A former governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, has stated that the All Progressives Congress-led government has set Nigeria 40 years backwards economically.
He lamented that the APC has wiped out all the gains the country made in 35 years.
The former Emir of Kano made the claim in a trailer for an interview with Rufai Oseni of Arise TV.
He argued that based on Nigeria’s Gross Domestic Product (GDP) per capita on a Purchasing Power Parity (PPP) basis between 1980 and 2023, the economic gains the country made were wiped out between 2014 and 2019.
“Let me give you an idea, when we look at the numbers we see how bad things are. If you look at the World Bank development indicators, in 1980, on a PPP basis, our per capita GDP was, I believe, $2,180. In 2014, it had risen to $3,099, a 50 percent rise. In 2019, our GDP per capita, on a PPP basis was down to $2,229. At this rate, by 2023, on a per capita basis, we would be back to where we were in 1980. We have been set back 40 years. Look at the fall between 2014 and 2019, all the gains made in 35 years between 1980 and 2014 were wiped out,” he said.
This is not the first time the former Emir is criticising the APC-led Federal Government for being responsible for Nigeria’s economic woes.
During a recent virtual religious event, Sanusi said the administration of the immediate past president, Muhammadu Buhari, ignored his advice on how to move Nigeria forward.
He said he had to deviate from the religious theme of the event to remind Nigerians about his stand on the badly managed economic policies of the immediate past administration of Buhari and that everything in Nigeria in the last eight years was done on the basis of debt and that no country will survive in that kind of economic policy.