Alhaji Muhammadu Sanusi, former Emir of Kano, has expressed his concern for Nigeria’s next president.
Sanusi said the country cannot continue to have the current trend, as any continuation will lead to insecurity and might get us to Mali, Burkina Faso’s situation.
He explained that the country can not continue to keep pushing towards the brink; we have to come back.
The former emir who spoke on Saturday in Kaduna at a Kaduna Investment programme, themed, ‘Building a resilient economy, also pointed out the massive bill for “Debt service”, which he said is now 108.
He said “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 pushing towards the brink; we have to come back.
“Debt service is now 108 percent of revenue. Every naira the Federal Government earns goes to service debt and it is not enough, (as the FG) has to borrow to service the debt. And then begin to borrow to build roads, pay salaries and overheads.
“We are leaving a mountain of debt for our children. They (children) might curse us because we are taking all the money borrowed to subsidise petrol and enjoy it cheaply.
“We see the problem and we are going to continue. I’m sorry for the next president who comes in June and says I’m removing fuel subsidy after day one,” he said.