The Emir of Kano, Muhammadu Sanusi II, has acknowledged President Bola Tinubu’s efforts in improving Nigeria’s economic outlook, saying the administration deserves credit for bringing the country back from the brink of economic collapse.
Sanusi, a former Governor of the Central Bank of Nigeria (CBN), made the remarks on Tuesday at the Oxford Global Think Tank Conference convened by former Finance Minister Arunma Oteh.
He identified improvements in economic growth, inflation, foreign reserves and export diversification as indicators of progress under the Tinubu administration.
According to Sanusi, Nigeria’s economy grew by 4.48 per cent in the second quarter of 2026, while inflation declined from about 30 per cent to 14.6 per cent.
He also put the country’s foreign reserves at approximately $55 billion, although he cautioned that a significant portion of the inflows came from foreign portfolio investments, which could be volatile.
On economic diversification, the former CBN governor highlighted the contribution of the Dangote Refinery, stating that approximately 20 per cent of Nigeria’s exports were coming from the facility.
Despite acknowledging these improvements, Sanusi warned that the country still faced significant economic challenges and needed to sustain its current growth trajectory.
He also criticised the Federal Government’s communication strategy, arguing that the administration often interprets constructive criticism and suggestions as attacks rather than opportunities to improve its policies.
Sanusi maintained that while the economic reforms were beginning to produce results, they represented only the first steps towards achieving lasting economic stability.
