The Emir of Kano, Muhammadu Sanusi II, has questioned the Federal Government's increasing debt accumulation despite the removal of fuel subsidy and the floating of the naira. The government has maintained that both economic measures have improved revenue generation and reduced fiscal waste. Yet, it continues to secure external and domestic loans amid rising public debt levels. Sanusi described the borrowing pattern as contradictory to the expected outcomes of the economic reforms. He argued that if the removal of subsidy and exchange rate adjustments truly expanded revenue, reliance on debt should have decreased. The Emir emphasized the need for transparency in how the gains from these policies are being applied. His comments reflect growing public scrutiny over the government's fiscal management. The debt concerns were raised in a public statement issued from the Emir's office in Kano.
The Emir of Kano highlights a contradiction: if subsidy removal and naira float have boosted revenue as claimed, the Federal Government should not be deepening its debt. Nigerians are yet to see tangible evidence that these economic reforms have reduced the state's dependence on borrowing. The continued debt accumulation undermines the justification given for removing fuel subsidy. Named Nigerians, particularly those in Kano, may question whether the sacrifices demanded by these policies have produced any real fiscal benefit.
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