Nigeria’s Economy Is about To Collapse – Sanusi

Sanusi disclosed  that Nigeria economy on the way about to die. former governor of the Central Bank of Nigeria Alhaji Muhammad Sanusii has alarm the public about state of Nigeria’s economy. 

Alhaji Muhammad Sanusii speek about closed ceremony of the Kaduna Investment Summit, tagged KadInvest 6.0 on Friday, Septemebr 24, 2021, said, the country’s economy id on the verge of collapsing. 

The ex-CBN governor said apart from the fact that Nigeria is having difficulties in oil production, the product is now being rejected in the global market.  “The goose laying the golden egg for Nigeria is about to die,” Sanusi said. 

The dethroned Emir of Kano further said the future lies in a knowledge-based economy, adding that Nigeria is far behind many African countries in innovation index. 

He said,

“Only eight of every 100 Nigerians who start primary school completes university.”

“Globally, work is being redefined; 30 to 40 per cent of workers in developed economies will need to significantly upgrade their skills by 2030. And what are the major drivers of this redefinition? ICT and remote working, which we have seen even here with COVID-19.

“There is increased automation and artificial intelligence. Very soon, robot will take over work in most countries and those who would have job are those who operate the robots, manufacture the robots or service the robot.

“A few months ago, Germany was able to produce enough renewable energy for the entire country’s need. Today, we are having difficulties selling Nigerian oil. So, not only are we having problems to produce, even when we produce, the market is not there.

“So, this is forcing a change, and for us a country that depends on oil, things need to change.”

Written: 4 weeks ago


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