*Sanusi Lamido Sanusi, ex-Emir of Kano and Vice-Chairman of Kaduna Investment Promotion Agency, urges Nigerian leaders to reflect ‘credibility and transparency’ in the management of public finance

Alexander Davis | ConsumerConnect

Sanusi Lamido Sanusi, former Governor overnor of the Central Bank of Nigeria (CBN) and Vice-Chairman of the Kaduna Investment Promotion Agency, has disputed the 66 million litres of fuel, which Nigerian National Petroleum Company Limited (NNPCL) had announced that Nigerians consume daily.

The former Emir of Kano declared that the NNPCL daily petrol consumption figure is simply “unbelievable.”

Sanusi said this when delivering his keynote speech at the 7th Edition of KadInvest, in Kaduna, Northern Nigeria.

ConsumerConnect reports the Kaduna State Investment Promotion Agency organises annual event.

The former CBN Chief queried the supposed volume of Nigeria’s daily consumption of petrol.

He stated whoever the incoming President of the country 2023, the leader would first need to do a “high standard audit” of every penny spent on the NNPCL.

“In 2019, officially we were importing 40 million litres per day.

“In 2022 officially, we are importing 66 million per day,” he said.

Sanusi in his address at KadInvest also noted: “In three years, we have increased our petrol consumption by 50 percent.

“Please tell me, is it the population? Is it the number of cars?

“Just ask yourself if it makes sense that in three years you increase your consumption of petrol by 50 percent. Are we drinking petrol?”

He stated: “The NNPC says we are consuming 66 million litres per day, so we are consuming more than Indonesia, Pakistan, Egypt, Cote d’Ivoire and others.

“Whoever becomes president in 2023, the first thing they should do is ask the NNPC to document and bring evidence for every dollar they took as subsidy.”

The erstwhile Emir further said: “They must give the ships that came, and we can verify from the insurance companies if those ships were in Nigeria on those dates.

“That is what the law says. There must be proof that the product came in, at the price you said you bought it, before you pay subsidy.”

With the current state of the economy, it would be a lie if any candidate claims it would be easy to fix, noted he.

According to him, Nigerians should avoid voting for such candidates.

Sanusi lamented the current hardship Nigerians are facing, and said until the government is transparent and credible towards the citizens, it has no right to impose such hardship on the citizenry.

“Until we bring credibility and transparency to the management of public finance, no government has the moral right to impose hardship on Nigerians. They have suffered enough.

“Anybody who tells you that it is going to be easy, please do not vote for him, because it is either he is lying to you or he does not know what job he is going to get.

“You cannot with this level of debt service, collapse in revenue and poverty overturn things just like that.

“We have to take corrective decisions and first close out inflated and false numbers,” he said in his speech.

Whither fuel subsidy 2023 Budget?

ConsumerConnect had reported thar President Muhammadu Buhari, recently hinted at the possibility of ending the petrol subsidy regime while presenting the 2023 Appropriation Bill to the joint session of the National Assembly (NASS), in Abuja, FCT.

Buhari said that the removal of fuel subsidy would be the best decision for Nigeria, in regard to the current economic challenges.

The President was represented at the event in Kaduna by Maryam Katagum, Honourable Minister of State for Industry, Trade and Investment.

Asiwaju Bola Ahmed Tinubu, Presidential Candidate of the All Progressives Congress,  Governor Nasir El-Rufai of Kaduna State; Alhaji Aliko Dangote, President of Dangote Group, among other graced the KadInvest event in Kaduna.