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How Eminent Nigerian Economists Warned Against Current Economic Hardship

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President Bola Ahmad Tinubu

By Abdullahi Dahiru

There is nothing of the current economic hardship we are witnessing that some eminent Nigerian economists have not predicted. Two former CBN governors Charles Soludo and Sarki Sanusi have repeatedly warned previous governments against some poor economic policies that were the major causes of the economic problems we are witnessing now.

President Obasanjo performed credibly well. In 2005, Nigeria’s foreign debt was $36billion. He secured a debt relief of about $18 billion from international creditors like the Paris and London clubs after settling over $12billion. Then Nigeria’s foreign reserve started growing up.

President Yaradua built the foreign reserve to all time high of $60billion. Nigeria’s foreign debt under him was less than $3billion.

Nigeria started accumulating foreign debt again under President Jonathan. At that time the then CBN governor Sanusi started drawing the attention of the government to that. He recommended removal of fuel subsidy and drew the attention of the government to the leakages in Nigeria’s oil company NNPC. He accused NNPC of not remitting all the money Nigeria was getting from the sale of crude oil into government coffers. That nettled the then President Jonathan who accused Sanusi of insubordination and ‘financial recklessness’ as CBN governor. Sanusi was subsequently removed from the office of CBN governor for blowing the whistle on corruption in NNPC.

Buhari became President when Sanusi was already Emir of Kano. Buhari continued to borrow money from foreign creditors. Sarki Sanusi repeatedly advised Buhari’s government against collecting foreign loans. He recommended the removal of petrol subsidy. He cautioned the CBN against surpassing the recommended 5% of previous year’s revenue as ways and means advances. He cautioned CBN against printing money without revenue to back it. Again, that became a problem for him. The Kano state and federal governments accused him of public criticism of government economic policies instead of private advice to the President and senior government officials. When Kano state government was trying to remove him from the throne of emir of Kano, the federal government looked the other way since one of its critics was going to be punished. Some federal agencies were even utilized for that purpose.

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Buhari inherited foreign debt burden of $7.3billion and it ballooned to over $40billion under him. He was borrowing money to fund him government and pay petrol subsidies. The debt burden under Buhari was so outrageous that almost all earnings of the government goes into servicing debts. Government was servicing debt and taking more loans similar to what Hausa people call ‘biyan bashin daddawar kauye’.

President Obasanjo went after governor Alamasheigha who was arrested in London airport for laundering foreign currency and subsequently jumped bail from a British court. Alamasheigha was subsequently impeached. When governor Ganduje was seen in a video collecting kickback from contractors, what did Buhari did? He did nothing. Corruption became so pervasive under him that CBN staff forged his signature to siphon money. There were many other cases of monumental heists under him but yet he did almost nothing to either punish the offenders or stop the haemorrhage.

When Tinubu became President he announced removal of petrol subsidy and liberalization of foreign exchange. Nigeria was thrown into further economic turmoil.

Now some Nigerians especially many Northerners are accusing the advocates of the economic policies of Tinubu administration as the people that recommended government to throw them into the current economic hardship because of their ‘insensitivity’ and ‘capitalistic’ mindsets. These people are saying why not the experts recommend tackling of corruption as a remedy? Didn’t Sanusi lose two coveted positions for blowing the whistle on corruption? The first case was his accusation that NNPC was not remitting money from the sale of crude oil. The second case was his opposition to Kano state governor Ganduje taking $1.8billion loan to construct a light rail in Kano metropolis.

I am not trying to shield Tinubu from criticism of his economic policies. The truth is that he inherited a bad economy from several years of mismanagement. What are his options? I really don’t know.

The truth is that Nigerian scenario is similar to a person that sustained a fracture in the leg. He went to a traditional healer who unskillfully repaired it. The leg became gangrenous. Any sound orthopaedic surgeon will recommend amputation of the gangrenous leg. The leg was amputated. The amputee then blamed the orthopaedic surgeon for his travails not his previous decision.

Opinion

Beyond the Godfather’s Shadow: Why Governor Abba Kabir Yusuf Chose Kano Over a Provincial Presidential Quest

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​By Kabiru Sani Dogo Maiwanki

​The recent pronouncements by Senator Rabiu Musa Kwankwaso regarding Governor Abba Kabir Yusuf’s strategic political recalibration have finally stripped away the façade, exposing the profound ideological fissures within the NNPP hierarchy. In a caustic address delivered Saturday evening, the Senator characterized the Governor’s newfound autonomy as a “betrayal” of a far more egregious nature than that of his predecessor, Abdullahi Ganduje. However, in this vitriolic attempt to cast himself as the victim of political infidelity, Kwankwaso inadvertently betrayed a disconcerting truth: he viewed the incumbent administration not as a sovereign executive entity, but as a subordinate instrument of his personal political estate.

​Senator Kwankwaso remarked that, as a presidential hopeful, his fundamental expectation was that the administration he purportedly “installed” would function as a geopolitical centrifuge—a financial and logistical catalyst designed to project the Kwankwasiyya hegemony into neighboring Northwestern territories. He expressed profound chagrin that, over two years into this mandate, the machinery of the Kano State government has not been weaponized to “conquer” even Jigawa State for his political brand. This revelation is remarkably candid; it implies that the Senator’s patronage of the current administration was never rooted in the socio-economic advancement of the Kano populace, but was instead a cynical stratagem to treat the state’s commonwealth as a private war chest for a singular, ego-driven presidential odyssey.

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​By resisting this role, Governor Abba Kabir Yusuf has committed what Kwankwaso perceives as an unpardonable “sin,” but what objective observers must recognize as a courageous act of institutional integrity. The Governor’s refusal to allow the Kano State treasury to be cannibalized for regional political expansion is a resounding victory for fiscal prudence and administrative transparency. It represents a principled rejection of the archaic practice where public commonwealth is weaponized to bolster the narrow political interests of a singular godfather at the expense of the citizenry.

​The depth of the Senator’s desperation is now laid bare for all to see. In a striking reversal from his usual posture of absolute authority, Kwankwaso has been reduced to making public appeals for reconciliation. His recent plea—openly asking anyone with access to the Governor to “beg him to come back”—reveals a leader who has finally grasped the magnitude of his loss. It is the sound of a man who realizes that the “innocent aide” he once underrated has not only secured his independence but has taken the soul of the movement with him.

​It is therefore essential for Kwankwaso and other political leaders who pride themselves on their political stature to realize that there is a limit to how long they can continue to deceive and exploit their followers. Respect must be reciprocal; whether between a leader and the led, there is a definitive limit to the amount of insult, manipulation, and contempt any person can endure.

Whenever you push a supporter to the brink and their patience finally runs out, the consequences of their anger will certainly be unpleasant for those in power.
​For the well-meaning people of Kano, this is a moment to offer unalloyed commendation. Governor Abba deserves praise for his steadfastness in protecting the state’s allocations and for prioritizing the welfare of the masses over the expansionist agenda of a political empire. Abba Kabir Yusuf has chosen to be the custodian of the people’s trust rather than a puppet for personal ambition, and in doing so, he has redefined the essence of leadership in Kano.

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Opinion

From Zamfara roots to national vision: Aliyu Muhammad Adamu, seasoned media leader, returns home to serve his people.”

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Aliyu Muhammad Adamu was born on 29th December 1982 in Tsafe Local Government Area of Zamfara State, into the respected Adamu Joji family.

He hails from a lineage that includes notable family members such as Alhaji Sanda Adamu Tsafe (Sarkin Yakin Tsafe), Alhaji Aliyu Adamu (Danmadami), Alhaji Sani Adamu, Hajiya Khadija Adamu (Gwoggo Dala), and Hajiya Amina, among others.

His father, Muhammad Adamu (popularly known as Nata’ala), later relocated to Kano State in pursuit of business expansion. As a result, Aliyu and his siblings were raised in Kano, where he began his early education at Da’awa Primary School, Kano.

Driven by a strong connection to his roots, Aliyu returned to Zamfara State for his secondary education, attending Unity Secondary School, Gummi. He subsequently gained admission into Bayero University, Kano (BUK), where he obtained both his Diploma and Bachelor’s Degree, graduating in 2010.

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After completing his National Youth Service Corps (NYSC), Aliyu faced the realities of life with resilience and determination, navigating through challenges that shaped his character and leadership capacity. In 2014, he returned to Zamfara State and began his professional career in the media industry with Gamji Television and Radio.

Through dedication, hard work, and professional excellence, he served the organization for nearly ten years, rising through the ranks to become the General Manager of the station, an achievement that underscored his leadership, administrative competence, and commitment to public communication.

In 2023, Aliyu voluntarily resigned from the media organization and relocated to Kano State in pursuit of broader opportunities and personal development. Today, driven by a renewed sense of purpose and a lifelong commitment to his people, Aliyu Muhammad Adamu is preparing to return to his hometown to seek the support and mandate of his people. His aspiration is to represent our parents, brothers, and sisters at the federal level, with a clear vision of contributing meaningfully to the development, unity, and overall progress of Zamfara State.

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Opinion

Opinion:The Anatomy Of A Hoax- Setting The Record Straight On Governor Abba Yusuf

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​By Ahmed Badamasi Tsaure

​The recent wave of political “scoops” regarding the purported defection of Governor Abba Kabir Yusuf of Kano State to the All Progressives Congress (APC) has moved beyond mere speculation into a coordinated campaign of character assassination. Most notably, reports by Daily Nigerian claiming the Governor’s move was “postponed” are masterpieces of fiction, designed to paint a sitting Governor as indecisive and subordinate. As a witness to the political realities in Kano, I find it necessary to dismantle these fallacies with the facts that the purveyors of this rumor have conveniently ignored. In Nigerian politics, defection is a statutory process requiring a formal resignation from one’s current party. To date, Governor Abba Kabir Yusuf has not submitted any resignation from the New Nigeria Peoples Party (NNPP). To claim that a “finalized arrangement” for a Monday registration existed is a procedural hallucination; one cannot join a new house without first stepping out of the old one.
​Furthermore, the narrative suggests the Governor’s plans were shelved because he failed to seek the “blessings” of local APC bigwigs. This is a laughable distortion of executive power. History is replete with Governors who defected based on executive conviction without the interference of local APC “big wigs.” We have seen this with the Governor of Delta vs. Senator Omo-Agege, the Governor of Bayelsa vs. David Lyon and Minister Heineken Lokpobiri, the Governor of Rivers vs. Nyesom Wike, and the Governor of Plateau vs. the current National Chairman of the APC. More recently, the defections of Governors like Dave Umahi (Ebonyi), Ben Ayade (Cross River), and Bello Matawalle (Zamfara) proved that when a Governor moves, he does so as the new leader of the party in his state. It is also historically hypocritical to label such a move as “betrayal.” When Rabiu Musa Kwankwaso defected from the PDP to the APC in 2013, he did not seek permission from any person or leadership—he led a rebellion based on his own conviction. If it was “principled politics” for the godfather then, it cannot be “betrayal” for the Governor now.

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​What, then, remains for a Governor who already holds the overwhelming mandate of his people? It is a known fact that Governor Abba Yusuf moves with the ironclad support of almost 95% of the Kano State House of Assembly, 50% of the National Assembly members from the state, all 44 Local Government chairmen, and the entire grassroots party structure. The desperate attempt by the NNPP National Working Committee to dissolve the Kano executive committees is a futile, “too-late” maneuver that only confirms their loss of control. When a Governor commands such total loyalty, he does not ask for permission; he leads. The defection of Governor Abba Kabir Yusuf is inevitable if he so wishes, as he carries the entire political soul of Kano with him.
​The theory that the APC postponed this move because Senator Kwankwaso is not coming along simply does not hold water. Kwankwaso’s refusal to join the APC is a settled matter; it is alleged the President offered him a ministerial position or the Chairmanship of the soon-to-be resuscitated Petroleum Trust Fund (PTF), both of which he rejected after his demand to join the Presidential ticket was denied. Using this stalemate as a pretext for the Governor’s “indecision” is a transparent lie aimed at making the Governor look like a political appendage. It is disheartening to see Daily Nigerian abandon objective journalism to frame the Governor as a “betrayer.” If Governor Abba Yusuf chooses to move, he does so as a leader of a massive political movement. The media must stop concocting stories to mislead the public. Governor Abba Kabir Yusuf remains focused on his mandate. These rumors are merely the desperate gasps of those who wish to see Kano in perpetual turmoil.

​Ahmed Badamasi Tsaure writes from Shanono Local Government, Kano State. He can be reached at ahmedtsaure28@gmail.com.

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