THE Federal Government has reacted to the recent remarks by Emir Muhammadu Sanusi II, regarding the economic reforms introduced under President Bola Ahmed Tinubu’s administration.
Sanusi, a former Central Bank of Nigeria (CBN) governor, had at a public event in Lagos, said “I have decided not to speak about the economy or the reforms, nor to explain anything regarding them. If I explained, it would only help this government, and I don’t want to help this government”.
But in a swift response, the Minister of Information and National Orientation Mohammed Idris said, “We note the emir’s acknowledgement of the noble initiatives which, he said, he could explain away but for his decision “not to help the government”.
“However, we find it amusing that a leader, more so one from an institution that ennobles forthrightness, fairness, and justice would publicly admit to shuffling off saying the truth because of personal interest hinged on imaginary antagonism.
“We acknowledge that Sanusi, and indeed any Nigerian, has the inalienable right to express opinion either in form of commendation or criticism on how the government is being ran.
“It is pertinent to state that Nigeria is at a pivotal juncture where bold and decisive actions are necessary to tackle entrenched economic challenges. This administration has implemented transformative reforms not because they are easy, but because they are essential for securing Nigeria’s long-term stability and growth, as Emir Sanusi had consistently advocated.
“The temporary pains currently experienced from these inevitable decisions, as Sanusi himself acknowledged, are “necessary consequence of decades of irresponsible economic management” more than anything else.
“These reforms are already delivering measurable progress. The unification of exchange rates has bolstered investor confidence, which has contributed to increased foreign reserves and strengthened Nigeria’s ability to shield itself from external economic shocks.
“The removal of the fuel subsidy has freed up significant resources, allowing for greater investment in critical sectors such as infrastructure, education, and healthcare. Projections from respected institutions, including the World Bank, show an upward trajectory in Nigeria’s GDP, signaling that our economy is firmly on the path to recovery.
“Additionally, by addressing inefficiencies, the country has reduced its debt service-to-revenue ratio, creating a more sustainable fiscal framework for future generations.
“It is deeply disappointing that reforms widely recognized as essential by global experts—including by Emir Sanusi II himself—are now being subtly condemned by him because of shift in loyalty.
“His Highness, given his background in economics, has a unique responsibility to contribute constructively rather than undermine reforms aimed at collective progress because he feel estranged from his “friends” in government.
“We urge the Emir to rise above personal interests and partisan undertones and prioritize the greater good of Nigerians.
“Rebuilding Nigeria requires unity, focus, and sacrifice from all stakeholders. As a government, we urge esteemed leaders to refrain from rhetorics that undermine public trust. Instead they owe it a duty to champion the collective goal of a prosperous Nigeria. This is a critical time for our country, what is needed is collaboration, not unnecessary distractions.
“President Bola Ahmed Tinubu’s administration remains resolute in its mission to lead Nigeria towards economic inclusivity, sustainability, and shared prosperity. The challenges we face demand courage and collective effort, not divisive narratives.
“This administration is open to constructive dialogue with all well-meaning stakeholders, while remaining steadfast in putting the interests of Nigerians above all else.
“Let history record this moment as a turning point—when leaders and citizens alike choose to prioritize the nation’s destiny over personal gain. Together, we will deliver on the promise of renewed hope and a better Nigeria for all.”