FG spends more money on debt Service, Fuel Subsidy than on Education – Sanusi

Former CBN Governor, Sanusi Lamido Sanusi has said that the Government spends more money on debt service and fuel subsidy than on Education.

Speaking at the 27th National Economic Summit in Abuja on Tuesday, the former Emir of Kano stated that one out of every six children are out of school in Nigeria.

He noted that the leadership has to understand the need for development, especially in the educational sector.

“Where you are dealing with a country where 40% of the population is living in extreme poverty or 1 out of every 6 children in the world are out of school in this country, you cannot fix this problem without having a leadership that understands what development is, Sanusi said

“Where are we spending our money? Does the Nigerian state even consider development as a critical priority? Forget the noise; where are we spending our money?

“We spend more money on debt service, fuel subsidy, overheads, and the National Assembly than on education. We’re spending less money on education and healthcare than countries like Ghana are spending. We’re spending less money on R&D than countries like Kenya and Rwanda,” he added

“So, the biggest accelerator is political; having a political leadership that understands that the state should be a developmental state and not a populist state,” he explained.