Emir of Kano, Muhammadu Sanusi II, has revealed that former President Goodluck Jonathan nearly removed fuel subsidy in 2011 but backed down due to fears of worsening insecurity amid the Boko Haram insurgency.
Speaking at the Oxford Global Think Tank Leadership Conference in Abuja on Tuesday, Sanusi — who was then the Central Bank Governor — said Nigeria’s current economic woes are partly rooted in that decision.
“The only reason the government compromised at that time and did 50 to 100 per cent was Boko Haram,” Sanusi said.
“There were fears that a suicide bomber could attack protesters, leading to mass casualties, and it would no longer be about subsidy.”
He commended Jonathan’s intent, saying the former president “was determined to remove the subsidy but chose to protect Nigerian lives.”
Sanusi added that had the subsidy been removed in 2011, Nigerians would have experienced short-term pain but avoided the far greater hardship now caused by years of delay.
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