The Emir of Kano, Muhammadu Sanusi II, has questioned the federal government's decision to pursue new borrowing despite savings from the removal of the petrol subsidy. Speaking on News Central TV, the former Central Bank of Nigeria governor warned that weak fiscal discipline could undermine the intended benefits of recent economic reforms. Sanusi, who supported the end of the subsidy, described Nigeria's past reliance on foreign refineries as unsustainable for an oil-producing nation. He noted a shift with the country now reducing imports and beginning to export refined petroleum products, a development he welcomed. However, he criticised the timing of simultaneous fuel subsidy removal and foreign exchange market liberalisation, arguing that loose monetary conditions worsened the naira's depreciation. Sanusi stressed that necessary reforms required better coordination and supportive policies to ensure economic stability. He specifically challenged the government's plan to borrow $516.3 million for the 1,000-kilometre Sokoto–Badagry Superhighway, asking why subsidy savings are not being used to reduce debt. President Bola Ahmed Tinubu forwarded the loan request to Senate President Godswill Akpabio, citing the highway's regional integration benefits. Former Vice-President Atiku Abubakar, while supporting the project, urged the government to explore alternative funding to avoid increasing the national debt burden.
Sanusi backs subsidy removal yet questions borrowing, exposing a gap between reform rhetoric and fiscal reality. The $516.3 million loan for the Sokoto–Badagry Superhighway suggests savings are not reducing debt as promised. Nigerians were told subsidy removal would ease fiscal pressure, but the state is still turning to debt. This contradicts the claim that economic pain would lead to concrete consolidation.
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