Nigeria Is Heading Towards Bankruptcy - Sanusi
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- Опубліковано 25 чер 2019
- The Emir of Kano Muhammad Sanusi II says the financial health of Nigeria is at risk and the country is heading towards bankruptcy.
Sanusi disclosed this during the third national treasury workshop held at the Kano State Government House on Wednesday.
He stressed that factors including fuel subsidy, debt servicing, and demurrage among other economic policies which he described as “unfavourable economic policies,” are consuming revenue of the nation.
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The solutions are not far fetched:
1. Reduce the costs of government
2. Improve human capacity development
3. Get rid of most of the imbecilic criminals running public offices across the three tiers of government
4. Encourage the return of your skilled diaspora
5. Increase power generation and distribution
6. Rather than capital intensive infrastructure development, make it labour intensive using the large army of unemployed youth.
7. Nepotism, ethnicity and mediocrity all need to make way for meritocracy
8. Let consequence flow from the conducts of public officers
9. Close some embassies
Stratocaster if only they will listen to your ideas. Hmmm, I am crying for my country Nigeria
Well said
Good points and ideas. However, it is easy on paper.
GBAM! Unfortunately, Nigeria is the way it is by design.
Criticalthinking01 that’s the bane of Nigeria, the belief that things that worked elsewhere will not work in Nigeria. It’s not difficult, the problem is the lack of will to do good. We’ve had civilian rule for close to 20 years, that’s enough period to have improved electricity distribution and also revamp the refineries.
This man have no business being crowned an Emir! It is a waste of talented economists with long time views. A great injustice was done to this man. He need to be the President of Nigeria. He is a very smart man with good intentions. His English is superb. 👏👏👏👍🏼👍🏼God bless him.
ben machebe I was saying the same thing. The political space needs his voice
Honestly,I said the same thing.The man is highly talented.He's a refined man.His idea is totally different from those educated illetrate Northerners
👍
Thats true its a blessing in disguise he does not belong to an emirs palance but in government to develop africa
Becoming Emir of Kano was his desire and passion. His grandfather was powerful Emir of Kano that had substantial influence in the colonial Northern Nigeria, Emir Sir Muhammadu Sanusi I, KBE 1954-1963, who was also eldest son of Emir Abdullahi Bayero. He may just be apple that fell far from tree trunk among these very despicable inbred ethno-feudal clans responsible for holding Nigeria back. Much of his advancement have been least based on meritocracy, but by ethno-political appointments to cement Northerners hold on institutions of power in Nigeria.
He appears to be an informed man, but far from among the best that Nigeria can offer.
THE EMIR IS ALWAYS ON POINT. THE TRUTH MUST BE FRANKLY TOLD.
Dont mind him. He is part of the cabal. Go and read about the Fulanis first.
@@freethoughts1679 , je suis fulani, t'as quel problème avec fulani
@@karmelondaoj1807 Why are you people murdering innocent people everywhere? Why are you murdering people over an Arab religion? Fulanis are the reason West Africa is a field of blood, they only kill people over cattle and do not bring any type of development.
This is the kind of man we need in African offices!!!
Mr. Sanusi, Please TELL them !
This is the reason I like this man...
My God, how can Nigeria 🇳🇬 people sweep this kind of truth under the Capet and pretend as though nothing is wrong with the governance. This entire circling system built by these cruel dictators is destroying Nigeria destiny as a nation.
Haaa ! Nigeria is going bankrupt day by day and year by year. Please, this terrible system must go down (revolution).
We need a working nation. We need a working system.
Honestly, nothing has been working and nothing is working in Nigeria 🇳🇬 governing systems. We need an urgent change of governing system.
God help Nigeria 🇳🇬 !
Great concern from Houston Texas
Great concern from all over the world. It is only in Nigeria that the stark illiterates are in power. They do not have the interest of the people in mind. They are only interested in embezzling money.
This man is too educated to be in this position
I like this man
Am a Cameroonian but I can identify a genuine and a good heart. This man is good.
Nigeria my country a country where we pay and award chieftaincy title to people that import petroleum products and arrest and criminalize local producers.
Alhamdulillah Sir sanusi.
you are great fulani man.
Youreally inspire me sir.
All fulanis are proud of you.
May you live long sir Sanusi and one day you shall rule Nigeria
Daddy please don't stay in the house apply for governor ship and help the masses in your state
Am a Cameroonian so happy to listen to wise saying from someone who feels for his people
Very clear English
Elvis God bless you
I find it difficult to believe that this brilliant man from the Northern part of Nigeria can put his wealth and influence aside to say the real truth about the Nigerian condition. A man with integrity who has refused to be bought over.
Removing u from the throne will make you more stronger and make you more popular and all over the world and i believe YOU WILL SURELY BOUNCE BACK IN THY MIGHTY NAME OF GOD 👏
Nigeria is not only heading towards bankruptcy but also recolonisation and disintegration.
Nigeria has everything that any nation would wish for in terms of material and human resources, but no capable leadership to make use of the resources to the benefit of the citizens.
Suggestions for a way out are as follows. Massive effort should be directed to Agriculture so the nation can feed and have extra for export.
In the context of providing and adding value to Agricultural items, food and many jobs would be created across every sector of the citizenry.
This would reduce the high level of insecurity.
In effect the Tripod on which Life thrives, FOOD, EMPLOYMENT and SECURITY would have been established through Agriculture.
Every state in Nigeria has one or more items of Agriculture which can be best produced and add value to.
From Cashew alone which is best produced in Oyo, Kwara and Benue state. Nigeria can earn over 20bn USD every year. The plants are right now fruiting everywhere in the areas; all that is needed is harvesting, processing and distribution.
From Coca alone best produced in Ondo, Osun and Ekiti Nigeria can earn over 50bn USD per annum. Remember from exporting Cocoa, even without adding value to it, Chief Obafemi Awolowo established Free Education,, Ife University, now OAU, established about 100 Farm Settlements in the Western Region of Nigeria, established economic trees of Teak, Rubber and some others in many areas of the Region. He built the Cocoa House and many 5star hotels in the region and above all established the First Television Station 1st in Africa, now NTA.
Should our present leaders live up to their responsibility and focus attention on serving the people of Nigeria, the country would in a very short time of about 4years become a NATION with everybody out of poverty There are over 100 Agricultural Items which can serve Nigeria to become a VERY WEALTHY, PEACEFUL and also INDUSTRIALISED nation standing equal with any others in the world. Wake up, Wake up, Wake up Nigeria!!!
If you had a president with one tenth , you kind of brain, just maybe, you would think there is hope. You guys voted for mediocrity , this is where you are parked for the next 4 years.
Hmmmmm....even farming in Nigeria now is a woeful failure and waste with the way fulani herdsmen are destroying the farms and terrorising the farmers and the community. Nigeria is heading towards an acute food shortage, which is a death sentence if combined with the present starvation in the land. Things are reaching their worst nadir of despair. We strongly need a concrete solution asap.
It is well.. One day their conscience will hunt them.. Well done My Emir....
He has Spoken the truth. May Allah reward you abundantly and grant you Jannatul Firdaus. Ameen ya Allah
Thank you Sir, the Emir of Kano is always right. He is the True Leader in Nigeria....
Amiable, Knowledgeable, Courageous, Strategic Planner, Servant Leader and Many More. Unforgettable,,,That Is What YOU ARE...
Sanusi spoke part of the truths and not all of the truths of the problems that will literally lead Nigeria into an ultimate bankruptcy.
Part of the prerequisites of Nigeria heading to bankruptcy is on how Sanusi himself became extremely wealthy for just becoming a central bank governor and he was not investigated by any mortal.
And so do all others in the various government positions over the years got extremely wealthy and got away with them with impunity. Call them presidents, ministers, Governors, commissioners, L.G. Chairpersons, so called first ladies, etc..
The fuel subsidy which is the only little thing that common Nigerians benefit from the national oil wealth will not by itself be the only reason Nigeria will heads to bankruptcy, the reason for Nigeria to heads to bankruptcy will be for the uncontrolled corruption and treacherousness of the Nigerian greedy leaders.
May God strengthing you
Its common sense!
Great speech Son, tell them the truth they don, t want to hear, them no go say they never hear am before, thanks
Them Never Care Because Them Are Lifeless and Visionless Leaders,More Oil Revenues Keep Flow,Nigeria So Call Bad Leaders Keep Stealing The Money .
I am so disappointed in Sanusi for abandoning his country and instead chose to sit in Kano just to be an Emir. He is a very intelligent man and Nigeria could have benefited more if only he had stayed in government.
Ken Chumah Being an Emir of Kano is a very honorable in His culture!
Let me tell you something my brother, he will make more impact this way than he being part of the government, he will not have the power to do anything in the government since he will be surrounded by corrupt people (i believe)
When he was head of CBN, they didn't let him do his job. He tried to expose all the atrocities and they gave him the greatest honour in his culture to shut him up lol.
Ken Chumah
They did not want him there - He did not have a choice
Did you hear him?. APC government promised us Electricity, where is it now, this is their fifth year in government. Let them give us electricity that which we need more than any other thing. Slash down senators salary into 3 and pay them 1/3. Let them stop borrowing money from where ever. Stop the constrution of rail way line to Nijea R epublic. Thank God that you know your people and you quietly left. They would have made you lose your integrity, dignity and frustrated your effort to make you do what they do.
One of the most astute Nigerian I only wished he had gone into politics! The Emir title doesn't give him enough authority to effect change.
He was the central bank governor.
Fat Pride and they were the most prosperous years Nigeria had seen but his hands were tied when it comes to stopping subsidies among other tools use to embezzle state funds.
Anthony Wilson he won’t survive politics ....the elites will get rid of him
@@zat0076 Funny, I was thinking about this very issue today. Well, if he forms the right alliances with military support and with the experience gained from being the Emir he should survive. Sanusi has the temperament and tenacity for politics, furthermore, he's a natural leader.
Anthony Wilson I get ur point..but let’s be frank here.....nigeria is just a big company with the elites as the shareholders...do u think those guys will give up power that easily...the only way he can survive is when d ordinary Nigerians are ready to hits street to offer him d support when he is under fire by d elites for the reforms he is trying to effect, only then will the elites back off...but that won’t happen becos we are heavily divided along ethnic and religious line...that is the greatest weapon d elites from both north and south deploy when their privileges and wealth is at stake
I was a participant at the 3rd National Treasury Workshop held at the Coronation Hall in Government House Kano where he delivered his goodwill remarks. His Highness spoke well as an Economist and he was strongly applauded for hitting the nail on the head.
And what happened after the applause. What has changed? Have you changed?
@@omobajesu2713 They go back to stealing money as usual after all the applause died down.
Truth can never be dethroned.We must here it whether we like it or not .
This man shouldn't have wasted his time being an Emir. He should run for the presidency of Nigeria.
Akuko. Dis man dat gave fake figures to discredit Jonathan. Wat has he done for his pple as emir and former cbn governor?
Sense u no get
Brilliant!
GOD bless you sir
They dont Like the truth, this Emir is very Special. May God be with him and His Family.
Joseph Osuji Amen Amen Amen
Amen
So this is why they removed him cus he stands for the truth. This is the kind of president we need that knows economics well...
That's just the main purpose of his removal..... They know he has charisma and will love for him to contest for the seat of the president..... It's just a long term plan in motion
The curse is Great!-The stranger that is within thee shall get up above thee very high; and thou shalt come down very low.
He shall lend to thee, and thou shalt not lend to him: he shall be the head, and thou shalt be the tail.
Moreover all these curses shall come upon thee, and shall pursue thee, and overtake thee, till thou be destroyed; because thou hearkenedst not unto the voice of the LORD thy God, to keep his commandments and his statutes which he commanded thee:
And they shall be upon thee for a sign and for a wonder, and upon thy seed for ever. Deut 28
benjamin christian Pls stop comparing his ability to say and analyse things about thing happening especially will not make him a good president .
You have fallen for it. Exactly were they want you. Examine his record and what his agenda is then make your judgement. He's a chameleon who seeks only Nothern interests not Nigeria.
The deposed Emir of Kano - SLS - is a bundle of talent whose knowledge and intellectual fecundity is comparable only to the late titan Chief Obafemi Awolowo who was described by another great warlord Chief Emeka Ojukwu as the best President Nigeria never heard. We should not allowed SLS to waste away without tapping into his repository of foresight, clear vision and vision for Nigeria.
All this are jargons, nothing like subsidy. Nigeria will never be a liveable country, because of the foolishness of the leaders. Produce your oil yourself. Produce 80 percent of what Nigerians consumes, create industries and build a system. Forget speaking English. Oil money is suppose to be share by every citizens. Northerners are the big problem of Nigeria. Build school for your people and create sanity. Provide institutions that will careter for everyone. Value human beings and do the needys. Too much of flamboyantness among this so called leader. Take the people out from crime by providing industries, good schools, effective technical schools and separate religious from politics and governance, invite good economics to your table of business, open your brains and mind to serve the people(What is subsidy, who send you. Bad word subsidy) Wake up your
Thank you Sir Sanusi.
A prominent fulani man.
Please for those who hate fulanis.
They are not only heardsmen but elites have in them too.
For ever they shall be ruling Nigeria.
Sir Sanusi please we need you in the president seat.
Makes perfect sense why he was dethroned,but this will definitely workout in his favour
Good questions to Nigeria government , could someone answer the meaning of subsidy in Nigeria , go and witness Asians countries how they are progressing
American pay subsidies on agriculture our need to be fraud proof.
money given out to encourage something happen
What I learnt from sanyasi as an Igbo man, as a typical onitsha man, as a biafran and proud, is simple, the north is the problem of the south, or the north is delaying the growth of the rest of nigeria, the north is deceiving nigeria, you can draw whatever conclusion out of this.
Well done sir, Allah gbukwa akubar nwanne ya nwoke, these your people have returned nigeria to the Ottoman Empire of centuries ago. Well done sir and may egbe enigwe gbagbukwaalum unu ncha.
I’m speechless very brilliant and intelligent man. we need this man to run for president he is smart and has good intentions
To be honest to myself I love Sanusi so much, I don't know him but his word touches my heart
May Ulmaighty Allah continue granting the former emire of Kano Muhammadu Sanusi good health and faith and May Him continue helping him and protecting him from his enemies. Ameen.
truth in it peak
There are many ways to make money not only petrol, transportation also like air lines too
Wow God bless you sir for saying the truth
Which truth
He was fucking telling lies. He doesn't happen like that every in the world. He said the same shit during Jonathan era. Why are will importing oil? The government needs to build refineries and stop importing oil. The mass doesn't benefit from oil money. No better salary.
Speechless.
Can we begining by looking into wny we paid too much momey to the law makers more than any other country.
Sanusi has paid dearly for telling the truth about the state of the Nigerian economy. To date, he continues to be enemy #1 to the political elites in Nigeria.
You are right Sarki they don`t want to listen to the truth and they`ll say its a criticism not knowing that a wise criticism is supposed to be welcomed,their problem is that they don`t want the truth especially in a public place or where the masses will know whats said and is true which they(governors or government) won`t use.
Kuma i support you for not honouring their invitation because no body knows what kind of disgrace they planned for you,yes they must accept this one.
we pray PMB(yawale mayen jirgi)keep to his promises.
The poverty is also cause of virtually all the atrocities&terrorism happening around.
Subsidizing 100% for fossil fuel is totally unprofitable&unsustainable even the lay man will imagine it,yes Nigeria and let me say almost everyone will go to taking loans and being unable to pay back.
You said whats suppose to be done but they`ll never accept it and they`ll start hunting you soon,Allah tsare ka.
I salute you,this emir is an economic expert
Africa add value to the raw materials and by ten years from now you will be on top of the world..
Nigerians pray for you to be President 🇳🇬❤
Nice speech my leaders
Sanusi am an igbo man bt i like u for one reason.
I don’t understand his his hat but I his words are piecing! This man wants change in Nigeria!
Don't worry about the hat,its traditional dress.
A wise man can behave like a fool, but a fool cannot behave like a wise man. King ❤
Oil oil that is coming from biafra land and they are not doing anything for the biafra land were they are bringing it from, God will gorge you all, biafra must go home
Can this man help Nigeria to be its president?
He will be worse Dan buhari and rochas. Is nt by English oooo. If it is by English, rochas and ayade would have been d best guvnors of all time. But dey are d worst.
@@igoramadi635 u are so negative what makes u say that?
I wish you could rule Nigeria. Smart man.
This is a president in the making
Smh 🤦🏾♂️ Sir how about we invest in processing our crude oil into petroleum ? Invest in proper transportation system and stable energy that will reduce petroleum usage by Nigerians at least by 30%. With the profound speach and excellently Articulate as you sound your highness, all I hear is keeping all Nigerians the number one *focus customer* to petroleum other than a vision of reducing petroleum usage by individuals
When we start focusing on Nigerians to be petroleum customer, we will think brighter and ahead sir...dream it and together we will make a lovely dream come true.
When next there is increase in fuel price , instead of people protesting for decrease,
They should protest for
Good roads- so they don’t waste their fuel in in traffic
Different transportation systems- people get to drive less , go out and back home easily in comfort through public train , ferry , bus etc
Stable energy - reduction of Noise pollution to start with and no one will be buying fuel for no generator and risking lives keeping flammable material such as crude oil at home
As awesome as this speach sound
All it is saying is a continuity in making Nigerians the only major customers of petroleum imported into the country...🤦🏾♂️
Well you are not wrong. But who knows the topic he was asked to talk about? Maybe it's all about petroleum
wow first time you have made a constructive suggestion/argument. Bravo! No trolling from you like usual Lol
Real talk
Sanusi will, very suitably, serve as the President of the emergent Arewa Nation, as Nigeria soon dismembers
Truth is Bitter But Must Be Told.""" The Truth Shall Make You Free, But First It Shall Make You Miserable.""..Anonymous.
The Emir of Kano, Sanusi's speech has always inspired me but I will also suggest the federal government build their own refinery. In that way, it will be cheaper for her citizens even when subsidy is removed. Let's not forget that people in other parts of the world don't rely on petrol like Nigerians. We use it for power, transportation, food processing to name a few.
Soro soke and hence the consequence but the righteous will overcome. Any opposition to SLS, He will outlived all of them because you are light and light surely will turn up every morning. Shalom SLS
Is it a rocket science to build or maintain our existing refinery?
Am praying to the former emire of Kano State to be the Nigerian's president in 2023 insha Allah and will one-day be insha ALLAH
LOL Nigeria has been bankrupt for decades.
At this rate bankruptcy is inevitable, unless we wean ourselves off crude oil. Diversification is Nigeria's best hedge against oil price fluctuation.
The largest buyers of crude oil are moving away from fossil fuel and investing in clean energy and electric cars. Simple economics; when demand from those countries fall, oil prices fall, and fed revenue drops....we might see $20/barrel soon. Where will we get money to run the country then?
What Nigeria needs to do, for the long term, is diversify revenue sources (that's another discussion topic).
But everybody is still talking about oil oil oil.
The lack of diversification of the economy is not the root cause of our problems, running a centralized govt whereby the centre call the shots for what happens everywhere in the country, resource control is in the hands of the few who find themselves in the center, they hire governors as errand boys to maintain control at the state level. The diversification you speak about will only work in a competitive and decentralized economy. Let there be competition and the resourcefulness of men will erupt like a volcano. People don't get it what poverty stricken regions suffer from is not the lack of resources but a lack of resourcefulness. When there is no free trade and and a fair atmosphere to thrive, how will the diversify. We are running a false democratic system which is only democratic on paper. What we have now is even worse than the military, Fela saw all these and put them into songs but we laughed at him claimed he smoked too much weed but we are still in deep shit........igbeeeeeeeeeeeee
@@racontur Fela is still right till tomorrow. He was a visionary. Nigeria leaders are blinded by corruption and nepotism.
I think you should leave the Kano emirates and contest for presidency! in 2023... floreat!
I second that
@Favour Here comes the white Jesus worshipping Igbo with his superiority complex.Hausa-Fulanis and Yorubas didn't complain when that dimwitted and incompetent Badluck Johnathan was in power
MSNPC I think he is more than an Emir and more than a president
I think your brainless
Mr Football & David Frederick generalizing is a very illiterate thing to do... do you realise I am Igbo from Nnokwa, Idemili South, Anambra? We Igbo's are are not a monolithic group
Everything happens for a reason, He will be Nigeria next president. Too smart to be a mere Emir.
He needs to be the president
He should be President.
Other countries have physical GOLD REserves... Nigeria and all African countries MUST START keeping PHYSICAL GOLD if we want to run stable economies on the African continent....
Very good.
...hard truth.
Why have to refine locally
Is it now you are seeing it?When politician are looting and no one seems to care.
YOU GOOD FOR IMF JOB NOT FOR EMIR
This aged well
The emir needs to do more
Even though I am among those who believe that it is time to take away the leadership of Nigeria out of the northerners, but I will fully support this man to be the president of the country. Anyone who has the ability to unite the country and make it workable for everyone deserves to be our president.
Samuel Williams let him start as a Vice President cos the next president is from d south as per rotation
ZAT 007 my brother, that will be awesome if the next president will be from the south.
Samuel Williams is inevitable
Such incompetence in that country wow
Nigeria is bankrupted already. It's surviving only on past glory.
Agreed but not surviving
And money sent home by Nigerians working abroad!
Nigeria problem is not of lack of intelligent and knowledgeable men but rather the lack of men with intergrity. Sanusi is an exception.
This is what you call bondage/ slavery.. rise up you might people and free yourselves from this evil.
I feel this intellectual man is very selfish to be the Emir of Kano instead of becoming Nigeria president. This man has Nigeria's interest in his mind, unlike the others who are chasing the shadow.
Why so much interest and emphasis on oil? What about gas? What about agriculture? He did not talk about the current insecurity in the country.
Anyanele Md what was he asked to talk about?
SANUSI', COLLECT AM 👌
when u should have aimed to be president first, them emir. you chose the other route, now you see some illiterate politicians messing you up.
Ganduje is better schooled by him. Accent is not intelligence.
I think he made the right move. Being Emir gave him a platform for all Nigerians to know what he stands for. Now, with this removal, if he really wants to get into national politics, there is no better time.
@@oumarbah3998 As CBN governor he was a national figure and very popular at that. Now he has made enemies with close minded northern leaders who think he will westernise the north. Same kind of reason Iran dethroned and banished their king sometime ago.
Is he really unpopular with northern politicians or just with a select few like the governor of Kano? I mean he is receiving support notably from the governor of Kaduna.
As governor of CBN , he also made enemies during his anti-corruption campaign. He was ousted for exposing the $20 billions missing. If he really wants to change things, then he needs to build a coalition and go for executive power. Whatever he does, he will have enemies.
igor amadi how is ganduje better schooled......the man is a walking intellect and u comparing him to someone caught on video collecting dollars as bribe
What is excellent about Buhari
A country where the blind leads the blind and yet are as loud as empty barrels.
Dis guy should be president
why are they cutting the video like that, which kind stupid channels tv be this one?
Nero became infamous because while Rome burnt, he allegedly played the fiddle. It was in all probability a metaphor - the moral of it being that he caused incalculable harm by omission. Buhari should never have been elected to any office in the land = his report card over the last four years and prior is an unmitigated disaster. However, goaded by irresponsible praise singers and worshipers of the cult of his person, he sees himself as possessing of the capacity to steer the Nigerian ship of state. It is wrong headed, and sooner than later will collapse the wealth of the nation. Mr. President, please resign - it is the patriotic thing to do - this job is not for you.
I don't know what what else we want to hear...... Nigerian leaders, what else do you want... hear before you stop this garbage we call governance.... We need real governance in Nigeria... If it is not garbage by now we would show signs of good health.... Are we so lost that we can not find our way again abba!
Ojukwu will be laughing from his grave. Biafra now. Let Yorubas and Hausa/Fulanis stay together.
Please stop it. Just build refineries period. Nobody should temper with that subsidy. Petrol is a security product in Nigeria.
The chicken has come home to roost. This is the day Sanusi was talking about
Allah almighty is the all knowing and all hearing.
I hope he runs for president!
King Sanusi, you should have been allowed to remained as the economic planning minister to advice this daft in aso rock, on how
to go about the whole process, in the right direction but they will not just hire you based on your firmness on core financial management and the truth you profess. I appreciate you sir.