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Oil Prices: Former Emir Sanusi Supports Buhari’s Government

The former Emir of Kano, Malam Muhammadu Sanusi II, has said that the federal government’s efforts to revive the country’s economy are right.

It was reported this weekend that the former king had said that even before the COVID-19 outbreak, the government should have taken the following steps.

Speaking on Arise TV on Friday, September 4, Sanusi II said the removal of the fuel subsidy was the right thing to do.

Some of the recent measures, borrowed from the IMF to remove oil subsidies, despite the intensity of doing so, are the right thing to do if the government’s budget is to increase.

Sanusi II added: There has now been an increase in transparency in the NNPC.

I have heard that the NNPC has invested nearly N2 trillion in the FAAC, which is more than what has been accumulated over the years.

The dignitary said that if the oil industry was honest, there would be change in other parts of the government.

But despite the support of the former CBN governor to cut oil subsidies, he said there was an improvement in the way the country spent its money.

The government is looking at how it is wasting money, making sure it reaches the poor.

According to him, the federal government should invest in education, water and rural development, adding that this was more important than building houses and bridges.

Prior to the COVID-19 epidemic, Sanusi II said the country’s economy was not moving due to high debt and huge oil subsidies.