Former Emir of Kano, Sanusi Lamido, has expressed sadness at the current economic and security situation in Nigeria, stating that 2023 might be worse.
Sanusi made this known at the Akinjide Adeosun Foundation, AAF’s, Leadership Colloquium and Awards, Chapter 7, themed ‘Are Good Leaders Scarce in Nigeria’? on Thursday, 4th August.
The former monarch said everyone should be worried about the level of insecurity, inflation, unstable exchange rate and lack of power in the country.
He further criticized the present administration, saying that despite the current situation, the present leadership expects to be rewarded with appreciation after leaving office.
According to the former CBN governor, Nigerians were in a dip hole in 2015 but it is nothing compared to what will happen in 2023.
He said: “The levels of poverty, levels of insecurity, the rate of inflation, the unstable exchange rate, the lack of power should worry anybody. This is the only oil-producing country that is grieving at the moment when oil prices have gone up as a result of the Russia/Ukraine war. Our total revenue is not able to service our debt and if anybody does not understand that we are in a complete mess, we are.
“We were in a deep hole in 2015 and between 2015 and now, we have been digging ourselves into a deeper hole. We thought we had a big problem in 2015 but 2015 is nothing, compared to what will happen in 2023.
“We have terrorism, banditry, inflation, unstable exchange rate, and the worst thing is that those in leadership actually think we are going to thank them when they leave office. There is no change. There is no sense of urgency.
“If you are running a company and your sales revenue cannot pay interest, you know you’re bankrupt. When the total revenue of the federal government cannot service debt? These are the kinds of questions we need to ask and the reality is that there are so many Nigerians, who, given the opportunity will do well but they simply cannot contest in that space.”