Emir of Kano praises Tinubu’s economic turnaround while urging continued reforms

Emir of Kano Muhammadu Sanusi II addressed the Oxford Global Think Tank conference on 3 November 2026, offering a mixed assessment of President Bola Tinubu’s economic stewardship. Speaking alongside former World Bank Vice‑President Arunma Oteh, Sanusi praised the administration for pulling the country back from a near‑collapse scenario he had warned about in 2023, while also urging the government to listen more to public concerns about poverty and to improve its communication style.

Sanusi highlighted several macro‑economic indicators that, in his view, demonstrate a turnaround. He noted that Nigeria’s gross domestic product grew by 4.48 % in the second quarter of 2026, a marked improvement over the 0.9 % average growth recorded during former President Muhammadu Buhari’s tenure. Inflation, he said, had fallen from roughly 30 % to 14.6 %, with projections of a further decline to 12.5 % by year‑end. He also pointed to a 47 % rise in GDP per‑capita (in dollar terms) since 2023 and a foreign‑reserve balance of about $55 billion, albeit largely supported by volatile portfolio inflows.

Background

Sanusi, a former governor of the Central Bank of Nigeria, first warned in 2023 that the nation was on the brink of hyperinflation and economic collapse. Those warnings resurfaced during his remarks at the Oxford Global Think Tank, where he reiterated that the country had narrowly avoided a crisis. The conference, convened by Arunma Oteh, provided a platform for Sanusi to contrast the current administration’s performance with earlier periods, citing the Buhari years as a low‑growth era and noting that the current growth, while not matching the Yar’Adua‑Jonathan era, represented significant progress.

He also referenced the Dangote Refinery, which now accounts for about 20 % of Nigeria’s exports, as evidence of diversification beyond traditional oil shipments. Sanusi attributed part of the foreign‑reserve build‑up to high oil prices linked to tensions in the Strait of Hormuz and to attractive returns for investors.

Why it matters

The emir’s comments carry weight given his former role at the CBN and his status as a traditional ruler. By acknowledging Tinubu’s credit for economic gains, Sanusi lends political legitimacy to the administration’s policies, which have faced criticism over fuel subsidy removal, currency devaluation and rising living costs since mid‑2023. At the same time, his call for the government to engage more constructively with citizens highlights ongoing public discontent, especially among households struggling with the cost of living.

Sanusi warned that the government’s tendency to label criticism as hostility could undermine trust. He argued that constructive suggestions should be distinguished from attacks, and that better spokespersons are needed to convey policy intentions. The emphasis on sustaining growth is crucial; Sanusi suggested that maintaining the current trajectory could restore GDP per‑capita to its 2005 level by the end of the following year, a benchmark that could influence voter sentiment ahead of the 2027 elections.

What happens next

Sanusi’s remarks did not outline specific policy actions but underscored the need for continued fiscal discipline and communication reforms. He indicated that the projected inflation decline to 12.5 % by year‑end and the potential return of GDP per‑capita to 2005 levels by the end of next year are contingent on maintaining the present growth rate. Observers will likely monitor the Tinubu administration’s response to the emir’s critique, particularly any adjustments in public outreach or economic policy aimed at consolidating the gains highlighted at the conference.

The divergent tones in Sanusi’s statements—praise for economic recovery coupled with criticism of governmental communication—reflect a nuanced view that may shape both domestic debate and international perception of Nigeria’s economic outlook.