…Says Nigeria Doesn’t Need 48 Ministers or Endless Convoys
The 16th Emir of Kano, His Royal Highness Muhammadu Sanusi II, has urged President Bola Ahmed Tinubu to take bold steps in reducing the cost of governance, warning that ongoing economic reforms may not yield meaningful results unless government expenditure is drastically cut.
Speaking on Tuesday, October 28, at the Oxford Global Think Tank Leadership Conference in Abuja, the former Central Bank of Nigeria (CBN) Governor commended Tinubu for the removal of fuel subsidy but questioned how the increased revenue generated from the policy was being utilized.
According to Sanusi, excessive public spending and a bloated cabinet remain the biggest threats to Nigeria’s fiscal stability.
“Why do we need 48 ministers, long convoys, and endless travels?” he asked.
He maintained that true reform must begin with discipline at the top, noting that fiscal waste undermines the government’s credibility in demanding economic sacrifices from citizens.
Reflecting on past economic decisions, the Emir recalled the 2012 subsidy removal attempt under former President Goodluck Jonathan, which was met with widespread protests led by opposition figures—many of whom are now in power.
“If Nigeria had allowed the Jonathan government to remove subsidy in 2012, the pain would have been a very tiny fraction of what we’re facing today,” Sanusi said.
He further revealed that during his tenure as CBN Governor, the apex bank projected that subsidy removal would have caused only a short-term inflationary rise.
“I stood up and said, remove the subsidy today. Inflation will move from 11% to 13%, and I will bring it down in a year. We would not have had over 30% inflation,” he added.
Sanusi also defended the current exchange rate stability, saying predictability is preferable to uncertainty.
“Yes, we are at ₦1,400 to a dollar, but it’s better to know it will be ₦1,400 for six months than to think it’s ₦1,400 today and ₦2,000 tomorrow,” he noted.
He concluded by calling for fiscal discipline, streamlined governance, and greater accountability as prerequisites for sustainable economic recovery.