Former President Olusegun Obasanjo and the 14th Emir of Kano, Sanusi Lamido Sanusi, have voiced their concerns about former President Muhammadu Buhari’s economic management. Obasanjo criticized Buhari’s alleged reckless spending, while Sanusi lamented Nigeria’s financial situation during Buhari’s administration.
Obasanjo remarked on the state of the economy, saying, “Buhari was spending money recklessly, and I know he didn’t understand economics.” He also mentioned that he had advocated for debt relief during his tenure, contrasting it with the current financial challenges.
Regarding the increasing number of military coups in Africa, Obasanjo described it as a new phenomenon. He questioned the effectiveness of Western-style liberal democracy in African countries and emphasized the need to rethink democracy on the continent.
Efforts to obtain a response from one of the former President’s aides were unsuccessful.
Sanusi, on his part, criticized the handling of Nigeria’s economy during Buhari’s tenure. He mentioned the discrepancy in currency exchange rates and criticized the government’s borrowing practices, which led to debt service exceeding 100% of revenue.
He also discussed the challenges facing the country, including the inability to pay subsidies and the consequences of printing more currency. Sanusi expressed concern about the economic difficulties faced by Nigerians.
Lastly, Sanusi clarified that he did not blame President Bola Tinubu for Nigeria’s difficulties but emphasized the challenges the government faces in managing its finances.
