SHOCKlNG: Sanusi had expected Buhari to lose in 2019 elections

Emir of Kano, Sanusi Lamido Sanusi is one of a handful of Northern elites who have been critical of government's excesses and policies which does not improve the country, nor the living standard of the common man.



President Muhammadu Buhari had made several attempts at becoming a democratically elected president of Nigeria but was only able to succeed in 2015. However, barely 2 years into his presidency in 2016, Emir Sanusi is one of those who already had enough and would rather see Buhari go at the end of his tenure in 2019.

Sanusi back in 2016, at a one-day dialogue forum organised by the Savannah Centre for Diplomacy, Democracy & Development (SCDDD) at Abuja, picked issues with Buhari's administration’s move to secure $30b loan, wondering how he'd be able to pay back with only two years to go until he leaves office.


Apparently concerned by the President's move, Sanusi said “Let me make this issue clear, I will be happy if they get the loan to invest in the power sector, energy and road,”

He however questioned saying, “If we cannot raise $2 billon in two years and you want to borrow $30 billion in two years to the end of the life of the administration, how do you intend to pay back before you leave? The government should rather pay more attention to investment and support the private sectors to grow the economy”.



Speaking further he said, “The economy that has five exchange rates can’t borrow $30 billion. They can’t lend you the $30 billion when you have five foreign exchange rates and with the current b*mbing of oil pipelines by the Niger Delta militants. So, on which foreign exchange rate can you get the loan?”




But all that was 4 years ago and Sanusi is probably among those still surprised that Buhari is still president despite a woeful 4 years of what can best be described as 'poor governance.'

Sanusi's concerns over Buhari's borrowing plans four years ago, obviously did not stop the administration from pushing Nigeria's external debt profile has grown to $24.6 billion between 2015 and March 2019.



Sadly though, the Buhari administration is not done yet as it seeks to borrow $30 billion more which if successful, would see the nation's eternal debt more than doubled to about $54.6 billion dollars before the end of Buhari's second term in office.