By Erewunmi Peace

Former Central Bank of Nigeria (CBN) Governor and Emir of Kano, Muhammad Sanusi II, has expressed support for most of President Bola Tinubu’s economic reforms, but cautioned that Nigeria’s progress remains hindered by reckless government spending and a bloated cost of governance.

Speaking during a recent event in Lagos, Sanusi said he supports about 80 percent of the current administration’s policy direction, particularly in the areas of monetary discipline and foreign exchange reforms. However, he noted that fiscal recklessness, excessive borrowing, and unnecessary government appointments continue to weigh down the economy.

“I support 70 to 80 percent of what this government has done in terms of policy direction. But reckless spending and the high cost of running government are still major problems,” he stated.

The former CBN chief emphasized that no amount of policy reform would yield sustainable results unless the government demonstrates fiscal discipline and reduces wasteful expenditure. He urged political leaders to prioritize investments that directly impact citizens rather than expanding the size of government.

Sanusi also warned against excessive food importation and called for a stronger commitment to local production to reduce dependence on foreign goods. According to him, genuine economic stability requires consistent support for domestic industries and efficient fiscal management.

The Emir’s remarks come amid growing public debate over Nigeria’s economic direction, inflation, and government borrowing patterns under the Tinubu administration.

Observers have praised Sanusi for maintaining an independent and objective voice in national economic discussions, given his long-standing advocacy for prudent financial management and accountability in governance.