A former Emir of Kano and ex-governor of the Central Bank of Nigeria (CBN), Sanusi Lamido, has commended President Muhammadu Buhari for removing subsidy on petroleum products.
According to him, the fuel subsidy is a scam that should have been removed years earlier. The former Emir said that certain reforms instituted by the Buhari regime which include the adjustment in electricity tariff were steps in the right direction. He believes if the government continues along those lines, Nigerians will begin to see the light.
Mr Sanusi disclosed this on Thursday, October 1, while featuring on The PLATFORM, a programme moderated by the Senior Pastor of Covenant Christian Centre, Poju Oyemade.
He said, “As a result of COVID-19 and because the economy has been brought to its knees, I think Nigeria has finally come around to being realistic. We were paying billions of dollars in so-called subsidy. It’s a big scam and it has been going on for 30 years. In the last few months, this government has started instituting certain reforms that if we continue along those lines, we will begin to see the light. Yes, the removal of fuel subsidy is one. The adjustment in electricity tariff is another.”
The ex-governor of CBN added, “These are reforms that need to be pushed. We need to understand that the government does not have the balance sheet to continue with the Father Christmas situation that we have had over the last decade or so. I wished we had done this earlier but we are here now and we need to commend the government.”