The Emir of Kano and former Governor of the Central Bank of Nigeria (CBN), Muhammadu Sanusi II, has commended the economic reforms being implemented by President Bola Tinubu’s administration and the Central Bank of Nigeria, saying they have helped restore stability to the economy and positioned it for stronger growth.
Sanusi said Nigeria’s economy is now expanding faster than its population for the first time in years, describing the development as a significant milestone in the country’s economic recovery.
The former CBN governor made the remarks while speaking at the 31st Nigerian Economic Summit, where he praised the apex bank’s monetary policy measures aimed at stabilising the economy after years of macroeconomic challenges.
According to him, the CBN has made remarkable progress in addressing the excess liquidity that had built up in the financial system, helping to strengthen confidence in the economy.
“I have nothing but positive words for what the Central Bank has done. We are coming from the background of a very high level of instability as a result of loose money and uncontrolled growth in money supply. The Central Bank has taken one year to mop up all that money,” Sanusi said.
He added that the current economic trajectory reflects the impact of ongoing reforms.
“This is the first time that this economy will be growing faster than the population,” he stated.
Sanusi’s remarks come as the Tinubu administration continues to pursue economic reforms aimed at stabilising public finances, attracting investment, boosting productivity and creating a more resilient economy.
The Central Bank, under its tight monetary policy, has also focused on reducing inflationary pressures, improving exchange rate stability and restoring confidence in Nigeria’s financial system.
In line with those objectives, the Monetary Policy Committee (MPC) recently retained the Monetary Policy Rate (MPR) at 26.50 per cent for the second consecutive meeting, maintaining its cautious stance as inflation continues to ease.
Nigeria’s headline inflation dropped to 15.91 per cent in June 2026, a development widely seen as evidence that the government’s fiscal reforms and the CBN’s monetary policies are beginning to produce positive results.
Economic analysts say sustained coordination between the Federal Government and the Central Bank will be crucial to consolidating the gains recorded so far, boosting investor confidence and delivering long-term economic growth.
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