Abuja - The Emir of Kano, Sanusi Lamido Sanusi has warned President Muhammadu Buhari against borrowing $30bn from external sources.
He said even if the Senate approved the loan, no foreign nation or financial institution would be willing to grant the country such a loan.
Emir Sanusi stated this on Friday in his paper titled: “A plan to restore confidence, direction and growth,” during a policy dialogue organised by an economic think tank, the Savannah Centre for Diplomacy, Democracy and Development.
He said it would be difficult for such request to be approved as Nigeria has five exchange rates.
He described President Buhari‘s administration as lacking the right policies to fix Nigeria’s economy, reports Punch
The former Central Bank of Nigeria (CBN) Governor according to Nation emphasized that oil cannot help the nation out of the current economic situation and it would “never make Nigeria rich.
He noted that the country’s population continued to grow to over 40 million people since 2015, yet government found it hard to increase capital expenditure.
- News 24