“Nigeria on the verge of bankruptcy” – Emir of Kano

The Emir of Kano, Mallam Muhammad Sanusi II, has warned that Nigeria is on the verge of bankruptcy.

Sanusi said fuel and electricity subsidies, as well as debt servicing are eating into government revenue.

He advised president Muhammadu Buhari’s administration to scrap fuel and electricity tariff subsidies in order to stabilize the economy.

The former CBN governor made the comments in an address at the ongoing third national treasury workshop.

It was organised by the office of the accountant-general of the federation in Kano.