The Emir of Kano and a former CBN Governor, Muhammad Sanusi II, has stressed the need for the federal government to completely remove fuel subsidy. He also advised the CBN and the Presidency to reconsider their stance against Naira devaluation, saying the country cannot continue to live “in denial.”
The Emir said: “Does it make sense at this time for the government to continue paying petroleum subsidies? It does not! When you are not earning because oil prices are down, you have to shut down those expense lines that had been known historically to be the site of rent-seeking.
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