Thursday, September 22, 2016

Economic recession: We need progressive policies – Emir Sanusi

A former Governor of the Central Bank of Nigeria, CBN, and Emir of Kano, Muhammadu Sanusi II, has proffered the way out of the current economic crisis in Nigeria.
Speaking in Lagos on Wednesday at the public presentation of Funmi Oyetunji’s book, ‘A Conscious Life’, the monarch said, “We need to think through what we do and on the bigger picture too by coming up with policies that will lead us to where we simply want to go,” he said.

Sanusi, a former financial expert, who was recently in Rome for Pope Francis’ meeting with religious leaders and refugees on the occasion of the Assisi Peace Day, added that most of the religious crises being experienced in the country and the world at large had roots in poor economic policies and bad governance.


“Being an economist, my perspective has always been that a lot of the problems we think are religious do have roots in bad economics and bad policies that create poverty and therefore lead to conflicts,” he said.

The Emir had earlier advised President Muhammadu Buhari-led administration to seek the advice of top economic experts in and out of government to find solution to the economic crisis in the country.

Also speaking at the event, the Chief Executive Officer, Stanbic IBTC Holdings, Mrs. Sola David-Borha, said that beyond the personal usefulness of the book, it was a call on state governments to create wealth rather than depend on statutory allocations.

“Our market should be able to create wealth in a sustainable manner. If we focus on wealth creation rather than sharing of money, we will be able to put the nation on the trajectory of growth,” she said.


The former Chairman of Punch Nigeria Limited, Chief Ajibola Ogunshola, who wrote the foreword of the book, said a lot of research went into its production.

“I am amazed at the volume of research that went into the production of the book,” he said, assuring the book will be useful to all sectors of the economy.

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