Emir of Kano, Muhammadu Sanusi II, Justifies Petrol Subsidy Removal as Economic Lifeline

The Emir of Kano, Muhammadu Sanusi II, has defended President Bola Tinubu’s decision to remove petrol subsidies, stating that the policy saved Nigeria from impending bankruptcy.

Speaking at the second edition of the Kano International Poetry Festival, Sanusi argued that the subsidy regime was economically unsustainable and diverted critical funds from national development.

According to Sanusi, the subsidy system placed an unbearable burden on public finances, leading to excessive borrowing and debt accumulation.

He criticized past governments for failing to repair refineries, noting that subsidies enriched foreign refiners instead of creating local jobs.

Sanusi recalled warning as CBN governor in 2012 that subsidies would lead the country into a debt trap. “Government revenue could no longer carry the subsidy burden. At some point, we began borrowing to pay the subsidy, then borrowing to service the debt. It became unsustainable,” he said.

The Emir emphasized that the removal of the subsidy should be viewed as an opportunity to rebuild a stronger and more self-reliant Nigeria.

He framed the policy as a necessary step toward building a self-sufficient economy and encouraged Nigerians to see it as a chance for growth and development.