{"id":71241,"date":"2021-08-15T09:15:19","date_gmt":"2021-08-15T08:15:19","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=71241"},"modified":"2021-08-15T09:22:12","modified_gmt":"2021-08-15T08:22:12","slug":"35-years-of-progress-in-nigeria-wiped-out-says-ex-cbn-governor-sanusi","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/08\/15\/35-years-of-progress-in-nigeria-wiped-out-says-ex-cbn-governor-sanusi\/","title":{"rendered":"35 years of progress in Nigeria wiped out, says ex-CBN governor, Sanusi"},"content":{"rendered":"<p>Former governor of the Central Bank of Nigeria (CBN), Muhammad Sanusi has stated that there is a need to ensure that the country records growth in its economy.<\/p>\n<p>This was stated by the former CBN governor on Saturday at<span class=\"s1\"> a colloquium to mark his 60th birthday.<\/span><\/p>\n<p><span class=\"s1\">Sanusi said the responsibility of ensuring economic growth will take collective efforts.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The former Emir of Kano, who said he had paid the price for speaking out about socioeconomic and security issues,\u00a0<\/span><span class=\"s1\">noted that Nigerians are the ones paying the real price in increased <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/07\/21\/insurgency-brings-poverty-obafemi-hamzat-calls-for-peace\/\">poverty<\/a>, insecurity, and high rate of inflation.<\/span><\/p>\n<p class=\"caps\">He said if there isn\u2019t much turnaround soon, Nigeria will get to a point where the average citizen\u2019s income will be similar to what was earned in 1980.<\/p>\n<p>\u201cWhen you are in a society that is so abnormal, you cannot afford to be a conformist, because if you all conform, things will not change,\u201d he said.<\/p>\n<p>\u201cMany years ago, when I was screaming about the billions being spent on fuel subsidy, I remember there was an attempt to attack my house in Kano. Then I was in the CBN. Where are we today? We are face to face with the reality \u2014 that fuel subsidy is unsustainable.<\/p>\n<p>\u201cCalling me an enemy or critic will not make those facts go away. So, anywhere we go, we must face these facts.<\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cI have tried not to say much, not because there is nothing to say or because I am afraid of speaking.\u00a0<\/span>The reason I have not spoken much in the last two years is because, I don\u2019t even have to say anything anymore, because all the things we were warning about have come.<\/p>\n<p>\u201cAccording to the World Bank, where were we in 2019? At this rate, in the next two years, in terms of purchasing power parity, the average income of a Nigerian would have gone back to what it was in 1980 under Shehu Shagari. That means in 40 years, we made zero progress; 40 years wasted.\u201d<\/p>\n<p>Sanusi said between 2014 and 2029, on the basis of the index of the purchasing power of the average income of Nigerians, \u201cwe have wiped out all the progress made in 35 years.\u201d<\/p>\n<p>\u201cWe have a responsibility as a people to rise and improve the lives of the people of this country. When there is fire, everyone has to go with a bucket of water. We need to understand how our economy works as a people; we need to understand our choices,\u201d the former CBN governor said.<\/p>\n<p>\u201cEven this shout about restructuring is about economics; it is about resources. We need to grow this economy and make it work for the poor people.\u201d<\/p>\n<p>Sanusi also lamented the population growth, including the almajirai system in the north, adding that steps need to be taken to address the situation.<\/p>\n<p>\u201cIf you cannot maintain one wife and you marry three, and if you cannot maintain three children and you have 17, if you leave those children on the streets without education, without training, you are going to have young men that would be problem to our society,\u201d he said.<\/p>\n<p>\u201cThe youths that you see on drugs, those stealing and kidnapping are all products of that social system. And we need to ask ourselves, \u2018is this what Islam said we should have? Are these the children that Islam said we should have?\u2019\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former governor of the Central Bank of Nigeria (CBN), Muhammad Sanusi has stated that there is a need to ensure that the country records growth in its economy. This was stated by the former CBN governor on Saturday at a colloquium to mark his 60th birthday. Sanusi said the responsibility of ensuring economic growth will [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":48372,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[1172,2571,949,11269],"class_list":["post-71241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-central-bank-of-nigeria","tag-fuel-subsidy","tag-nigerias-economy","tag-sanusi-lamido-sanusi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>35 years of progress in Nigeria wiped out, says ex-CBN governor, Sanusi<\/title>\n<meta name=\"description\" content=\"Former governor of the 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