Sanusi Lamido, the former Emir of Kano, has said if dying Nigeria's economy is not rescued on time, the country may land in a similar situation with the likes of Mali and Burkina Faso.

The former governor of the Central Bank of Nigeria said Nigeria's economy has been tied to the oil and gas sector while fuel subsidy has crippled the economic growth.

The grand Khalifah of the Tijaniyyal Movement of Nigeria made the assertion while expressing pity on the successor of President Muhammadu Buhari.

The former emir of Kano and vice chairman of the Kaduna investment promotion agency, Lamido Sanusi, has expressed sorry for the next president that will succeed President Muhammadu Buhari because of the dying economy.

According toThe Punch , the Khalifah of the Tijaniyyah Movement of Nigeria expressed compassion on Saturday, October 15, while addressing notable politicians at the Kaduna investment programme titled “Building a resilient economy.”

What is the source of Nigeria's economy?

The 14th emir of Kano lamented that Nigeria’s economy had been tied to the oil and gas sector, and the economic growth had been mitigated with subsidy removal. 

He said if the situation continued, Nigeria might end up being in an insecurity situation with the likes of Mali, and Burkina Faso, where the military has taken over due to economic and political woes.

He further stated that, Nigeria has continued to be a rentier state. It does not exist for development but as a sight of rent and extraction to make those who control the state rich, turning them into billionaires overnight,

“In 2023, if we have an election, we cannot continue to have the trend. Because any continuation will lead to insecurity and might get us to Mali, Burkina Faso’s situation.

“We can’t keep towards pushing the brink; we have to come back.”

Sanusi also decried that only 50% of states generated enough to pay wages, overheads and debt services, referencing data from the federation account allocation committee.

Ex-Kano Emir, Sanusi, makes new revelation about Islamic Banking, discloses those against it

The former governor of the CBN and emir of Kano, Lamido Sanusi, has made a new comment on Islamic banking in Nigeria , noting that some personalities in the country are bent on being untruthful while hiding under religion, legit.ng reported.

Sanusi stated that Islamic banking has no connection or in no way related to the Islamisation of the country because there is no such plan.

The former traditional leader further stressed that the benefits of the Islamic banking model were large and that 10 years after, the story of the bank changed globally, and non-Muslims have embraced it.