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‘If You’ve Removed Subsidy, Why Still Borrowing?’, Emir Sanusi II Queries Federal Govt’s Fiscal Strategy

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The 16th Emir of Kano, Muhammadu Sanusi II, has questioned the Federal Government’s continued reliance on borrowing despite the removal of petrol subsidy, warning that poor fiscal discipline could erode the gains of recent reforms.

Speaking in an interview with News Central TV on Friday, the former Governor of the Central Bank of Nigeria (CBN) said while the removal of fuel subsidy and the liberalisation of the exchange rate were necessary, their timing and implementation remained problematic.

“If you’re not paying the subsidy and you’ve got the money, why are we still borrowing and borrowing? What are we borrowing for?

“I have always said the subsidy regime was unsustainable. We cannot continue supporting foreign refineries. We’re an oil-producing country. Keeping refineries open abroad while we’re not doing our own,” Emir Sanusi II said.

He, however, expressed optimism over Nigeria’s shift toward domestic refining, noting that the country has moved from being a major importer of petroleum products to an exporter.

“Today, we have a situation where we have our own domestic refinery. We’re not importing petroleum products. We’re even exporting to Europe, and this is very good for the economy,” he added.

Despite supporting the reforms, Sanusi II raised concerns about sequencing, arguing that policy execution without proper monetary tightening contributed to the naira’s sharp depreciation.

“Artificial exchange rates, especially when you’re printing money, cannot work. There was going to be a devaluation,” he said.

“For me, removing subsidy or liberalising exchange rates, these are good interventions. Were they done at the right time? Those are certain questions.”

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He explained that implementing exchange rate liberalisation in a “loose monetary environment” worsened currency instability.

“If you decide to remove subsidy and liberalise exchange rates… before you have tightened money supply, the naira drops to a bottomless pit. That was a timing issue,” he said.

The monarch further challenged the government’s fiscal direction, questioning the rationale behind continued borrowing.

“We’ve removed the subsidy… what we should now see is fiscal consolidation. You cannot remove wastages and continue borrowing,” he said.

His remarks came amid concerns over Nigeria’s rising debt profile. Reports indicated that the Federal Government has increased its 2026 borrowing plan by ₦11.31 trillion, bringing the total to ₦29.20 trillion.

President Bola Tinubu also recently sought Senate’s approval for a fresh $516 million loan to fund the Sokoto–Badagry Superhighway project, further fuelling debate over the country’s fiscal direction.

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At 70, Alake has made Ekiti proud — Oyebanji

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The Ekiti State Governor, Mr Biodun Oyebanji, has congratulated the Minister of Solid Minerals Development, Mr Dele Alake, on his 70th birthday.

Oyebanji described Alake as “a distinguished son of Ekiti who has made the state proud over the years through sundry contributions to national development.”

The governor, in a statement made available in Ado Ekiti on Tuesday by his Special Adviser on Media, Mr Yinka Oyebode, noted that “Mr Alake has contributed immensely to the delivery of the Renewed Hope Agenda for national development with his demonstrated commitment to boosting non-oil revenue.

“The minister has proved his mettle and made a great impact as an exceptional journalist and communicator with immense intellectual acumen, using his professional platform for the protection of human rights and advancement of democracy”.

The governor said Alake was one of the heroes of the restoration of democracy in the country through his robust advocacy in the media at great risk to his life during the days of military rule.

He hailed the celebrant’s trajectory as a reporter, editor, media manager, administrator and public servant, with a remarkable record as Commissioner for Information and Strategy in Lagos State and Special Adviser on Communication to the President before his appointment as minister.

The governor said, “Ekiti will always be proud of the minister for positively projecting the image of the state and contributing to its growth and development”.

He prayed that God would grant the minister long life, sound health and the grace to continue making an impact in his service to the country and humanity.

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“On behalf of the government and good people of Ekiti State, I congratulate my dear brother, the Honourable Minister of Solid Minerals Development, Mr Dele Alake, as he turns 70 today. We wish him a happy birthday and pray that God continues to sustain him with good health and wisdom to continue serving our dear country with greater distinction,” the governor stated.

Source: punchng.com

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Anambra CP queries DPO, two officers over disappearance of armed robbery suspect

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The Commissioner of Police, Anambra State Command, Nnanna Ama, has ordered the immediate issuance of queries to the Divisional Police Officer in charge of 3-3 Police Station and a Deputy Superintendent of Police.

Ama also directed the immediate commencement of disciplinary proceedings against an Inspector of Police over the disappearance and unknown whereabouts of an armed robbery suspect reportedly arrested and brought to the station.

In a statement on Tuesday, the command’s spokesperson, SP Tochukwu Ikenga, said the CP gave the directive after personally interviewing the complainant and the police officers concerned over a viral video alleging that an armed robbery suspect arrested and brought to the station could not be accounted for.

The statement read, “The Commissioner of Police, Anambra State Command, CP Nnanna Ama, has ordered the immediate issuance of queries to the Divisional Police Officer in charge of 3-3 Police Station and a Deputy Superintendent of Police, while directing the immediate commencement of disciplinary proceedings against an Inspector of Police.

“The directive followed allegations concerning the whereabouts of an armed robbery suspect reportedly arrested and brought to the station. The Commissioner gave the directives on October 5, 2026, after personally interviewing the complainant and the police officers concerned over a viral video alleging that an armed robbery suspect arrested and brought to the station could not be accounted for.

“The CP described the allegation as serious and capable of undermining public confidence in the Police. He stressed that the Command would not condone any act of unprofessional conduct, dereliction of duty, abuse of office or compromise of established procedures by any police officer.

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“The Commissioner has consequently directed the X-Squad of the Command to conduct a thorough investigation into the circumstances surrounding the arrest, detention, documentation and subsequent whereabouts of the suspect, including the actions and responsibilities of officers involved.

“The CP further disclosed that necessary operational measures have been put in place to facilitate the arrest of the suspect, while assuring members of the public that the Command would communicate the outcome of the investigation when established.”

Ikenga said the Commissioner also cautioned members of the public against circulating unverified information capable of prejudicing an ongoing investigation, noting that facts must be established through due process.

“He reiterated that accountability remains a core component of the Command’s leadership philosophy, and that no police officer is above scrutiny or the established disciplinary process,” the statement added.

Source: punchng.com

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Ondo crash: FG won’t abandon bereaved families, says Shettima

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Vice President Kashim Shettima on Tuesday assured the families of the 25 personnel killed in Monday’s Nigerian Air Force plane crash in Ondo State that the Federal Government’s responsibility to them “will not end with words of condolence.”

In a statement signed by his Senior Special Assistant on Media and Communications, Stanley Nkwocha, on Tuesday, Shettima said the nation owes an “enduring debt of gratitude” to the fallen personnel and would stand beside their families beyond the period of mourning.

He said, “Thirty-two of our compatriots left on a routine mission in the service of their country.

“They were colleagues, friends and comrades. But beyond the uniforms they wore and the ranks they held, they were husbands and wives, fathers and mothers, sons and daughters, brothers and sisters.”

The Vice President added, “Somewhere today, there is an empty chair. Somewhere, a family is still trying to comprehend the sudden silence left by someone who was expected to return home. These are the human faces of the supreme sacrifice we speak about as a nation.”

Shettima reasoned that a nation that asks its citizens to serve “must also remember those who pay the ultimate price in that service.”

He said the loss imposed a lasting obligation on the country to honour both the service of the deceased and the loved ones they left behind.

“We cannot ask the bereaved to be strong today. Grief does not obey instructions.

“We can only assure them that Nigeria remembers, Nigeria mourns with them, and Nigeria will stand beside them beyond these days of mourning,” noted VP Shettima.

He extended his condolences to officers, airmen and airwomen of the Nigerian Air Force, saying the tragedy had taken from the service members of “a professional family bound together by duty and sacrifice.”

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“To the men and women of the Nigerian Air Force, we know that this loss is yours in a particularly personal way.

“Your fallen colleagues have paid the supreme price. A grateful nation honours their courage, their service and the families who shared them with Nigeria,” he said.

The Vice President prayed for the repose of the souls of the deceased, and for comfort and strength for their families, colleagues and loved ones.

The former lawmaker also reaffirmed President Bola Tinubu’s response to the tragedy.

Tinubu had declared three days of national mourning and ordered that flags be flown at half-mast nationwide. He also directed a thorough investigation into the circumstances of the crash.

The President described the incident as “a painful moment for our Armed Forces and for the entire nation,” and commended the rapid activation of search-and-rescue efforts by the Air Force, the Ondo State Government and first responders.

The aircraft, an ATR-42 with tail number NGR 931, crashed near a naval base in the Igbokoda area of Ilaje Local Government Area of Ondo State on Monday while on a routine flight from Benin, Edo State, to Lagos.

All 32 people on board, 25 passengers and seven crew members, were killed. As of this report, the Air Force had released the names of the fallen.

Source: punchng.com

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