The Emir of Kano, Alhaji Muhammad Sanusi, advised the Federal Government to be more like Lagos state in that they do not rely on a commodity to grow their economy and he said this was the only way to avoid the mistakes of the last administration.
Sanusi said this during a lecture he delivered at the second day of the 15th Joint Planning Board, JPB, and National Council on Development Planning organised by the Ministry of Budget and National Planning in collaboration with Kano State government.
He also said that the All Progressives Congress led administration needs to free itself from voodoo economists at the corridor of power.
He said he was impressed with Lagos and said their style of generating revenue was worth emulating, “As it stands today, Lagos’ role on the economic future of Nigeria is critical than what people think of the Niger Delta region.” he said.
“We are spending 30 to 40 percent of every Naira we earn servicing debt.
“The new borrowings were simply recycled into much higher recurrent expenditure. The GDP was growing largely due to consumers items.”
He said that the model Lagos state is running their economy and attracting investors was one that could potentially bail out Nigeria from her current economic woes.