Former Governor of the Central Bank of Nigeria, Alhaji Sanusi Lamido, said on Saturday that Nigeria had made zero progress since 1981.
Sanusi, who said this in Kaduna at a colloquium to mark his 60th birthday, maintained that the government must make the economy grow for the sake of ordinary Nigerians.The former banker explained that Nigeria’s GDP per capita on purchasing power parity had gone through a cycle where it grew and plummeted to nearly the amount it was 40 years ago.
“Between 2014 and 2029, on the basis of this index of the purchasing power of the average income of an average Nigerian, we have wiped out all the progress made in 35 years. We have a responsibility as a people to rise and improve the lives of the people of this country.” The renowned economists also argued that fuel subsidy was unsustainable in the country, adding that had fuel subsidy been removed 10 years ago, Nigerians would not have felt less pain than if it was eventually removed today.
“Calling me controversial or calling me an enemy or critic will not make those facts go away. So, anywhere we go, we must face these facts. Am I happy about it on my 60th birthday? No. Because, 60 years ago when I was born, the United States government advisory was telling investors that Nigeria has a better economic future than Japan. Today where are we and where is Japan?
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