Former Central Bank of Nigeria (CBN) Governor and Emir of Kano, Muhammadu
Sanusi raised the concern while speaking on Nigeria’s fiscal direction, arguing that the government should not still rely heavily on loans if subsidy payments have been eliminated and revenues have improved.
He questioned the logic behind the borrowing pattern, saying that the country risks undermining the benefits of subsidy removal if new debts are still being accumulated instead of focusing on disciplined spending and revenue management.
According to him, the real issue is not just revenue generation but how government funds are managed, stressing that excessive borrowing could worsen Nigeria’s long-term economic stability.
Sanusi has consistently maintained that subsidy removal was a necessary reform, but insists it must be matched with fiscal discipline, reduced waste, and transparent government spending to deliver real economic gains.
He also warned that failure to manage public finance properly could leave citizens worse off, even after painful reforms like subsidy removal.
The remarks add to ongoing national debates about Nigeria’s rising debt profile and the effectiveness of current economic policies under the Tinubu administration.
DAILY TIMES
