Emir Of Kano, Sanusi Hails Tinubu’s Reforms, Says Economy Now Outpaces Population Growth
The Emir of Kano, Muhammad Sanusi II, has commended the economic reforms of President Bola Tinubu’s administration, particularly measures implemented by the Central Bank of Nigeria (CBN) to stabilise the economy. Sanusi, a former CBN governor, said the country had moved away from the brink of economic collapse following efforts to address excessive money supply and exchange-rate instability. Speaking on the economic situation, the Emir said he had “nothing but positive words for what the Central Bank has done. ”According to him, the country was coming from “very high levels of instability as a result of loose money and uncontrolled growth in money supply,” but the CBN had spent the past year taking measures to mop up excess liquidity. He acknowledged that interest rates remain high but said the reforms had helped stabilise the naira and improve the country’s economic outlook. “Interest rates are high, yes, but we have stabilized the exchange rate. We have pulled back from the brink of total economic collapse,” Sanusi said. On inflation, the former apex bank governor noted that the rate remained high but was gradually declining. “Inflation is coming down, it’s still at 20%, still very high, but it’s coming down from the very high levels of a few, of a few, of a few years ago. ”Sanusi also highlighted the country’s growing foreign reserves, saying, “We have built up reserves to over 40 billion dollars. ”He further pointed to recent economic growth, noting that the economy expanded by more than 3% in the first quarter and more than 4% in the second quarter. “The economy has grown, first quarter by more than 3%, second quarter by more than 4%, and this is the first time in a long time that this economy has been growing faster than the population,” he said.
Date:31-07-2026 7:48 pm (1 hr ago) |Author:Mister Jay WonderHomeNaijapals Base (Metro life)at 31-07-2026 07:48 PM (1 hr ago)(m)The Emir of Kano, Muhammad Sanusi II, has commended the economic reforms of President Bola Tinubu’s administration, particularly measures implemented by the Central Bank of Nigeria (CBN) to stabilise the economy. Sanusi, a former CBN governor, said the country had moved away from the brink of economic collapse following efforts to address excessive money supply and exchange-rate instability. Speaking on the economic situation, the Emir said he had “nothing but positive words for what the Central Bank has done. ”According to him, the country was coming from “very high levels of instability as a result of loose money and uncontrolled growth in money supply,” but the CBN had spent the past year taking measures to mop up excess liquidity. He acknowledged that interest rates remain high but said the reforms had helped stabilise the naira and improve the country’s economic outlook. “Interest rates are high, yes, but we have stabilized the exchange rate. We have pulled back from the brink of total economic collapse,”Sanusi said. On inflation, the former apex bank governor noted that the rate remained high but was gradually declining. “Inflation is coming down, it’s still at 20%, still very high, but it’s coming down from the very high levels of a few, of a few, of a few years ago. ”Sanusi also highlighted the country’s growing foreign reserves, saying, “We have built up reserves to over 40 billion dollars. ”He further pointed to recent economic growth, noting that the economy expanded by more than 3% in the first quarter and more than 4% in the second quarter. “The economy has grown, first quarter by more than 3%, second quarter by more than 4%, and this is the first time in a long time that this economy has been growing faster than the population,”he said. I have been reporting on latest news from Nigeria for almost 10 years now. I report on every possible news area I come across, but always ensure my reports are compiled with dignity and fact to uphold my personal values and duty as a journalistPosted: at 31-07-2026 07:48 PM (1 hr ago) |Addicted Herogogomanat 31-07-2026 07:52 PM (1 hr ago)(m)ReplyHomeNaijapals Base (Metro life)