The deposed Emir of Kano and vice chairman, Kaduna Investment Promotion Agency, Lamido Sanusi, has expressed his compassion for the next president that will succeed the President Muhammadu Buhari due to the perceived depleted state of the economy.

Sanusi, who is also the current Khalifah, Tijaniyat Movement of Nigeria, said this in Kaduna yesterday while addressing notable politicians at a Kaduna Investment programme titled, “Building a resilient economy”.

The 14th Emir said Nigeria’s economy has been tied to the oil and gas sector and subsidy removal is fast mitigating the economy’s growth.

Citing data from the Federation Account Allocation Committee, Sanusi said only 50% of states in the country generated enough revenue to cover their wages, overheads and debt services.

He maintained that the cost of servicing debt in Nigeria with the Federal Government was 2.597 trillion naira whereas revenue was N2.4 trillion naira.

Credit: Punch.

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