Abuja, Nigeria — The 16th Emir of Kano, His Royal Highness Muhammadu Sanusi II, and respected economist Dr. Atedo Peterside, have called on the Federal Government to go beyond reforms and focus on eliminating wasteful spending as a crucial step toward reviving Nigeria’s struggling economy.
Speaking at a recent economic forum, the two prominent figures emphasized that Nigeria cannot achieve sustainable growth unless government policies are backed by genuine fiscal discipline and accountability.
Sanusi, a former Central Bank Governor, cautioned that reforms without a decisive cut in government wastage, corruption, and inefficiency will only worsen economic hardship.
“You cannot reform your way out of waste. The government must first show seriousness by cutting unnecessary expenditure — from excessive allowances to duplicated agencies,” Sanusi said.
On his part, Dr. Atedo Peterside, founder of Stanbic IBTC Bank, noted that while recent economic policies signal intent, the lack of fiscal prudence undermines public confidence and foreign investment.
“We can’t continue to borrow and spend recklessly while asking citizens to tighten their belts. Real reform starts with the government leading by example,” Peterside stressed.
Both economists urged President Bola Tinubu’s administration to focus on reducing the cost of governance, strengthening institutions, and ensuring that every kobo of public funds delivers measurable value.
They maintained that true reform must be backed by political will, transparency, and a clear commitment to good governance, or else Nigeria risks repeating the mistakes of the past.
