Former Central Bank of Nigeria (CBN) governor, Mohammed Sanusi, has said rather than blaming President Bola Tinubu for the present hardship in the country, accusatory fingers should be pointed at his immediate predecessor, Muhammadu Buhari, over the way he handled the economy.

The former emir of Kano, who spoke virtually on Sunday at a religious event in Abuja, maintained that the immediate past administration failed to properly manage its economic policies.

According to him, Buhari turned a deaf ear to reasonable advice on how to take Nigeria out of its economic woes.

He said he would, therefore, not be able to meet the expectations of a section of Nigerians who wanted him to criticize President Tinubu over the current economic difficulties in the country.

The former royal father stated: “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 per cent.

“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

“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.

abhosts:
So it is Buhari that removed petrol subsidy and devalued official naira rate from N450 to N1450 against dollar?

Oromoni619:
Who we go blame as super eagles don loose

Abeg leave blame game go and work for your pipo,you all are the same

Me trying to arrange my 1.4odds tomorrow , that's the new format to make side money, you can do it yourself or I can help you,but not free

Serious minded people only

datola:


Subsidy had to go! Paying subsidy with over piling up debts. Do you know the implication

The same thing with exchange rate. Ask any economist. Tinubu took the only reasonable decisions

Even, Okonjo Iwaela was sounding warnings during Jonathan Era that Nigeria was living on borrowed rope.

Tinubu had to stop all that for the greater future.

We just must brace up for now!

Dollar might continue to rise against Naira because we are not earning shishi from our only major earner, crude oil because we had sold all for this year in liue of loan used to pay subsidy and defend Naira that made the likes Tunde Saibu, the former recharge carde seller muliti billionaire.

Islie:



https://tribuneonlineng.com/blame-buhari-not-tinubu-for-economic-hardship-sanusi-tells-nigerians/

Nlfpmod

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.

Chikpat:
Sanusi is not Buhari's friend. He is Tinubu's friend. He is subtly attacking Buhari for allowing Ganduje remove him as the then Emir of Kano. Lol. No joy, no forgiveness.

This is the same Tinubu that knew it all, saw it all and claimed he would fix it all.

He built Lagos. He tamed the Atlantic Ocean. He is an accounting gwuru or abi na gworo from Chicago State University. And yet, Nigeria has become the worst from it's Independence in 1960, just under 8 months of his misgovernance.

In transportation, fuel is 1250 per liter. Cost of transportation has quadrippled. Cost of servicing vehicles has increased too.

In accomodation, the cost of a 3-bed room flat can only get a few selfcons now. The annual rent of a duplex then, can at best, now get a 2 bedroom flat. The cost of a developed land then, can only price an undeveloped land in the hintherland now. The cost of a tanker of water now, would have paid for all the water used by a household in a year then. A bag of cement today, would have paid a mason and 4 laborers for a day.

In Education, the annual cost of sending kids to Creches now, trained graduates for 4yrs in the universities. The salary of a government, private teacher today cannot but a bag of rice at 75k per bag.

In economy, a dollar is now N1800. Chicago State University can train nonsense. Many Nigerians today, believe that doing menial jobs abroad is way better than doing a white collar job here.

Should i talk about insecurity?

I can go on and on.

Clearly, elections are over. But idiots don't understand the grave mistakes INEC, Tribunal, Apeeal Court and the Supreme court made. There are still campaigning for and against candidates.

Tinubu is now the President but he is not good for Nigeria. He should resign and allow Nigerians take their destiny into their hands.

The best his senseless supporters, in the midst of these hard realities can do is to live in a fool's paradise, wear blinders and clutch at straws.

Super Eagles will hopefully win AFCON 2024. A president and his vice who have been misgoverning, misleading Nigeria are already posturing to be in Ivory Coast to take credit for doing nothing really, while nothing is working at home. Senseless supporters would at the end, come praising the sun for the work of the moon. We have bad government in Nigeria. We deserve better. We need good governance much more than winning AFCON 2024. Who AFCON help?


The man who built Lagos is unable to build Nigeria. He is incapable of maintaining the economy he inherited from past presidents. He is unable to tame insecurity. He is unable to solve any tangible problem in the land. Lies can be told during campaigns. But they surely can't last long enough. He is clueless, visionless, missionless, incompetent, egoistic and his team is clearly all brawns and no brains.

Well, Sanusi can continue to fool himself and a bunch of his senseless followers.

Anybody who quotes me to defend nonsense in this failed presidency is as thick as two short planks, a few cards short of a full deck.

Islie:



https://tribuneonlineng.com/blame-buhari-not-tinubu-for-economic-hardship-sanusi-tells-nigerians/

Nlfpmod

abhosts:


You paid hacks talk as if Nigeria was founded under APC. Are you aware that Presidents that oversaw booming economic periods like Obasanjo and Yar'Adua were also under pressure to devalue the Naira and remove subsidy? Yar'Adua refused outright while Obasanjo only adopted a gradual and staggered approach to remove fuel subsidy. Why was Tinubu so eager to devalue the official Naira rate by 220 percent and remove subsidy at the same time if he is not evil incarnate? No problem. Since you are doing the work of satan by calling evil good and cool, explain to hungry Nigerians that their suffering is in their best interest.

Paraman:
I agree with Sanusi. Tinubu will get us out of this mess before the year end