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The Emir of Kano, Muhammadu Sanusi II, has expressed dismay over the state of the Nigerian economy and believes that the country pursued policies that made it destined for bankruptcy.<\/p>\n
The former Central Bank of Nigeria (CBN) governor, however, said those knowledgeable about the Nigerian economy were not surprised.<\/p>\n
\u201cLook, I\u2019m known to have spoken for a long time on the economy and to have warned over a decade ago that this is where we\u2019re headed. I don\u2019t think anyone who studied Economics is surprised that Nigeria is where it is today.<\/p>\n
\u201cWe spent decades pursuing policies that were destined to bankrupt the economy,\u201d Sanusi said on Channels Television\u2019s Politics Today programme on Wednesday, while speaking on the life of the late General Murtala Muhammed, who was Nigeria\u2019s former head of state.<\/p>\n
He noted that opinions contrary to such policies were met with resistance.<\/p>\n
The monarch said that those who controlled the narrative were the beneficiaries of the system of rent seeking, and therefore, anyone seen as a threat to that system was a target.<\/p>\n
\u201cWe refuse to listen; every argument, every rational argument against the path that we were following, was met with resistance.<\/p>\n
\u201cThose who controlled the narrative were the beneficiaries of this system of rent seeking, and therefore, anyone who was seen as a threat to that system was a target.<\/p>\n
\u201cI have faced a lot of persecution for my views, so I\u2019m not surprised at where we are,\u201d he stated.<\/p>\n
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While recalling the leadership of Murtala Muhammed, Sanusi, however, said that the former military leader was ideologically a bourgeois nationalist.<\/p>\n
The former CBN chief said the late head of state pursued policies that did not really confront capitalism, but tried to ensure that the capital in the country was transferred to Nigerians.<\/p>\n
The Kano Emir explained, \u201cHe was not a socialist. He was not a communist. He was a bourgeois nationalist to the extent that he pursued policies that did not really confront capitalism, but tried to ensure that the capital in the country was transferred to the hands of Nigerians.<\/p>\n
\u201cIt was part of his anti-colonial struggle. So when you look at the indigenous decrees, when you look at opening up the economy to Nigerians, the idea was to create a Nigerian capitalist class that would take over from imperialism,\u201d he said.<\/p>\n
\u201cAnd, and I think this was his major ideological shift from a neo-colonial system to a bourgeois nationalist system.\u201d<\/p>\n
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