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NPCD Slams Sanusi Lamido’s Criticism of Tinubu’s Economic Policies

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  • NPCD says Sanusi lacks the moral authority to advise the government on economic matters
  • NPCD criticized Sanusi’s policies as CBN Governor, describing them as inconsistent and frequently controversial

The Northern Patriotic Coalition for Democracy (NPCD) has condemned Sanusi Lamido’s recent criticism of President Bola Ahmed Tinubu’s economic policies, describing his statements as irresponsible, uninformed, and motivated by personal interests.

Eko Hot Blog reports that NPCD argued that Sanusi lacks the moral authority to advise the government on economic matters, given his own questionable track record as Managing Director of First Bank and Governor of the Central Bank of Nigeria (CBN).

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During Sanusi’s time at First Bank, the NPCD claimed he approved a series of questionable loans that contributed to the banking crisis, ultimately leading to the creation of the Asset Management Corporation of Nigeria (AMCON) to rescue the financial sector.

Furthermore, the NPCD criticized Sanusi’s policies as CBN Governor, describing them as inconsistent and frequently controversial.

Speaking at a press conference in Abuja on Friday, Mohammed Yahaya, the NPCD convener, contended that Sanusi’s actions failed to translate into meaningful reforms and instead perpetuated the status quo, exacerbating the country’s economic challenges.

NPCD expressed its full support for President Tinubu’s economic reforms, including the removal of fuel subsidies and the unification of exchange rates. These reforms have received widespread endorsement from global economic experts and institutions, such as the World Bank and IMF.

The NPCD criticized Sanusi’s recent comments, stating that they are unhelpful, divisive, and motivated by partisan loyalty rather than genuine concern for Nigeria’s economic well-being.

NPCD Slams Sanusi Lamido's Criticism of Tinubu's Economic Policies

The group questioned whether Sanusi’s posture is driven by personal scores or political interests.

“Let us recognize that President Tinubu has taken bold steps to correct decades of economic mismanagement.

The removal of the fuel subsidy, while initially challenging, was a necessary move to free up resources for critical infrastructure and social investments which has further helped mitigate its impact on the vulnerable populations,” the statement said.

“The unification of the exchange rate has also been widely praised by global financial institutions, including the World Bank and IMF, as a step toward long-term economic stability.

“Secondly, it is worth noting that these reforms have received widespread support from global economic experts. The World Bank has projected positive growth for Nigeria’s economy in the coming years, affirming that we are on a path to recovery.

“Evidently, the Tinubu administration is steering Nigeria in the right direction, despite the temporary pains of adjustment.

It is no news that President Tinubu’s administration has demonstrated its openness to dialogue with stakeholders with meaningful contributions across various sectors.

“This government has prioritized transparency and inclusivity, ensuring that the voices of ordinary Nigerians are heard in shaping policies that directly affect their lives.

Additionally, efforts are underway to communicate these policies effectively in local languages, ensuring that all Nigerians understand the benefits of these reforms.

“Rather than acknowledging these efforts or contributing positive ideas to enhance their effectiveness, Sanusi opted for a cynical and self-serving narrative.

In contrast, what has Sanusi offered? Criticisms that are devoid of actionable solutions and reflect a parrot-like analysis of Nigeria’s economic situation.

“He speaks of problems but offers no roadmap for resolution. This pattern of empty rhetoric is unhelpful and unbecoming of someone who claims to be a patriot.

We believe that such inconsistency raises serious questions about the integrity of his arguments.

“Does Sanusi have a personal grudge against the policies, or is his criticism motivated by anything else? His recent comments give a clear picture of being more about settling personal scores and furthering partisan goals than they are about the actual content of economic reforms.”

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The group, therefore, urged Sanusi to abandon his cynical criticisms and engage constructively with the government to address the challenges facing Nigeria.

They emphasized the importance of cooperation, diligence, and a common dedication to the advancement of the country, rather than petty politics and personal agendas.

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