Tinubu restored Nigeria from economic collapse – Sanusi
Abuja, Nov. 2026 – Sanusi Lamido Sanusi, the Emir of Kano, says the current administration must be commended for bringing Nigeria back from economic collapse.
The emir said this on Tuesday while speaking at the at the Oxford Global Think Tank conference.
He said that Nigeria was heading towards economic collapse before the advent of President Bola Tinubu’s administration.
Sanusi said the reforms introduced by the administration assisted to stabilise and diversify the economy.
“People need to understand that we were on the brink of economic collapse in 2023. It’s something I’ve been saying since.
“I personally think that in terms of pulling back from the brink, dealing with inflation, we were heading towards hyperinflation,” he said.
The emir said the reforms had also brought growth and development in different areas like the external reserves and gross domestic product.
“Let’s look at the good side of the reforms. GDP in Q2 2026 was at 4.48%.
“Inflation is down from 30% to 14.6% and is projected to be 12.5% by the end of the year. That is progress.
“GDP per capita in dollar terms has gone up since 2023 by 47%. If we continue at this rate, by the end of next year, GDP per capita will be back to where it was in 2005.
“Our reserves are at $55 billion, and yes, a lot of it is driven by portfolio flows, which are volatile, but we are lucky that there is a war in the Strait of Hormuz. Oil prices are high.
“Investors would like to stay in Nigeria because of that and the high returns, and therefore we get the portfolio flows.
“We are also making progress in terms of diversification. 20% of our exports are coming from the Dangote Refinery.
“There are clearly foundations being laid for stability. It’s not the end, but the first step towards stability,” he said.
