…Endorses Tinubu’s tough decisions
….Says it is the only way to rescue 10 years mismanaged economy
By Chris Udochukwu
PORT HARCOURT – Emir of Kano and former Governor of the Central Bank of Nigeria (CBN), Muhammadu Sanusi II, has charged Nigerians to be realistic about their expectations and has applauded the Federal Government for taking tough decisions, saying it is the only way to rescue the country’s 10 year’s mismanaged economy.
Sanusi who stated this while delivering his keynote speech at the second day of the Rivers State Economic and Investment Summit in Port Harcourt, stressed that the reform of any economy requires taking difficult decisions.
He said such decisions might be painful and unpopular but were necessary to save the future of those experiencing the temporary hardship. Stressing that politicians interested in reflections were always fond of running away from taking such difficult decisions.
Insisting that there was no other way to salvage a decade of mismanaged economy apart from taking tough decisions, the former CBN boss advised the citizens to wait a little while to see the turnaround of the economy.
Sanusi said: “At this momentum in our history when the country is desperate to chart a new course in economic thinking opting for a paradigm shift that seeks to harness our vast potential and propel us towards sustainable growth and prosperity, the decision to centre government around economic development and investment promotion is a very thoughtful and brave decision by the government of Rivers State.
“This is more so because the reform of an economy whether of a state or a federation at large requires difficult decisions. It involves policies that may be painful and unpopular which don’t usually go down well with politicians who need a reelection.
“But that is the only way to guarantee a better future for same people it will be hard upon. And at this point it is important for us as Nigerians to be realistic. The mismanagement of the last ten years will not be undone in six months or one year.
“And we need to understand that some of the difficult decisions that are taken will take time to work through the economy. It will take a little while for us to see a turnaround. But those decisions are absolutely necessary in order to save the economy.
“We always knew we have to go through this process if we did not change course. And we have seen this movie in Zimbabwe. We have seen it in Venezuela.
“We have seen it in Argentina and it is a movie we do not want to be part of. I do hope that we will make this transition a short one and go back to economic growth. But it is the right thing to do.”