: “I will inform them.”
The residents did not stop there.
Community: “Is that not a primary school your community members attend? How is it?”
APC Supporter: “It is bad.”
And just like that, the campaign rally became a road-and-school inspection.
News
US troop withdrawal won’t affect counterterrorism cooperation – DHQ
The Defence Headquarters has said the reported withdrawal of about 200 United States personnel from Nigeria will not affect the country’s security cooperation with the US, describing the development as a routine adjustment tied to specific operational objectives.
The Director of Defence Information, Maj Gen S. Uba, stated this on Tuesday while addressing journalists at the joint security spokespersons briefing.
Uba said the withdrawal should not be interpreted as a breakdown or termination of the longstanding security partnership between Nigeria and the United States.
“The Armed Forces of Nigeria wishes to clarify that the reported withdrawal of about 200 United States personnel should not be interpreted as a breakdown or termination of the Nigeria-United States security partnership,” he said.
According to him, the relationship between both countries remains “strong, enduring, and mutually beneficial,” noting that the deployment of American personnel was linked to specific operational and counterterrorism objectives.
“The decision to draw down personnel is therefore part of the evolving nature of that engagement. Elements of the United States security partnership, particularly intelligence cooperation, training and information sharing, will continue,” Uba added.
He stressed that the responsibility for defending Nigeria and protecting its citizens remained primarily with Nigerian security forces, while noting that cooperation with the US aimed to strengthen the capabilities of the Nigerian military.
“The Armed Forces of Nigeria has consistently maintained that the responsibility for the defence of Nigeria and the protection of its citizens rests primarily with Nigerian security forces,” the DDI said.
He explained that the bilateral security partnership covered intelligence sharing, training, technical assistance and other forms of professional military cooperation.
“Our cooperation with the United States is designed to strengthen our capabilities through intelligence sharing, training, technical assistance, and other forms of professional military cooperation,” he said.
Uba said that when Nigeria and the US jointly assessed the need for additional interventions, including joint strikes, they carried them out.
“Where it is jointly assessed that additional efforts, including joint strikes, are required, we do that,” he stated.
The defence spokesman said the partnership had continued to yield positive results in the fight against terrorism and other transnational security threats.
“Indeed, the Nigeria-United States partnership has continued to produce valuable outcomes in the fight against terrorism and other transnational security threats,” he said.
Uba urged the media and members of the public not to interpret the adjustment in the presence of foreign military personnel as an indication of weakening security cooperation or Nigeria’s defence capacity.
“We equally call on the media and the Nigerian public to avoid interpreting a routine or mission-specific adjustment in foreign military presence as evidence of a collapse in Nigerian security cooperation or national defence capability,” he said.
He reiterated that the Nigeria-US security relationship remained enduring and that cooperation in areas of mutual interest was expected to continue.
The clarification came after US officials said most of the additional forces deployed for the Lake Chad operation had returned following the completion of their mission, while intelligence sharing and broader security cooperation with Nigeria would continue.
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