Sanusi faults Tinubu govt’s communication despite praising economic turnaround

Emir of Kano Muhammadu Sanusi II says Tinubu deserves credit for stabilising Nigeria’s economy, citing 4.48% growth, falling inflation and $55 billion reserves, while warning that portfolio inflows are volatile and criticising the government’s communication.

Emir of Kano Muhammadu Sanusi II has said President Bola Tinubu deserves credit for bringing Nigeria’s economy back from the brink, speaking at the Oxford Global Think Tank conference convened by Arunma Oteh on Tuesday, according to The Cable.

“I’m not a fan of politicians, but we need to give credit to President Tinubu’s administration for bringing us back from the brink,” the former CBN governor said.

He said GDP grew 4.48 percent in Q2 2026. “It’s not as high as it was under the Yar’Adua/Jonathan government, but during the Buhari years, the economy grew by 0.9 percent. Today it’s at 4.5 percent. That’s progress,” he said. He noted inflation had fallen from about 30 percent to 14.6 percent, projected to reach 12.5 percent by year-end, and that dollar GDP per capita is up 47 percent since 2023.

He put reserves at $55 billion but cautioned: “a lot of it is driven by portfolio flows, which are volatile.” He added that “20 percent of Nigeria’s exports were coming from the Dangote refinery.”

“There are clearly foundations being laid for stability. It’s not the end, but the first step towards stability,” he said, but criticised the government: “This government doesn’t express itself properly. It sees every suggestion and contribution it does not like as an attack, and it doesn’t have good spokespersons.”