‘The markets are happy’ – Sanusi hails Tinubu on petrol subsidy removal, currency float

Muhammad Sanusi II, a former Emir of Kano, has commended President Bola Tinubu on the removal of petrol subsidy and ending multiple exchange rates.

Sanusi, a former governor of the Central Bank of Nigeria (CBN), spoke to journalists on Thursday after meeting with the president. 

According to the economist, his meeting was to show solidarity with his friend who he was confident was taking all the right steps as a leader.

“The first reason was to come and congratulate him formally, but also because I wear many caps, I wear the cap of an economist so I came to thank him for the steps he has taken to put this economy on course,” Sanusi said.

“As you know, many of the issues that we’ve talked about; the subsidy that has caused a haemorrhage on the fiscal, the multiple exchange rates regime and on.

“These are issues that I have personally been talking about for a long time and I’m happy that on his very first day, he addressed these issues and the markets are happy.

“It’s important when the government does the right thing for us to give them feedback. It’s not always when they do the wrong thing that we complain. 

“So he has started on such a strong footing and as far as the economy is concerned, we have to come and support and encourage that we continue along that path and be advocates for the policies he has pursued.”

Speaking further on the outcome of his meeting, Sanusi said Tinubu promised that the federal government will take a closer look at the Airforce raid that killed at least 37 herders in Nasarawa earlier this year. 

“I’m concerned with the issue of herdsmen–farmer clashes. He (Tinubu) is also concerned. And we discussed steps that need to be taken to begin to look at some of those issues, ” he said. 

“But in particular, I came to appeal to him on the case of the 37 herdsmen who were bombed by the Airforce in Nasarawa state a few months ago which we wrote a letter to President Buhari on. 

“And we have now written a reminder because it was a matter we didn’t want to be swept under the carpet. The president has asked me to send him that letter and I’m sure that he will look into the matter.” 

The airstrike that occurred in Doma, a community that connects Nasarawa and Benue states on January 24, 2023, claimed the lives of about 37 persons (herders) who were waiting to transport their cattle.

However, the Nigerian Air Force (NAF) denied allegations that the airstrike struck civilians.