The Northern Patriotic Coalition for Democracy (NPCD) has slammed Sanusi Lamido's recent criticism of President Bola Ahmed Tinubu's economic policies, describing his statements as reckless, misinformed, and driven by personal interests.
The NPCD accused the former Emir of Kano of lacking the moral authority to advise the government on economic matters, given his own chequered past as Managing Director of First Bank and Governor of the Central Bank of Nigeria (CBN).
During Sanusi's tenure at First Bank, the group said he oversaw a series of questionable loan approvals that contributed to the banking crisis, which ultimately led to the establishment of the Asset Management Corporation of Nigeria (AMCON) to salvage the financial sector.
Furthermore, the NPCD criticised Sanusi's policies as CBN Governor, describing them as inconsistent and often controversial.
Speaking at a press conference on Friday in Abuja, Mohammed Yahaya, its convener argued that his actions failed to translate into meaningful reforms, and instead, reinforced the status quo, exacerbating the country's economic woes.
The group expressed its full support for President Tinubu's economic reforms, including the removal of fuel subsidies and unification of exchange rates. These reforms, they noted, have received widespread endorsement from global economic experts and institutions like the World Bank and IMF.
The NPCD said Sanusi's recent comments is unhelpful, divisive, and reflective of his partisan loyalty rather than genuine concern for Nigeria's economic well-being. They questioned whether Sanusi's posture was motivated by a desire to settle personal scores or further his own political interests.
"Let us recognize that President Tinubu has taken bold steps to correct decades of economic mismanagement. The removal of the fuel subsidy, while initially challenging, was a necessary move to free up resources for critical infrastructure and social investments which has further helped mitigate its impact on the vulnerable populations," the statement said.
"The unification of the exchange rate has also been widely praised by global financial institutions, including the World Bank and IMF, as a step toward long-term economic stability.
"Secondly, it is worth noting that these reforms have received widespread support from global economic experts. The World Bank has projected positive growth for Nigeria’s economy in the coming years, affirming that we are on a path to recovery.
"Evidently, the Tinubu administration is steering Nigeria in the right direction, despite the temporary pains of adjustment. It is no news that President Tinubu’s administration has demonstrated its openness to dialogue with stakeholders with meaningful contributions across various sectors.
"This government has prioritized transparency and inclusivity, ensuring that the voices of ordinary Nigerians are heard in shaping policies that directly affect their lives. Additionally, efforts are underway to communicate these policies effectively in local languages, ensuring that all Nigerians understand the benefits of these reforms.
"Rather than acknowledging these efforts or contributing positive ideas to enhance their effectiveness, Sanusi opted for a cynical and self-serving narrative. In contrast, what has Sanusi offered? Criticisms that are devoid of actionable solutions and reflect a parrot-like analysis of Nigeria’s economic situation.
"He speaks of problems but offers no roadmap for resolution. This pattern of empty rhetoric is unhelpful and unbecoming of someone who claims to be a patriot. We believe that such inconsistency raises serious questions about the integrity of his arguments.
"Does Sanusi have a personal grudge against the policies, or is his criticism motivated by anything else? His recent comments give a clear picture of being more about settling personal scores and furthering partisan goals than they are about the actual content of economic reforms."
The group, therefore, urged Sanusi to abandon his cynical criticisms and engage constructively with the government to address the challenges facing Nigeria.
They emphasised the importance of cooperation, diligence, and a common dedication to the advancement of the country, rather than petty politics and personal agendas.
0 Comments