We thought we had a problem in 2015, it is nothing compared to what will happen in 2023 – Sanusi

Former Emir of Kano, Lamido Sanusi has stated that Nigeria will be in a bigger problem in 2023 than it was in 2015

He said this on Thursday at the Akinjide Adeosun Foundation (AAF), leadership colloquium and awards, which was held in Lagos state

The former CBN Governor expressed concern over the myriad of challenges, ranging from insecurity, inflation rate, poverty, among other issues, bedevelling the country.

According to him, between 2015 and now Nigerians have been digging themselves into a bigger hole

“This is the only oil-producing country that is grieving at the moment when oil prices have gone up as a result of the Russia/Ukraine war. Our total revenue is not able to service our debt,” he said.

“And if anybody does not understand that we are in a complete mess, we are. We were in a deep hole in 2015. And between 2015 and now, we have been digging ourselves into a deeper hole.

“We thought we had a big problem in 2015. 2015 is nothing, compared to what will happen in 2023. We have terrorism, we have banditry, we have inflation, we have an unstable exchange rate, and the worst thing is that those in leadership actually think we are going to thank them when they leave office.

“That we are going to appreciate them, there is no change. There is no sense of urgency. If you are running a company and your sales revenue cannot pay interest, you know you’re bankrupt.

“When the total revenue of the federal government cannot service debt? And we are smiling. These are the kinds of questions we need to ask. And the reality is that there are so many Nigerians, who, given the opportunity will do well but they simply cannot contest in that space.”