10 Years of Economic Mismanagement Can’t Be Fixed in 1 Year-Sanusi

By Yusuf Olukokun

Sanusi Lamido Sanusi, former Central Bank Governor, was quoted saying the economic mismanagement of ten years will not be corrected in one year.

He made this statement at the Rivers State Economic Summit, Obi Wali International Conference Center, Port-Harcourt, on Thursday.

The former CBN governor made it known that it will take more than six months or a year to correct the past economic mismanagement, errors and chaotic challenges.

Sanusi in a sincere manner also commended Siminalayi Fubara, the current governor of Rivers state, for promoting the state’s economy through investment promotion.

In his statement he said, “The decision to centre governance around economic development through investment promotion is a very thoughtful and great decision by the government of Rivers State.

“This is more so because the reform of an economy whether state or the federation at large requires difficult decisions, it involves policies that will be painful and unpopular which usually don’t go down well with the politicians.

“But that is the only way to guarantee a better future for the people. At this point it is important for us as Nigerians to be realistic, the mismanagement of the last ten years will not be undone in six months or one year.”

He buttressed by stating the intricate decisions taken by the present administration of Bola Tinubu as the president, is necessary for the economy, if the citizens do not want to walk in the shoes of Zimbabwe, Venezuela and Argentina.

Sanusi, in a light-heartedly quoted Margret Thatcher, former British Prime Minister, who had maintained that no country has ever taxed its way to prosperity.

Additionally, he said government can only tax growth, income should be left aside.

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